3 - 6 minute read
A graduate thesis on Bitcoin written by a U.S. Space Force major has emerged as a popular pick on Amazon. “Softwar” by Jason Lowery asserts that Bitcoin has the potential to play a major role on the world’s geopolitical stage as a military-grade solution for securing information. This is far different than the monetary use Bitcoin’s network has today. Lowery’s report represents the culmination of academic research he conducted at the Massachusetts Institute of Technology during a 6-month fellowship sponsored by the Department of Defense. The full title of the piece is “Softwar: A Novel Theory on Power Projection and the National Strategic Significance of Bitcoin.”
Lowrey’s brief biography on Amazon claims that he has advised several senior U.S. officials on Bitcoin-related policy in offices related to the president, Secretary of Defense, and the Joint Chiefs of Staff. Though “Softwar” doesn’t place within the top 500 books on Amazon’s store, Lowery’s exploration of Bitcoin has hovered around the number one spot in Amazon’s digital currencies category and is currently ranked second in both books on technology and engineering.
The more than 350-page tome draws on knowledge from various fields, such as anthropology and computer science, to establish and explore Lowery’s “Power Projection Theory.” Essentially, Lowery posits that the proof-of-work system underlying Bitcoin transaction verification can be leveraged by military powers to impose restrictions on bad actors in a non-lethal through a steep amount of physical work in the form of crunching numbers. “The bottom line is that Bitcoin could represent a ‘softwar’ or electro cyber-defense protocol, not merely a peer-to-peer electronic cash system,” the book states. “While most software can only logically constrain computers, Bitcoin can physically constrain computers.”
In his paper, Lowrey also writes that insufficient reserves of Bitcoin held on behalf of the U.S. government could pose a threat to the nation’s national security if the network becomes utilized as a cyber-security tool. “If the U.S. does not consider stockpiling strategic Bitcoin reserves, or at the very least encouraging Bitcoin adoption,” he said, “The U.S. could forfeit a strategically vital power […] and set itself back in global power dominance.”
The book also includes a disclosure that states the paper is not reflective of any official position held by the DoD, Air Force, or MIT. Out of the more than 200 ratings “Softwar” has received on Amazon, a majority gave the book five stars. A few reviews say that Lowrey’s text is lacking due to “too much wishful thinking,” “arguments based on opinion,” and quotes from “The Matrix” that “detract from the seriousness of the topic.”
The U.S. government has taken a growing interest in crypto over the past few years. DARPA, America’s Defense Advanced Research Projects Agency, has turned to analytics firm Inca Digital to build out a new crypto mapping tool to analyze the impact of cryptocurrencies on U.S. national security. The terms of the small business innovation (SBIR) contract will also give information about the role crypto plays in illicit finance. Specifically, Inca Digital’s government contracting division will “provide insight into the use of blockchain-based technologies linked to…”
While “Softwar” may not be a typical page-turner, it is an important work that sheds light on the potential military applications of Bitcoin. Lowery’s exploration of Bitcoin has brought attention to the cryptocurrency’s potential to play a significant role in securing information in the modern world. Traders should take note of this development and consider the potential impact on the asset. However, it is important to remember that trading carries high risk and we are not financial advisors. Any investment in Bitcoin or any other asset should be made with caution and after thorough research.
