Decrypting Bitcoin and Blockchain for Military Lawyers

Abstract

Bitcoin recently turned twelve-years-old. While opinions vary as to its current and future role in the global financial market, it remains the most well-known cryptocurrency and has ushered in a new era of currency. This new era has produced new legal questions and challenges, and government agencies continue to struggle with incorporating cryptocurrency into existing legal and regulatory paradigms. At the same time, blockchain technology, Bitcoin’s foundational technology, continues to find new applications and pose its own challenges beyond cryptocurrency. The military, logistics, and healthcare are only a few examples of the industries that have begun incorporating blockchain technology. Legal practitioners must begin paying more attention to this quickly evolving technology. This article should serve as a cryptocurrency primer for lawyers practicing in the Federal government. It will provide a basic overview of the history of Bitcoin and blockchain technology then discuss blockchain use cases for military interests and criminal law hurdles created by cryptocurrency. It will conclude by outlining important cryptocurrency issues Federal personnel should be aware of.