Across many nations, while citizens work tirelessly to generate national wealth, government officials tend to spend the majority of it. Several African countries, along with some in the Middle East, struggle with widespread corruption.

The state holds exclusive authority over the creation, movement, and allocation of public funds. Many assume governments must always administer all of a nation’s money. Yet the rise of Bitcoin has disproved this assumption. Bitcoin, the world’s first truly successful digital currency, has no central authority or official overseeing it. It is quickly becoming a major medium of exchange. Although Bitcoin will not entirely replace traditional money, it will certainly reduce government control over it…