Bitcoin Named as Terrorism Threat

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term has been identified as a technology in a recent counterterrorism program as a threat to national security.

The initiative is being run by the Combating Terrorism Technical Support Office (CTTSO), a division of the Department of Defense which investigates threats of irregular warfare and develops counterterrorism capabilities. It has asked vendors to identify and submit ideas of state-of-the-art technologies of interest. The deadline was this past Friday. Bitcoin was named as one such technology.

In a January memo, the CTTSO detailed solicitations for its projects and stated one of the mission requirements to find “innovative...solutions to develop and/or enhance new concepts and constructs for understanding the role of virtual currencies” in financing terror in the United States. On the effectiveness of Bitcoin, it said:

“The introduction of virtual currency will likely shape threat finance by increasing the opaqueness, transactional velocity, and overall efficiencies of terrorist attacks”

In March, the Treasury Department reported that if did not find "widespread" use of virtual currencies to finance terrorism.

Apparently though, Bitcoin isn't opaque enough to effectively finance terrorism and other crimes according to the makers of the Dark Wallet extension. Their recently launched app adds additional layers of privacy to transactions made on the publicly-viewable Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term.

One of its founders said, "I want a private means for black market transactions, whether they’re for non-prescribed medical inhalers, MDMA for drug enthusiasts, or weapons." Essentially, "it's just money laundering software." Even though such technology can facilitate child pornography, murder-for-hire and terrorism, he says, "Well, yes, bad things are going to happen on these marketplaces.....Liberty is a dangerous thing.”