Since blockchain first appeared in 2009 as the digital ledger for Bitcoin cryptocurrency transactions, it has steadily taken the online world by storm, in the process practically becoming a synonym for security. Even if a lot of people still don’t know what it is, they’re beginning to hear it more and more. IBM, for instance, has taken to mentioning “blockchain for security” in its TV ads. And in a sure sign of pending mainstream acceptance, a “Blockchain for Dummies” book is now available. […]
The Department of Defense (DoD) is cooking up big plans for blockchain technology, the digital ledger best known for its support of cryptocurrencies such as Bitcoin and Ethereum. The technology’s decentralized, encrypted approach holds promise for a variety of secure functions in addition to financial transactions, from cyber defense and distributed communications to protecting the digital supply chains used by deployed forces for 3D printing. A Navy officer on the Naval Innovation Advisory Council has written that blockchain could “revolutionize” the way military operations over the next decade.[…]
Industry executives urged the Federal government to do more to advance the use of blockchain technology to secure online financial transactions, and to get behind nationwide adoption of cybersecurity insurance.