The committee has published recommendations for fiscal year 2025 to implement the National Defense Authorization Act (NDAA). With the help of blockchain, the United States can improve economic competitiveness, increase transparency in defense procurement, improve data integrity, and reduce the risk of manipulation of information and prevent data corruption by competitors, the lawmakers believe.
The Senate is asking Defense Secretary Lloyd Austin to hold a briefing on the issue by April 1, 2025. The briefing would outline a plan to use blockchain in pilot projects: national security and logistics, to verify government procurement. The Armed Services Committee called for studying the potential of blockchain in foreign procurement, and also analyzed the potential costs and feasibility of using smart contracts.
US presidential candidate Donald Trump has promised to develop the mining industry and protect the right of citizens to mine Bitcoin. The founders of the Gemini cryptocurrency exchange, the Winklevoss brothers, donated Bitcoin to Trump’s election campaign. Kraken cryptocurrency exchange co-founder Jesse Powell also supported Trump, sending 290 ETH worth $1 million to his foundation.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
