US Senate

US Senate Wants Blockchain

The US Senate is making a significant move towards integrating blockchain technology into national security. This decision aims to position America as a leader in blockchain, reflecting a shift in the Biden Administration’s stance on crypto, influenced by Trump’s campaign. The news comes as a big positive for Blockchain and Crypto enthusiasts who are surrounded with negative Bitcoin updates from Germany lately

National Defense Authorization Act (NDAA) Report

  • Mandate: The US Senate has mandated the Department of Defense (DOD) to utilize blockchain for supply chain management and national security applications.
  • Acknowledgment: The potential uses of blockchain technology for national security purposes have been recognized by the committee.

Strategic Objectives set by US Senate

The primary focus is to ensure:

  • Transparency
  • Accountability
  • Auditability

These objectives are aimed at enhancing the cryptographic integrity of the US national defense system.

Secretary of Defense’s Role

By April 1st, Secretary of Defense Lloyd Austin must:

  • Provide a detailed briefing on the pros and cons of integrating blockchain into America’s supply chains.
  • Analyze the current state of blockchain adoption within the DOD and the defense industrial base.
  • Estimate the resources required for full integration.

Blockchain Benefits for US Senate

The US Senate believes blockchain technology can:

  • Enhance cryptographic integrity of the defense supply chain.
  • Improve data integrity.
  • Reduce the risk of data manipulation or corruption by near-peer competitors.

Global Context

With other countries like China and Russia advancing in blockchain research, the US Senate wants to keep up and potentially surpass them. This urgency reflects America’s drive to maintain its global technological leadership.

Political Implications

  • Republican Support: Republicans are increasingly supporting crypto, influencing the current administration to reconsider its stance.
  • Party Platform: The GOP recently included Bitcoin mining and self-custody rights in its party platform draft.
  • Anti-CBDC Stance: Republicans have made it clear they are against Central Bank Digital Currency (CBDC), accusing Biden of wanting to control Americans’ finances.

Industry Support

The crypto industry largely supports Trump’s election campaign, as he promises to support Bitcoin mining in America if elected. This political dynamic is contributing to the changing landscape of crypto regulation and adoption in the US.

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