Topic: CHINA, RUSSIA, USA IN RACE TO USE BLOCKCHAIN FOR MILITARY OPERATIONS - page 2. (Read 283 times)

Your article is good but why do you confuse these concepts "BLOCKCHAIN" "ETF" "Cryptocurrency"?
Blockchain Is a technology that will change the world and can be used from banks to the most accurate things in our lives, from industry to agriculture, and therefore the military aspects are not far from it.
ETF regulation relating to money and its possible use in financial transactions.
Blockchain can be used without the need to regulate digital currencies.

The military always uses advanced technology. However, the use of BLOCKCHAIN in China, Russia and the US does not in any way affect the lobbying of the legalization of cryptocurrencies.

same with the palm oil example in the OP

you do not need a single blockchain that needs to last for eternity to hold every movement of palm oil barrels from 2018 to 21xx
instead it just needs a chain of blocks to represent each 'season'

it can have advantages
before military treasuries had to trust that when a procurement department ask for $5m.. that the $5m actually went to buying 2 engines of $2.5m as oppose to 2 engines of $2.4m and $200k in someones back pocket.

this way. the engine manufacturer can price the engine at $2.4m.. and add a identity for the engines. and send an invoice to the army base who then hand it to the pentagon who then hand it to the treasury. knowing no one can falsify the invoice while all departments agree that the items are needed

the pentagon, armybase and the temp working in the warehouse are then not handing funds. but instead the payment is locked to the engine manufacturer company and is only released when the engines are received by the armybase.

the downside of blockchain WAS. is that not every transaction needs to be kept forever. but because the blockchain in this example is not about a fixed supply currency where the origins of the funds need to be tracked back to its creation years prior the blocks can be prunned away after every 6 monthly treasury budget review

EG the treasury has $200b to hand to DoD. so the treasury creates 200b treasury credits.
they get transacted around the different departments. and within 6 months the engine manufacturer  and can show the path back to the DOD, pentagon, army base so gets the 4.8m treasury credits. and then sells the credits for $4.8m

after 6 months a new chain of 200billion treasury credits is made

there doesnt need to be an eternity existing single chain that keeps hold of decades of data on one chain forever growing

too many ICO's think that it has to be 1 chain and having to predict a token supply that will last a lifetime
EG a DoD chain of 40trillion credits to cover 100 years.
instead it can be 200 chains of 6 month budget worth of tokens per chain(created at each 6 month budget meeting). thus the system is covered for 100 years. where not all 200 chains need to exist for 100 years but can be deleted after 6months-10 years(whatever is practical)

I think Blockchain now has the necessary attention. Nobody doubted that Blockchain would exist in the future.

I feel they are just been unreasonable stubborn about it but on the long run, they would have a second thought and have no other choice than to embrace it fully. Bitcoin and Cryptocurrency as a whole is passing through refining processes and the result afterwards will be mind blowing.

The blockchain technnlogy is getting relevant everyday and more revelation about it use will come in other areas of life. For China who has been playing down on the bitcoin and stifling crypto business, I wonder how they can totally jettison cryptocurrency and push on the blockchain relevance while cryptocurrency is an innovation from it.

Militaries across the world are always looking for cutting-edge technologies to get a leg up on the competition. Blockchain is certainly not escaping scrutiny.

Officials inside of defense agencies are particularly interested the technology’s distributed consensus and anonymity capabilities.

NATO has been looking into blockchain’s use cases in regards to military logistics and procurement, and are also studying how it could mesh together with other cutting-edge concepts like the IoT.

So far, the United States, Russia, and China seem to express the most interest in researching how blockchain can be used for purposes related to the military, general national defense, and for cyber-related endeavors.

A CHANGING MILITARY LANDSCAPE
In the United States, entities related to the military have been looking into blockchain for a while. The 2018 National Defense Authorization Act, Section 1646 calls for the assessment of blockchain for military employment purposes.

Recently, the U.S. Naval Air Systems Command said they were looking into blockchain to help keep tabs on aviation parts, which could help lower the costs of operating and maintaining military aircraft.

Others speculate the technology could be rolled out by the Department of Defense (DoD) to manage nearly $100 billion dollars’ worth of inventory.

A Government Accountability Office report from 2015 specifically highlighted issues with the DoD’s systems for tracking and delivering supplies, something which blockchain has partially helped solve in other (non-military) areas, like the palm oil industry.

Besides the United States, Russian military officials have also been exploring use cases for blockchain.

Source: https://bitcoinist.com/china-russia-usa-blockchain-military/

This is getting very more interesting, no wonder ETF regulation is very important to the US Government.