Jason Lowery, a member of the United States Space Force, has proposed the use of proof-of-work (PoW) networks, like Bitcoin (BTC), as a means to protect the country from cyber-inflicted warfare.
In a letter addressed to the US Defense Innovation Board, Lowery emphasized the broad strategic significance of Bitcoin’s technology for cybersecurity and national security.
He pointed out that while Bitcoin is commonly known as a monetary system, it can also secure all forms of data, messages, and command signals.
“As a result, this misconception underplays the technology’s broad strategic significance for cybersecurity, and consequently, national security.”
He urged the Defense Innovation Board to advise the Secretary of Defense to investigate the national strategic importance of PoW systems like Bitcoin in deterring cyberattacks.
Drawing parallels with physical security strategies, Lowery argued that the steep costs associated with resource-intensive computers in a proof-of-work system can act as a deterrent for adversaries.
He highlighted the potential cybersecurity applications of Bitcoin and its role in maintaining the United States’ position as a global superpower in an increasingly digital and interconnected world.
Bitcoin Can Safeguard Data Transfers
According to Lowery, Bitcoin’s utilization of the global electric power grid as a large, physically costly computer can safeguard data and messages traversing the internet and constrain malicious actors.
He emphasized that integrating Bitcoin’s cybersecurity application would align perfectly with a strategic offset and stated that the U.S. Department of Defense may have already lost valuable time by not implementing it.
“[It is] the beginning of a cybersecurity revolution. It converts the global electric power grid into a large, physically costly computer, or ‘macrochip,’ and uses it to physically constrain malicious actors and safeguard a wide range of data and messages traversing the internet.”
Lowery, a national defense fellow at the Massachusetts Institute of Technology (MIT), is a proponent of cybersecurity tools based on the Bitcoin base layer.
In a previous proposal, he suggested that such tools can transform the country’s national security.
Coinbase CEO Says Crypto Can Help US Maintain Dominance
Coinbase CEO Brian Armstrong also believes that Bitcoin and cryptocurrencies can play a crucial role in helping the United States maintain its dominance with the U.S. dollar.
In a December post on X (formerly Twitter), Armstrong suggested that cryptocurrencies can work alongside the dollar, rather than replacing it, as a natural check and balance to defend American interests in the long term.
“I think it will be a natural check and balance that will complement the dollar and be the best defender of long term American interests,” the crypto boss wrote.
One idea I’ve been contemplating is that Bitcoin may be the key to extending western civilization.
The natural trend of whichever country has the reserve currency is to inflate the money supply and increase deficit spending until it loses that advantage. The U.S. is somewhere on…
— Brian Armstrong
(@brian_armstrong) December 3, 2023
Armstrong argued that, historically, leaders have failed to retain the reserve currency by inflating the money supply and increasing deficit spending.
He said cryptocurrencies offer an alternative to fiat currencies and could be seen as a hedge against inflation.
U.S. dollar-backed stablecoins like USD Coin (USDC) and the emergence of flat coins are expected to play a major role in unifying the worlds of traditional finance and cryptocurrency.
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#AltcoinNews #Bitcoin #Cybersecurity #PoW [Source: CryptoNews]