Bitcoin Proposed as a Cyber Defense Strategy for U.S. Security and Economic Dominance
Summary:
Jason Lowery, a member of the U.S. Space Force, has proposed the use of Bitcoin and other proof-of-work networks as a defense against cyber warfare. In a letter to the U.S. Defense Innovation Board, Lowery underlined Bitcoin's potential beyond securing financial assets, as it can also protect data, messages, and command signals. In parallel, Coinbase CEO Brian Armstrong argued that Bitcoin could be key to extending the U.S.'s economic dominance and serve as an antidote to inflation. Both suggested Bitcoin could aid in maintaining U.S. status as a global superpower.
The proposition of exploring the usage of proof-of-work (PoW) networks such as Bitcoin as a protective measure against cyber warfare has been put forward by Jason Lowery from the United States Space Force. In a comprehensive document submitted to the U.S. Defense Innovation Board on December 2, he suggested that Bitcoin is often underestimated as only a monetary system for securing financial assets, but it can also safeguard other types of data, including messages and command signals. Thus, it holds much wider cyber security potential that could be crucial for national security. It's worth noting that the Defense Innovation Board is an autonomous body tasked with introducing the best technological innovations from Silicon Valley into the U.S. military realm.
Lowery urged the board to recommend a formal investigation into the significance of PoW systems in the context of national defense strategy. He underlined that the costs associated with operating resource-intensive computers needed for a Bitcoin-type system could deter potential cyber threats -- a strategy drawing a parallel with traditional defense assets used to avoid military attacks.
In a public disclosure of a letter, Jason Lowery, a Major in the US Space Force, emphasized the importance of proof-of-work networks like Bitcoin as tactical tools for the ongoing century. As per Lowery, Bitcoin could play a key role in fortifying America's cybersecurity, thereby enabling the nation to sustain its position as a world leader. This comes amidst multiple security threats in the digital era. This, he supposes, could herald a cybersecurity revolution and act as first line of defense for various data and messages moving across the internet.
Despite believing that implementing Bitcoin into the defensive strategy could have already saved valuable time, Lowery expressed his hope that this system aligns perfectly with a strategic offset, enabling a cybersecurity upgrade. Additionally, Lowery, a national defense scholar at the Massachusetts Institute of Technology, previously suggested a cybersecurity facility based on Bitcoin in March to augment national security.
Meanwhile, Brian Armstrong, CEO of Coinbase, shared his thoughts in a separate conversation that Bitcoin could help the U.S. in extending its economic dominance. He perceived Bitcoin as being capable of working alongside the U.S. dollar for mutual benefit rather than posing a threat. By doing so, Bitcoin could help secure long-term American interests while preventing any harm to existing economic foundations. He elucidated the trend of world leaders to inflate their reserve currency, leading to increased deficit spending, which the U.S. is currently undergoing.
However, Armstrong rejected the prospect of the Chinese Yuan and Euro as viable alternatives due to their inherent challenges. Instead, he advocated for cryptocurrencies as the solution of choice in the event of any downturn in U.S. dollar status. He insisted that stablecoins such as the USD Coin could play a crucial role in bridging these divergences, adding that people might prefer moving their savings from fiat to cryptocurrency as a protection against inflation.
Published At
12/4/2023 3:53:46 AM
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