House Pressure main Jason Lowery believes that the U.S. authorities ought to stockpile Bitcoin (BTC) and arrange mining operations to compete for a share of management over the community.
He additional states that BTC needs to be protected underneath the second modification as it’s primarily a weapon for self-defense.
Lowery’s proposal is a part of his graduate thesis referred to as “Softwar” — presently the best-selling know-how guide on Amazon. It was revealed on Feb. 18 and is shortly taking the crypto neighborhood by storm as a result of its concepts that Bitcoin has nationwide significance.
Bitcoin is a weapon
In his thesis, Lowery argues that the Bitcoin community is analogous to maritime commerce routes and that governments ought to guarantee free navigation and commerce on the community are protected. Lowery additionally argues that this can be a navy crucial and that the subsequent era of warfare will probably be cyber.
Moreover, Lowery believes that Bitcoin might function a cybersecurity instrument by integrating its validation system with different applications.
On this situation, a program could be designed to solely reply to exterior alerts if they’re recorded on transactions on the Bitcoin community — primarily placing an finish to cyber-attacks like denial-of-service.
Lowery believes that the Bitcoin community is the best choice
The primary premise of Lowery’s thesis is that Bitcoin’s proof-of-work (PoW) consensus mechanism gives states a new-age methodology to compete for energy and sources that doesn’t contain bloodshed or bodily pressure. He harkened again to the cold-war for example, a time when international locations competed with one another via sports activities and chess for status.
Nonetheless, within the case of those PoW contests, international locations would compete for community tokens — like Bitcoin — and the proper to validate the following blocks on the community. Lowery paints these PoW contests as a approach for governments to regulate networks used to assign summary property rights.
Beneath this situation, the necessity for the state to guard and management the community turns into paramount, based on the thesis.
Lowery additional proposes that governments ought to agree to make use of the Bitcoin community for this function.