The USA must formally examine utilizing proof-of-work networks similar to Bitcoin (BTC) to guard the nation from cyber-inflicted warfare, based on Jason Lowery, a member of the USA House 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 information, messages or command alerts.”
“Because of this, this false impression underplays the expertise’s broad strategic significance for cybersecurity, and consequently, nationwide safety.”
The Protection Innovation Board is an impartial advisory board set as much as convey the technological innovation and finest practices of Silicon Valley to the U.S. Navy. Lowery used the letter to induce the board to advise the Secretary of Protection to research the “nationwide strategic significance” of PoW methods like Bitcoin.
Lowery used the letter to induce the board to advise the Secretary of Protection to research the “nationwide strategic significance” of PoW methods 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 pc in the identical manner navy belongings assist to discourage navy assaults in opposition to the nation.
“Proof-of-work mirrors the bodily safety and deterrence methods utilized in different domains like land, sea, air, and house,” however as an alternative, it does it within the digital area, Lowery defined.
BREAKING: US House 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 signify 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 large, based on Lowery, and will play an essential function within the U.S. sustaining its place because the world chief.
“Addressing this may very well be very important for the US to take care of 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 pc, or ‘macrochip,’ and makes use of it to bodily constrain malicious actors and safeguard a variety of knowledge and messages traversing the web.”
Lowery concluded Bitcoin’s cybersecurity software aligns “completely with a strategic offset” and that the U.S. Department of Defense could have already “misplaced invaluable time” by not implementing it into its arsenal.
Lowery can also 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 “finest 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 function in serving to the USA keep its dominance with the U.S. greenback, based on Coinbase CEO Brian Armstrong.
“One thought I’ve been considering is that Bitcoin will be the key to extending western civilization,” stated Armstrong in a Dec. 3 submit, explaining that cryptocurrencies can work in tandem with the U.S. greenback as an alternative of dethroning it.
“I believe it will likely be a pure verify and stability that may complement the greenback and be the very best defender of long run American pursuits,” Armstrong added.
One thought I’ve been considering is that Bitcoin will be the key to extending western civilization.
The pure development of whichever nation has the reserve forex 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 forex by inflating its cash provide and rising its deficit spending.
“The U.S. is someplace on this journey,” Armstrong defined however burdened the Chinese language yuan and Euro aren’t viable 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 forex within the occasion of a U.S. greenback downfall:
“What I believe many haven’t thought-about is that folks have another now with crypto. They might begin transferring fiat into crypto, as an antidote to inflation.”
Armstrong burdened it’s higher to maneuver from {dollars} to cryptocurrencies than one other nation’s fiat forex 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 function in unifying these worlds.”
