Bitcoin Technology Review

Bitcoin Technology Review – Could there be Military Technology Implications for Bitcoin? 

Research Article submitted by: Sgt Johnathan Carter

Bitcoin Technology tasks are managed collectively by the network. This technology is a peer-to- peer currency. This basically means there is no central authority that either tracks transactions or issues money.

This technology has many benefits to the users. It is therefore important for potential users to master the main features and advantages of using this technology.

Cardinal Features Of Bitcoin Technology

(a) Full automation:

There are many ideas that can be incorporated in this technology to cut operating costs in different companies. The technology can be used in different types of vending machines, from coffee machines to bus ticket booths.

(b) Flexibility and transparency:

Selected balances and transactions can be revealed to only the relevant employees. Although the identity of the individuals behind the payments is private by default, all Bitcoin transactions are usually public and transparent.

(c) Decentralization and resilience:

This technology could provide a reliable platform for securing global and local monetary systems. It is quite hard to attack this network because there is no distinct data center.

This unique software can handle huge amount of money in trade without requiring any security. Bitcoin has therefore created a unique form of payment network with a perfect level of redundancy and resilience. This is also associated with its high level of decentralization.

Bitcoin Technology Military

(d) Integrity and trust:

This is a technology that can be employed by financial institutions to boost integrity and trust. This is a perfect solution to ensure that sub- standard financial institutions cannot manipulate the system to make a profit at the expense of the public and other banks. This is therefore a reliable solution to many trust problems that affect banks and other financial institutions.

(e) Proper management of multi- signature accounts:

The user is required to provide relevant additional credentials if he wishes to receive payments above the threshold. Multiple signatures only allow a transaction to be accepted by the network, only if the relevant person or group of persons agrees to sign the transaction.

(f) Perfect dispute mediation:

This technology utilizes multiple signatures to develop ideal dispute mediation services. This provides an ideal opportunity for third party to approve or reject a transaction. This happens when there is any disagreement between the other parties without having control on their money.

Main Benefits Of Using Bitcoin Technology

(a) Minimal risks for online merchants:

The availability of block chain or public ledger makes it very difficult to con or cheat any one. These transactions are also considered more secure because they cannot be reversed.

(b) Minimal fees:

The transactions of converting Bitcoin into flat currency have lower fees than pay pal or credit cards. The priority and speed of processing a transaction depends on the fees.

(c) Security and easy monitoring:

The safety of your money can be boosted by backing up and encrypting the Bitcoin. The technology also allows users to be in full control of their transactions to help keep the network safe.

(d) Increased freedom in payment:

There is no central authority figure in this network. The users are therefore in full control of their money. The users are also safeguarded against limitations such as having to crossing borders or to reschedule for bank holidays. Bitcoin has therefore become a popular way of sending and getting money anywhere in the world at any given time.

Disadvantages of using Bitcoin Software

(a) Still evolving:

This technology is still at the very initial stages. It still needs numerous features to boost its performance.

(b)Volatility and risks:

Bitcoin price bounces regularly due to current events related to digital currencies. Volatility is attributed to the fact that there is a limited amount of coins and their demand is increasing daily.

(c) Low popularity:

Holistic networking is needed to popularize Bitcoin. People need to be informed about the benefits of using this technology. For now only a few people are aware of Bitcoin and other digital currencies.

In conclusion, Bitcoin Technology will be a perfect remedy for online marketing. The technology is still at the infancy stages. People therefore need to be educated on why this technology is ideal in their lives. The above are the chief benefits and features of this unique technology.

 References:

http://bitcoin.org/

http://bitcoinwealthalliancereview.com/

2008 Issue

Features In this Issue of Military Geospatial Technology:

  •    Intelligence Agent

Lieutenant General Michael D. Maples Director Defense Intelligence Agency

  •     Industry Interview

Dan London Vice President Sales and Marketing BAE Systems

  •     View From the Hill

The U.S. must remain the standard-bearer for developing, maintaining and investing in space technologies, but space policy issues are not being addressed to the degree they deserve.

  •     Intelligence Beyond Imagery

The National Geospatial-Intelligence Agency is on the cusp of dramatic advances in GEOINT, as it focuses on using new technology, sensors, tools and methods to support advanced geospatial intelligence.

  •     Intelligence Family

Amid all of the discussion in recent years about the transition to network-centric warfare, the Distributed Common Ground System is one area where talk is being matched by action.

  •     ISR Interoperability Challenge

The National Geospatial-Intelligence Agency is co-leading an exercise to improve interoperability through the ability to transmit geospatial imagery and other types of intelligence.

Previous MGT VIP Interviews:

  •     Colonel Stuart Harrison – Commandant The School of Geospatial-Intelligence National Geospatial-Intelligence College
  •     James R. Clapper Jr.

Under Secretary of Defense for Intelligence

  •     Representative Silvestre Reyes

Chairman House Permanent Select Committee on Intelligence

  •     Rear Admiral Victor C. See Jr.

Director, Communications Systems Acquisition and Operations Directorate National Reconnaissance Office Commander, SPAWAR Space Field Activity Program Executive Officer for Space Systems

  •     Lloyd Rowland

Deputy Director National Geospatial-Intelligence Agency

  •     General Michael V. Hayden

Director Central Intelligence Agency

  •     Robert S. Zitz

Deputy Undersecretary for Preparedness Department of Homeland Security

  •     Donald M. Kerr

Director National Reconnaissance Office

  •     Vice Admiral Robert B. Murrett

Director, National Geospatial-Intelligence Agency

  •     Lieutenant General William Boykin

Deputy Under Secretary of Defense for Intelligence

2007 Issue

Features In this Issue of Military Geospatial Technology:

Donald M. Kerr - Director<br />
National Reconnaissance Office

  •     Recon Leader

Interview with Donald M. Kerr
Director National Reconnaissance Office

  •     Raytheon

Interview with Jane Chappell
Vice President Strategic Intelligence Systems

  •     Eyes for a Sharper Image

A new generation of commercial satellite-based camera systems expected to be operational in the first half of 2007 will provide electro-optical imagery in increased quantities, and with higher resolution and improved geolocation accuracy.

  •     Fusing Technology and Human Intelligence

On government facilities in and around the Washington, D.C., metropolitan region, an organization works to predict where threats are located. Where might resources be most effectively allocated to counter or disrupt the threats? The organization uses an innovative geospatial intelligence solution.

  •     Replicating Success

The mission of NGA’s Remote Replication System (RRS) is to provide custom geospatial intelligence solutions on demand for military and civilian customers. A deployable system that scans hardcopy or reads digital files to produce and print high-resolution maps, the RRS is one of NGA’s most responsive support services.

Previous MGT VIP Interviews:

  •     Vice Admiral Robert B. Murrett

Director, National Geospatial-Intelligence Agency

  •     Lieutenant General William Boykin

Deputy Under Secretary of Defense for Intelligence

  •     General James Clapper Jr.

The retired director of the National Geospatial Intelligence Agency answers questions about the future of intelligence.

  •     Charles E. Allen

Chief Intelligence Officer Department of Homeland Security

  •     General Michael V. Hayden

Principal Deputy Director of National Intelligence Guiding the Intelligence Community and Protecting America

  •     Brigadier General Dale C. Waters

Military Executive and Director for Military Support and Operations National Geospatial-Intelligence Agency

  •     Admiral Timothy Keating

Preserving the Nation’s Security Commander NORAD and USNORTHCOM

  •     Brigadier General John T. “Tom” Sheridan

Program Executive Officer and System Program Director Space Radar Program

  •     Peter Teets

Acting Secretary of the Air Force and Director, National Reconnaissance Office

  •     Colonel Brian Cullis

Executive Manager, Defense Installation, Spatial Data Infrastructure

2006 Issue

Features In this Issue of Military Geospatial Technology:

Brigadier General Dale C. Waters - Military Executive and Director<br />
for Military Support and Operations<br />
National Geospatial-Intelligence Agency

  • GEOINT Warfighter

Interview with Brigadier General Dale C. Waters
Military Executive and Director for Military Support and Operations National Geospatial-Intelligence Agency

  • The Next Evolution of Geospatial Intelligence

View from the Hill
Structural and technical changes provide challenge and opportunity for improving geospatial intelligence. Next-generation persistent surveillance assets can unlock some difficult problems, but hard work lies ahead.

  • BAE Systems

Interview with Dr. Bill L. Ballhaus
President of National Security Solutions

  • Revolutionary Target Recognition

With a little grant money, universities are helping the Air Force Research Laboratory brainstorm ways to better automatically detect adversarial targets in the urban battlespace.

  • Defending the Homeland

The National Geospatial-Intelligence Agency plays a central role in homeland defense and in ways that would surprise many in the intelligence community.

  • The Not-So-New Kid on the Block

Pixia Corp. recently launched Pixia Federal to better serve its government customers. But don’t be fooled. This “new” entity has plenty of experience and cutting-edge technology practical beyond its cool factor.

  • Hurricane Preparedness

At the end of one of the most horrendous hurricane seasons in U.S. history, Langley Air Force Base shares details on one of its tools to help prepare for and recover from a hurricane’s flood waters.

  • Geospatial Harmony

The Army is meeting the geospatial needs of the services—from warfighter up to the top command—with the Joint Geospatial Enterprise Services.

Previous MGT VIP Interviews:

  • Admiral Timothy Keating

Preserving the Nation’s Security Commander NORAD and USNORTHCOM
Brigadier General John T. “Tom” Sheridan
Program Executive Officer and System Program Director Space Radar Program

  • Peter Teets

Acting Secretary of the Air Force and Director, National Reconnaissance Office

  • Colonel Brian Cullis

Executive Manager, Defense Installation, Spatial Data Infrastructure

  • James R. Clapper Jr.

Director, National Geospatial-Intelligence Agency

  • Dr. Stephen A. Cambone

Undersecretary of Defense for Intelligence

  • Colonel Jeff LaMoe

Commandant National Geospatial Intelligence School

  • (Ret.) Lt. Gen. James R. Clapper Jr.

Director, National Geospatial-Intelligence Agency