Cryptocurrency and therefore the blockchain have gradually gained momentum as topics of conversation. That is why more and more people invest heavily in this new technology. Some countries decide to create national cryptocurrencies, and types like AT&T and Kodak are working with the blockchain.
Some people wonder why there couldn’t be a military blockchain or cryptocurrency too due to these developments.
A Push for an Army-Specific Cryptocurrency
In 2017, Morgan Rockwell, the CEO of Bitcoin Inc., tried to create interest around a cryptocurrency called Army Coin. Rockwell asserted that it could help the U.S. Army self-fund a number of its military technology, plus allow the general public to require part via crowdfunding.
In his Medium piece about the project, Rockwell also proposed that military personnel could use the cryptocurrency to procure things aboard or get authorization for brand spanking new equipment.
However, Rockwell apparently couldn’t achieve enough traction to create the military note. The cryptocurrency’s official website now not exists, and therefore the last Twitter update on its feed was a pair of years ago. Although that effort ultimately fizzled out, a number of Rockwell’s points highlight why a cryptocurrency could work well in some instances.
Deployed soldiers get paid, for example, via direct deposit. That system serves its purpose but having access to cryptocurrency could aid soldiers in sending money to their relations. If a soldier’s young daughter is celebrating a birthday soon, they could send some cryptocurrency to a spouse to assist fund the party.
Cryptocurrency could also provides a soldier a convenient payment option after they want to shop for something aboard without carrying cash.
The Army Considers Blockchain to Secure Its Communications
Even though it seems there aren’t any serious plans to launch a military cryptocurrency, there’s a related possibility. A branch of the military that deals with securing terrestrial and satellite communications reportedly considered blockchain technology to fulfill its needs, together with several other options.
For example, it’s interested in the feasibility of a personal blockchain that tracks the origin and movement of messages through the network and will detect if modification happens.
The Army also wants details about a way to build a blockchain-based user authentication system. It might prefer to quickly add or remove users PRN throughout its existence.
However, such projects are still within the early stages. Army personnel submitted asking for information. Meaning they need to work out what’s available but isn’t committing to using the technology or awarding contracts to providers yet.
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About Military Aviation Components, The Blockchain Could Keep Records
Sources indicate that military operations within the U.S., China and Russia appear the foremost fascinated by counting on the blockchain. One in all the ways they may use it’s to observe equipment parts as they progress through the availability chain and ensure their authenticity. Recently, a subgroup of GE Aviation built a blockchain with Microsoft Azure to trace the sources and lifespans of airplane parts.
This approach could eliminate the chance of counterfeit parts. When branches of the soldiers have unaddressed issues with counterfeit parts, those components could cause mission failures and questions of safety, plus pose national security risks.
The sector of GE Aviation that made the blockchain isn’t the one that sells parts to the military. For a military blockchain, however, there are still valid use cases.
A branch of the U.S. Navy recently launched a pilot program that relies on the blockchain to remain awake to aircraft parts throughout their lifecycles. Having this information more accessible could facilitate efficient, cost-effective maintenance, also as safeguard against counterfeiting.
Cryptocurrencies Could Help Stabilize Recovering Nations
Some people also think cryptocurrencies could empower countries in need, like nations that have corrupt banking systems. Rob Viglione is that the CEO of a cryptocurrency company called Horizen, but his interest was apparent abroad, too.
He was deployed to Afghanistan in 2013 as an information scientist for the U.S. Army, and an introductory cryptocurrency course while there is what he taught Afghan citizens.
Viglione still believes cryptocurrencies give people relief from the strain of volatile economies. If branches of the militia had cryptocurrencies for his or her soldiers to use, it’d likely be easier for those service members to elucidate to residents how they work.
Then, when military members are sent to cater to upheaval and assist societies with returning to sustainability, they could refer cryptocurrency as an option.
Blockchain for Military Health Records and the Value of Using It
Many health care brands are pondering potentially using the blockchain to stay medical records secure.
A company called ManTech makes a speciality of providing technological solutions to the military. It proposes employing a military blockchain for health data related to Veterans Affairs health services and also the Department of Defense (DoD).
Things can get complicated if a member of the military receives medical treatment in their home community, however while deployed in an exceedingly foreign country that doesn’t have a robust medical records infrastructure. What could promote consistency, plus convenience is keeping this data on the blockchain.
No Long-Term Commitments Yet
Though the latter seems less likely, out of the question are neither a military blockchain nor a military cryptocurrency.
However, military entities are still testing the worthiness of those options. They haven’t confirmed a widespread rollout, and it’s uncertain when or if they’ll. All people can do is wait and see.