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The USA must formally examine utilizing proof-of-work networks reminiscent of Bitcoin (BTC) to guard the nation from cyber-inflicted warfare, in keeping with Jason Lowery, a member of the US Area Power.
In a four-page letter to the U.S. Protection Innovation Board on Dec. 2, Lowery defined that whereas Bitcoin is usually seen as a “financial system” to safe funds, few know that Bitcoin can be utilized to safe “all types of knowledge, messages or command alerts.”
“Consequently, this false impression underplays the expertise’s broad strategic significance for cybersecurity, and consequently, nationwide safety.”
The Protection Innovation Board is an unbiased advisory board set as much as deliver the technological innovation and greatest practices of Silicon Valley to the U.S. Army. Lowery used the letter to induce the board to advise the Secretary of Protection to research the “nationwide strategic significance” of PoW techniques like Bitcoin.
Lowery used the letter to induce the board to advise the Secretary of Protection to research the “nationwide strategic significance” of PoW techniques like Bitcoin.
In his letter, Lowery defined {that a} proof-of-work system like Bitcoin might work to discourage adversaries from cyberattacks because of the “steep prices” of a bodily resource-intensive laptop in the identical means army belongings assist to discourage army assaults towards the nation.
“Proof-of-work mirrors the bodily safety and deterrence methods utilized in different domains like land, sea, air, and house,” however as a substitute, it does it within the digital area, Lowery defined.
BREAKING: US Area Power Main, Jason Lowery sends open letter about #Bitcoin to DOD’s Protection Innovation Board.
“I contend that reusable proof-of-work networks like #Bitcoin symbolize an offset technique for the twenty first century.” pic.twitter.com/qiLZ71S5MN
— Dennis Porter (@Dennis_Porter_) December 3, 2023
Bitcoin’s potential cybersecurity functions are big, in keeping with Lowery, and will play an vital position within the U.S. sustaining its place because the world chief.
“Addressing this might be important for the US to keep up its positions as a worldwide superpower and chief amongst nations, particularly in an more and more digital and interconnected world tormented by safety vulnerabilities.”
Lowery says it has the potential to kickstart the “cybersecurity revolution” too.
“[It is] the start of a cybersecurity revolution. It converts the worldwide electrical energy grid into a big, bodily expensive laptop, or ‘macrochip,’ and makes use of it to bodily constrain malicious actors and safeguard a variety of information and messages traversing the web.”
Lowery concluded Bitcoin’s cybersecurity utility aligns “completely with a strategic offset” and that the U.S. Department of Defense could have already “misplaced useful time” by not implementing it into its arsenal.
Lowery can be a nationwide protection fellow at Massachusetts Institute of Expertise (MIT) and beforehand proposed a cybersecurity tool on the Bitcoin base layer in March, which he claims is able to remodeling the nation’s nationwide safety.
Bitcoin “greatest defender” of U.S. pursuits: Coinbase CEO
In the meantime, in a separate thread on X, Coinbase CEO Brian Armstrong argued that Bitcoin and cryptocurrencies might play a pivotal position in serving to the US preserve its dominance with the U.S. greenback, in keeping with Coinbase CEO Brian Armstrong.
“One concept I’ve been considering is that Bitcoin would be the key to extending western civilization,” stated Armstrong in a Dec. 3 publish, explaining that cryptocurrencies can work in tandem with the U.S. greenback as a substitute of dethroning it.
“I feel will probably be a pure verify and steadiness that may complement the greenback and be one of the best defender of long run American pursuits,” Armstrong added.
One concept I’ve been considering is that Bitcoin would be the key to extending western civilization.
The pure pattern of whichever nation has the reserve foreign money is to inflate the cash provide and enhance deficit spending till it loses that benefit. The U.S. is someplace on…
— Brian Armstrong ️ (@brian_armstrong) December 3, 2023
He defined that world leaders typically fail to retain the reserve foreign money by inflating its cash provide and growing its deficit spending.
“The U.S. is someplace on this journey,” Armstrong defined however pressured the Chinese language yuan and Euro aren’t viable alternate options in the intervening time as they’ve problems with their very own.
Associated: US Senate approves national defense bill that also targets crypto mixers
As an alternative, cryptocurrencies have the potential to be the choice foreign money within the occasion of a U.S. greenback downfall:
“What I feel many haven’t thought of is that folks have an alternate now with crypto. They might begin transferring fiat into crypto, as an antidote to inflation.”
Armstrong pressured it’s higher to maneuver from {dollars} to cryptocurrencies than one other nation’s fiat foreign money if the U.S. greenback loses its dominance.
He added that U.S. dollar-backed stablecoins like USD Coin (USDC) and the emergence of flat coins will play a “main position in unifying these worlds.”
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