Jason Lowery, a member of the United States Space Force, has put forward the idea of employing proof-of-work (PoW) networks, such as Bitcoin (BTC), as a defensive measure against cyber warfare.
In a letter addressed to the US Defense Innovation Board, Lowery highlighted the broader strategic importance of Bitcoin’s technology in cybersecurity and national security. Moreover, he emphasized that while Bitcoin is commonly recognized for its role in a monetary system, it also possesses the capability to secure various forms of data, messages, and command signals.
Lowery urged the Defense Innovation Board to advise the Secretary of Defense to explore the national strategic importance of PoW systems. Additionally, drawing parallels with physical security strategies, he argued that the high costs associated with resource-intensive computers in a proof-of-work system could act as a deterrent for adversaries.
He pointed out the potential applications of Bitcoin in cybersecurity and its role in preserving the United States’ position as a global superpower in an increasingly digital world.
Bitcoin can secure data transfers.
According to Lowery, Bitcoin’s use of the global electric power grid as a large, physically costly computer can safeguard data and messages traversing the internet, limiting the actions of malicious actors.
He stressed that integrating Bitcoin’s cybersecurity application aligns with a strategic offset. Additionally, he suggested that the Department of Defense may have already lost valuable time by not implementing it.
Coinbase’s CEO claims cryptocurrency can help the U.S. maintain dominance.
Coinbase CEO Brian Armstrong shares a similar perspective, believing that Bitcoin and cryptocurrencies can play a vital role in helping the United States maintain its dominance with the U.S. dollar.
Armstrong suggested that cryptocurrencies could work alongside the dollar, providing a natural check and balance to defend American interests in the long term.
He argued that, historically, leaders have failed to retain the reserve currency by inflating the money supply and increasing deficit spending.
Armstrong sees cryptocurrencies as an alternative to fiat currencies and a potential hedge against inflation.
