The US Department of Defense will study the use of blockchain in the field of national security
Date: 2024-07-10 Author: Gabriel Deangelo Categories: BLOCKCHAIN
The Upper House of the US Congress has officially approved an initiative to study the use of blockchain in the field of national security. The Senate has directed the country's Department of Defense (DoD) to explore various uses of this technology to improve command and control.
Instruction to the Ministry of Defense
The US Senate Armed Services Committee recommended that Defense Secretary Lloyd Austin conduct a thorough study of the potential of blockchain. In particular, the department should consider the use of technology in managing logistics operations, protecting cyber infrastructure and increasing economic competitiveness.
The committee's published document notes that blockchain has the potential to significantly improve national security. The technology can improve the cryptographic integrity of the defense supply chain, provide better information security, and reduce the risk of data manipulation by competitors.
Report on the National Defense Authorization Act
The committee's recommendations are presented as part of the report on the Fiscal Year 2025 National Defense Authorization Act (NDAA). According to the document, Lloyd Austin must submit a preliminary report on the possibilities of using blockchain in national security by April 1 next year.
The briefing will include six key points:
1. Determine the risks and benefits of blockchain technology.
2. Analysis of the level of blockchain implementation in countries such as Russia and China.
3. Assessing the potential costs of implementing blockchain-related programs.
4. Suggestions for improving supply chain management.
5. Methods for increasing the protection of cyber infrastructure.
6. Ways to increase economic competitiveness using blockchain.
Context: Resolution to repeal SAB 121
Earlier, the US authorities re-examined the resolution to repeal SAB 121 of the US Securities and Exchange Commission (SEC). This document requires companies in the financial sector to include clients’ crypto assets on their balance sheets. Although the resolution passed the Senate in May 2024, President Joe Biden vetoed it, believing that eliminating the ballot measure would weaken the powers of the SEC and other regulatory agencies.
The Senate and DoD initiative to study blockchain could lead to significant improvements in national security. Thanks to this technology, the United States will be able to provide more reliable information security and improve the efficiency of managing logistics operations. At the same time, monitoring the adoption of blockchain in other countries will allow the United States to remain competitive on the global stage.
Recall that the US Marshals Service selected Coinbase to provide digital asset trading services, which highlights the growing importance of blockchain technologies in government agencies.
