A Coin for the Tsar: The Two Disruptive Sides of Cryptocurrency
Abstract
Vladimir Putin is getting the Kremlin into the cryptocurrency business, and the United States should be worried: The West is still reeling from the last time Russia delved into disruptive social technology. For kleptocrats and non-state groups alike, cryptocurrencies—like Bitcoin— provide a means to “commit the oldest sins in the newest ways;” what’s more, an adversary state can scale up these novel advantages to further disrupt the contemporary security environment.[i] However, cryptocurrencies also offer a host of benefits to entrepreneurial individuals and innovative economies. Acting to influence the cryptocurrency ecosystem can be a decisive option for national competition below the threshold of war, whereas not acting magnifies the asymmetric advantage these technologies provide to our adversaries, particularly Russia. This paper examines the evolving power of cryptocurrency, describes threat behaviors enabled by the technology, and recommends some ways to counter threat activity in this nascent digital economic environment while preserving the possibilities for healthy innovation.
Description
Captain Telley warns about the dangers of Russia getting into the cryptocurrency business in "A Coin for the Tsar: The Two Disruptive Sides of Cryptocurrency," written for the Small Wars Journal. As he states, "This paper examines the evolving power of cryptocurrency, describes threat behaviors enabled by the technology, and recommends some ways to counter threat activity in this nascent digital economic environment while preserving the possibilities for healthy innovation."
Rights
This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.Collections
Related items
Showing items related by title, author, creator and subject.
-
CRYPTOCURRENCY AND STATE SOVEREIGNTY
Frebowitz, Ryan L. (Monterey, CA; Naval Postgraduate School, 2018-06);Since Bitcoin’s release in late 2008, the cryptocurrency has grown and proven itself as a disruptive technology, resistant to sovereign law and international financial regulations, and an alternative to the sovereign state’s ... -
BITCOIN: A TECHNOLOGY-INFLUENCED SOCIAL MOVEMENT
Johnson, Jason D.; Green, Terrance D. (Monterey, CA; Naval Postgraduate School, 12);Over the past decade, the Bitcoin-inspired cryptocurrency industry and blockchain technology have continued to evolve and reshape the global financial industry, despite resistance from state governments to prevent the ... -
SPECIAL OPERATIONS AND CRYPTOCURRENCY: CONCEPTS TO HARNESS INNOVATION FOR NATIONAL SECURITY
Rowen, Michael S. (Monterey, CA; Naval Postgraduate School, 2022-12);Concepts to harness positive opportunities inside the cryptocurrency ecosystem to advance national security objectives have yet to be fully explored in government organizations. This thesis, focuses on cryptocurrency as a ...