The USA must formally examine utilizing proof-of-work networks similar to Bitcoin (BTC) to guard the nation from cyber-inflicted warfare, in accordance with 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 generally 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.”
“Consequently, this false impression underplays the know-how’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 greatest 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 laptop in the identical manner army property assist to discourage army 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 symbolize an offset technique for the twenty first century.” pic.twitter.com/qiLZ71S5MN
— Dennis Porter (@Dennis_Porter_) December 3, 2023
Bitcoin’s potential cybersecurity purposes are large, in accordance with Lowery, and will play an vital position 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 world superpower and chief amongst nations, particularly in an more and more digital and interconnected world affected 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 knowledge and messages traversing the web.”
Lowery concluded Bitcoin’s cybersecurity software aligns “completely with a strategic offset” and that the U.S. Division of Protection might have already “misplaced helpful time” by not implementing it into its arsenal.
Lowery can be a nationwide protection fellow at Massachusetts Institute of Know-how (MIT) and beforehand proposed a cybersecurity software 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 USA preserve its dominance with the U.S. greenback, in accordance with Coinbase CEO Brian Armstrong.
“One thought I’ve been considering is that Bitcoin stands out as 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 feel will probably be a pure verify and steadiness that can 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 stands out as the key to extending western civilization.
The pure development 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 confused the Chinese language yuan and Euro aren’t viable options in the mean time as they’ve problems with their very own.
Associated: US Senate approves nationwide protection invoice that additionally targets crypto mixers
As a substitute, 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-about is that folks have another now with crypto. They could begin transferring fiat into crypto, as an antidote to inflation.”
Armstrong confused 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 cash will play a “main position in unifying these worlds.”
