Congress is asking the Department of Defense (DoD) to explain its growing interest in blockchain. Blockchain is the secure digital ledger system that can be used to protect financial transactions, defend against cyberattacks, protect supply chains, and enable secure intelligence communications.
The defense authorization bill passed by the Senate includes a directive that the DoD conduct a comprehensive blockchain study. It has to be delivered to Congress within six months of the bill’s signing. The mandate requires the DoD report on “the potential offensive and defensive cyber applications of blockchain technology and other distributed database technologies and an assessment of efforts by foreign powers, extremist organizations, and criminal networks to utilize these technologies.”