America must formally examine utilizing proof-of-work networks resembling Bitcoin (BTC) to guard the nation from cyber-inflicted warfare, in accordance with Jason Lowery, a member of the US House Drive.

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 knowledge, messages or command indicators.”

“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 deliver the technological innovation and finest 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 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 may work to discourage adversaries from cyberattacks as a result of “steep prices” of a bodily resource-intensive pc in the identical method 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 area,” however as an alternative, it does it within the digital area, Lowery defined.

BREAKING: US House Drive Main, Jason Lowery sends open letter about #Bitcoin to DOD’s Protection Innovation Board.

“I contend that reusable proof-of-work networks like #Bitcoin characterize 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 big, in accordance with Lowery, and will play an essential position within the U.S. sustaining its place because the world chief.

“Addressing this could possibly 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 stricken 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 pricey 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. Division of Protection might have already “misplaced priceless 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 software 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 may play a pivotal position in serving to the US preserve its dominance with the U.S. greenback, in accordance with Coinbase CEO Brian Armstrong.

“One concept I’ve been considering is that Bitcoin could 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 an alternative of dethroning it.

“I believe it will likely be a pure examine and steadiness that can complement the greenback and be the most effective defender of long run American pursuits,” Armstrong added.

One concept I’ve been considering is that Bitcoin could 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 usually 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 harassed 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 believe many haven’t thought of is that individuals have an alternate now with crypto. They could begin transferring fiat into crypto, as an antidote to inflation.”

Armstrong harassed 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.”

Journal: Huge Questions: Did the NSA create Bitcoin?