Again with all of you, in this opportunity I will expose the little talked about usefulness of Bitcoin within the strategic principles for authorities such as the United States of America to mitigate risks related to cryptocurrencies.
Before addressing some of the details, it should be noted that the Bitcoin Policy Institute responded to a request from the Treasury Department regarding how Bitcoin and its ecosystem can serve national security in the United States of America.
The truth is that, according to the Bitcoin Policy Institute, U.S. authorities should know more about Bitcoin technology and its ecosystem in order to strengthen national security. And, instead of policing it, they could use it to mitigate risks commonly coined to cryptocurrencies.
For those who don't know, the Bitcoin Policy Institute is a non-profit, non-partisan U.S. organization dedicated to the study and research of the political and social implications of the first cryptocurrency and the rest of the market.
According to the Bitcoin Policy Institute, one of those principles has to do with the need for a "balanced net assessment" of the implications of Bitcoin and its ecosystem. Something that would allow the United States to take full advantage of these technologies for its national security.
Another principle relates to designing policies not to focus on a particular risk without first considering all strategic interests that may be favorable, and to avoid making premature and heavy-handed decisions that overburden national security interests at the expense of open innovation and technological leadership.
Finally, the Bitcoin Policy Institute also states as a principle for government agencies to follow, to recognize the decentralization of digital assets such as Bitcoin, which are currencies that do not have a leader, nor a governing body, in this sense the researchers suggest that tax policies and other cross-border accounting regulations facilitate U.S. entities to receive Bitcoin as an investment and as payment for exports.
SOURCES CONSULTED
Bitcoinist. From The BPI To Treasury: Bitcoin Is A Strategic Asset for National Security. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: Forbes.
