Bitcoin

How Bitcoin Becomes Resistance Money and National Security Concern

In just over 10 years, Bitcoin (BTC) has evolved from a small cypherpunk community (encrypted activists) to a national security affair with significant geopolitical implications.

In the panel Unitize titled “From Bitcoin to Fedcoin: The Next Decade of Digital Money”, Meltem Demirors, CSO of CoinShares, and moderated by Andy Bromberg, President of CoinList, who actually spent very little time talking about it Fedcoin and digital currencies generally issued by central banks (CDBC).

Instead, They focused primarily on the impact of a changing geopolitical landscape, in which Bitcoin will play a role in the next war for technology dominance, while acting as a key factor in the digital “escape” from state control.

Bring bitcoin mining to the U.S.

How Bitcoin Becomes Resistance Money and National Security Concern
How Bitcoin Becomes Resistance Money and National Security Concern

Demirors noted a major shift in global power dynamics that had started in recent years. He described this change as an emerging narrative that focuses on it the importance of “computers and connectivity in the context of cybersecurity and national defense”.

He cited some reference points to this phenomenon, how Amazon Web Services became the largest defense company, or how Huawei was accused of jeopardizing US national security. Meltem believes that all of these points were politically motivated because the United States “has expressed concern that foreign governments can participate in building the country’s infrastructure.”

Semiconductor companies also like Intel and TSMC have started looking for ways to bring production back “on the spot” to the United States or to their respective countries.. The same thing is likely to happen in the case of Bitcoin mining:

“I think within five years it would be very likely that 40%, if not more, of Bitcoin mining would take place in the United States. It is very likely that governments will consider large cryptocurrency networks as part of their national security strategy.”

Bitcoin as resistance money

Speaking of stable coins and especially about government-issued digital currencies, Demirors believes they are in a completely different category than Bitcoin:

“I think what we’re seeing right now is that people are adapting to the idea and trying to implement it in different ways. CDBC has absolutely nothing to do with Bitcoin. These are authentic.”

In their opinion, these systems are based on blockchain It could be part of a deliberate misrepresentation as propaganda “gradually reaches this industry”.

At the same time, both Demirors and Bromberg noted this CDBCs could be an improvement over today’s trust infrastructure. He added:

“I think different requirements require different tools. Ultimately, Bitcoin and all these other cryptocurrencies, Digital Fiat and these other projects are just the tools we are trying to use to solve our problems.”

In your opinion, The problem that Bitcoin solves is that of “choosing a monetary system”. People who may be unsatisfied with how the system works have few options to defend themselves, and while dollar-based currencies can solve some of these problems, they solve the problems of “financial censorship, financial control and” non-fundamental lack of privacy. “

For them, Bitcoin is “the horse on top” to become a form of resistance money.

So, Paradoxically, Bitcoin can be seen as a matter of national security and a way to escape it.

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