Key Insights
- A US Space Force Major has just highlighted that Bitcoin’s technology can be used for more than just money.
- Major Lowery says that Bitcoin’s PoW algorithm can be used to secure the US’ cybersecurity infrastructure.
- Lowery also says that the US may have wasted time by not incorporating Bitcoin into its cybersecurity systems sooner.
Here’s something you probably didn’t know about Bitcoin:
Private keys are almost impossible to guess, hack or crack. We say “almost†because there are currently no computers powerful enough to break the algorithms that secure the network.
This is one of the factors that give Bitcoin so much of its popularity and promise as the future of money.
But aside from money, what other use cases could Bitcoin’s technology have?
US Space Force Major, Jason Lowery may have an answer.
Bitcoin For Cyber Security
Bitcoin’s underlying technology can be used for so much more than just money. This is why we say that the world has barely scratched the surface of blockchain technology.
In a recent letter addressed to the U.S. Defense Innovation Board on Dec. 2 via LinkedIn, US Space Force Major, Jason Lowery presented some very interesting use cases for Bitcoin.
Lowery says that BTC technology can be used to secure data, messages, and command signals. He says that this is one of the core aspects of the technology that is largely underappreciated.
To this end, BTC can be used to boost the US’ cybersecurity infrastructure with unbreakable codes and uncrackable messages.
Lowery Says The US Has Wasted Time
BTC works with a consensus algorithm called Proof of Work (PoW).
This technology is currently being used to secure the network and provide rewards to miners for their “workâ€.
However, Lowery believes that PoW can be so much more. He posits that the US securing its network and systems with PoW would make it much harder to attack. Any would-be attackers would have to spend a lot of energy and resources to successfully crack a well-established PoW network.
“Our limited view of Bitcoin as just a monetary system may be causing us to underestimate its potential […]. Integrating these insights, I argue that Bitcoin is not merely a cryptocurrency, but the beginning of a cybersecurity revolutionâ€
Because of this, PoW can serve as a deterrent to potential bad actors.
Lowery even mentioned that the US government may have “wasted precious time†by not incorporating Bitcoin into its cybersecurity systems sooner.
Overall, Lowery is a national defence fellow at the Massachusetts Institute of Technology (MIT). We can conclude that these aren’t the words of a layman by any means.
Who knows, the very asset we use to move money safely and anonymously through the internet, may one day serve as what protects us against cyber (and other) threats.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.
