News

U.S. Department of Defense Research Branch to Host “Permissionless” Blockchain Workshop

The United States Defense Advanced Research Projects Agency (DARPA) will be organizing a two-day blockchain workshop in February 2018. This was let out via an official request for information (RFI) posted Nov. 19.
The research arm of the U.S. Department of Defense, DARPA is set to conduct an in-depth investigation on technologies for distributed consensus during a workshop “tentatively scheduled for February 14 and 15, 2019, in Arlington, VA.”

The Permissionless Blockchain Workshop

According to the five-page RFI published by the agency’s Information Innovation Office (I2O), the so-called ‘permissionless’ distributed consensus protocols are of particular interest to DARPA.
Permissionless systems are usually referenced in the paper as protocols “where any individual may join in the computation.”
It also included the fact that the federal agency is interested in “several, less-explored avenues of permissionless distributed consensus protocols” though there exists a “substantial amount” of research in the field.

The Three Topics of the RFI

The request for information will major on three distinct topics for the three-day blockchain workshop — the document further expatiated by stating that “permissionless distributed protocols must incentivize various aspects of participation in the protocol,” as it notes Bitcoin (BTC) mining as a viable example system.
Creating a large-scale “permissionless” distributed consensus protocols without paying participants is what the first topic is focused on while the second topic centers on economic-driven security models for distributed computation protocols. Also, inquiries would be made about “methods that leverage rigorous economic notions to advance theories of security for distributed, permissionless computation protocols.”
The last topic which is equally the third focuses on “centralities of distributed consensus protocols.”  The responses in this session are “novel analyses, methods to analyze and/or address the centralization of a distributed consensus protocol,” but also “unintended centralities and/or associated mitigations.”

Highlighted Potentials of Blockchain Technology 

The inherent potentials of the blockchain technology for data security and storage as underlined in the RFI. The government department stated that;

“Technologies for distributed consensus protocols have been revolutionized by their prominent role in cryptocurrency and blockchain technologies. These technologies have dramatic implications for the security and resilience of critical data storage and computation tasks, including for the Department of Defense.”

On a global level, several governments have continued to show their interest in blockchain technology uncontrollably. For instance, it was earlier reported that the German Federal Ministry of Economic Affairs and Energy (BMWi) was planning to use blockchain to fight tax evasion in the country.

Related posts
BanksBitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTMarketsNewsUSAxbtusd

Bitcoin Retakes $57K As Hundreds Of US Banks Prepare To Offer Crypto Trading And Custody To Clients

Bitcoin has recouped the losses from recent sell-off after news that the world’s oldest cryptocurrency is soon coming to hundreds of United States banks. Data from CoinMarketCap shows that bitcoin is hovering at $57,091.36 at press time, with 5.47% daily…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTJamie DimonjpmorganNewsxbtusd

My Clients Care About Bitcoin, I Don’t: JPMorgan CEO Jamie Dimon

The trajectory that bitcoin has seen over the last decade has been nothing if not interesting. There was a time where it was popular among top financial executives to denounce bitcoin and declare it is a scam or fraud at…
CoinbasecryptocurrencyCryptocurrency NewsFeaturedNews

How Coinbase is Driving the Crypto Market to the Richest Fintech Hands

Not every cryptocurrency proponent is a fan of the giant exchange platform Coinbase. But if sentiments are kept aside, it is crystal clear that the platform is leading the cryptocurrency market into some of the richest hands the industry will…