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Coinbase: Embracing Cryptocurrency Holds the Key to the Future of U.S. National Security

Against the backdrop of increased regulatory uncertainty and a prevailing anti-cryptocurrency sentiment in the United States, Coinbase, a prominent US-based cryptocurrency exchange, has established a connection between cryptocurrencies and national security.

In a detailed blog post, the firm emphasized that the United States must embrace cryptocurrencies in order to facilitate and enhance national security.

The article published on May 30 delved into the repercussions of embracing emerging technologies on security and global leadership. Coinbase: Embracing Cryptocurrency Holds the Key to the Future of U.S. National Security

Coinbase also underscored the historical significance of the United States in terms of its involvement in wars and economic development. The article emphasized how innovation and technology played a crucial role in propelling the nation to the forefront of global leadership.

Coinbase US Surrendered its Position in Innovation and Technology

According to Coinbase, the United States appears to have lost the impetus it had after World War II when it explored numerous technologies in an effort to maintain its global dominance. Coinbase: Embracing Cryptocurrency Holds the Key to the Future of U.S. National Security

Despite being at the forefront of the technological revolution, the United States gradually relinquished its leadership position to other countries such as Japan, Taiwan, and Korea.

These countries emerged as world leaders in chip manufacturing, a critical component in computer technology, defense systems, internet infrastructure, gaming, and blockchain technology.

Coinbase asserted that concentrating the production of vital goods like these in a single region poses a geopolitical risk.

In its post, the cryptocurrency exchange further emphasized the risk of counterfeit electronic chips, which not only pose a threat of malware introduction but also the potential for data theft due to the inclusion of harmful substances.

Coinbase also expressed the view that considering the significance of electronic devices in everyday life

and military applications, the inability to produce advanced chips could leave the United States vulnerable to external attacks.

After a prolonged period of indecisiveness, the United States finally took action in 2022. The CHIPS Act was established with the support of the White House and bipartisan members of Congress.

This initiative allocates $52 billion to support the advancement of semiconductor development and

manufacturing within the United States, with an additional nearly $100 billion designated for research

purposes over the course of five years. Coinbase: Embracing Cryptocurrency Holds the Key to the Future of U.S. National Security

While the initial outcomes of this endeavor are promising, it will undoubtedly take several years to rebuild

the United States as a prominent global hub for microchip manufacturing.

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