US Senate Recommends Blockchain
YEREVAN (CoinChapter.com) — The United States Senate Committee on Armed Services directed the Department of Defense (DOD) to explore blockchain technology for national security. This is part of the fiscal year 2025 National Defense Authorization Act (NDAA) report, issued on July 9, 2024. The committee highlights blockchain’s potential to secure supply chains. It can also enhance data integrity and protect against data manipulation by competitors.
Senate Defense Report FY2025. Source: United States Senate Committee on Armed Services Senate Pushes Blockchain for Secure Defense Supply Chains
The Senate committee believes blockchain can improve the cryptographic integrity of defense supply chains. Blockchain ensures data in these supply chains remains tamper-proof and transparent. Consequently, it reduces the risk of data corruption and strengthens overall national security.
Secretary of Defense Retired General Lloyd Austin must provide a briefing on blockchain applications by April 1, 2025. The briefing will cover six key findings, including a plan for pilot programs and research to explore blockchain in national security. Areas of focus will include supply chain management, cybersecurity for critical infrastructure, and procurement auditability.
Senate Examines Blockchain for Global Supply Chains and Cybersecurity
The Senate report calls for an analysis of the benefits and risks of blockchain in supply chain tracking and management. This includes examining how blockchain is currently adopted in the supply chain industry, both in the US and internationally, in countries like China and Russia. The report also seeks to identify the feasibility and cost estimates of implementing blockchain technology in these areas.
The committee is also looking into blockchain’s broader applications, such as cybersecurity for critical infrastructure. The aim is to create secure, transparent, and auditable data systems that support various national security goals.
Trump Campaign Backs Bitcoin and Crypto Rights in New Policy Update
On July 8, 2024, the Republican Party presidential candidate Donald Trump’s campaign website updated its policy platform to include support for Bitcoin and crypto adoption. The Republican National Committee’s draft policy supports the right to mine Bitcoin. It ensures Americans can self-custody their digital assets. The policy opposes any government interference.
Republican Policy Highlights 2024. Source: Republican National Committee Policy Platform
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