US National Security Strategy Highlights Benefits and Drawbacks of Digital Currencies

The latest article was penned by Matt Smith, professor of aerospace studies at the University of Nebraska Lincoln in Bitcoin Magazine. The article reads into the observations published in the version of the National Security Strategy or NSS. The article talks about the increasing pressure on the USD to be dethroned as the international currency of exchange.

There is also the mention of increasing traction around digital currencies and decreasing value of the hard assets and real valuables. As per the article, the central governments will not work to ban Bitcoin but rather compete against each other to acquire it.

The article also suggested that the countries with greater reserves of Bitcoin will enjoy greater political power and economic supremacy over others.

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Economic Supremacy

As per Smith, the NSS contains the scope of retaining the economic supremacy of the USA and working on solutions to tackle its international challenges. The document created by the executive branch of the White House works as a guide for Congress.

The charter seeks to maintain its tenets of freedom and democratic values. At the same time, promises to protect the interests of the US citizens.

It seems that the USA has considered all options and possibilities when it comes to the outcome of the increasing influences of digital currencies. The Trade and Economics section of the NSS maintains that projects like Digital Dollar are going to ensure privacy, stability, and security for its users.

Bitcoin which has been formerly dismissed is now too big to ignore and NSS has shed some light on its impact on US economic development.

Professor Smith has suggested that Bitcoin is compliant with the requirements of economic development that are mentioned in the NSS. He writes that Bitcoin is one of the most secure ways of monetary exchange.

More companies and individuals are working on paying their loans in the form of Bitcoin instead of paper money.

He also believes that Bitcoin is no longer viewed as a national security threat on the government scale. He further pointed out that ignoring Bitcoin can result in pushing back the economic development of the USA.

In the end, he concludes his review of NSS by postulating that the exclusion of Bitcoin is the real national security threat to the US government.

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