US Should Encourage Blockchain Investments, Says Former Defense Official

The US should promote investments in blockchain as part of a broader fight against cyberthreats, a former Defense Department official has said.

AccessTimeIconJun 15, 2017 at 4:42 p.m. UTC
Updated Sep 11, 2021 at 1:27 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

The US should promote investments in blockchain-based solutions as part of a broader fight against cyberthreats, a former US Defense Department official has said.

Eric Rosenbach, in testimony before the US Senate Foreign Relations Committee earlier this week, said that government agencies and private-sector businesses should collaborate to "incentivize investment in cloud-based security, blockchain-enabled transactions and quantum computing", according to a published draft of his remarks.

"As I mentioned, reducing the benefits that adversaries derive from cyber and information operations is a key aspect of bolstering our deterrence posture," he told the committee.

Rosenbach most recently served as US Secretary of the Army, a position within the Department of Defense, between May 2016 and January 2017, leaving his post when President Barack Obama exited office that month. He previously served as a chief of staff to the Secretary of Defense, as well as a stint as Secretary of the Air Force.

He's not the only one to call for such actions, but in a way, some of that work has already advanced in the past year.

Last month, Lockheed Martin, one of the largest US defense contracts, announced it is incorporating blockchain into its supply chain operation as part of a cybersecurity initiative.

The US Department of Homeland Security has doled out a number of grants of as part of a push toward, and in January, the government-backed National Science Foundation revealed that it wants to spend millions of dollars fueling research in this area.

Image via YouTube

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.