Almost half of Russia’s $630 billion reserves have been seized by foreign governments since the invasion of Ukraine. It was relatively easy to do given modern financial infrastructure. The mainstream temptation is to react favorably to this move. Russia will be poorer and so less able to fund its war. The baddies lose, the goodies win. Now consider the story of the Canadian truckers who have been criminalized by their own government for seemingly doing little more than protecting their right to work. Invoking emergency legislation, the Canadian government froze 210 bank accounts with deposits of C$7.8 million. And under pressure from the government, GoFundMe withheld C$10m in donations for the cause. The lesson — mess with the government, and we’ll steal your money. A key tenet of Bitcoin is its unseizability. Anyone, anywhere can own bitcoin, and be confident it can’t be taken away. That means Canadian truckers and their supporters, but it means the Russian government and their supporters too. You can’t apply Bitcoin principles to one, and not the other.
Full story : Sanctions Against Russia Pose A Conundrum For Bitcoin.
OODA network members can also access these additional resources on Web3 including insights into how to reduce risk and inform business strategies. Research and reporting of interest includes:
The Cryptocurrency Incident Database OODA analysts track every major cybersecurity incident and seek insights into root causes that can inform defenses.
What CEOs Need To Know About Bitcoin: Including potential new business models to consider A Cambrian Explosion in innovation in Bitcoin related products and services is underway. Here is what the business leader should know about this revolutionary transformation of the global financial sector.
Reducing Risk To Cryptocurrency Projects by Red Teaming We provide insights on prioritizing defenses of cryptocurrency projects based on our years of experience in red teaming.
Is Bitcoin a National Security Risk? How might Bitcoin be framed as a national security risk? As national security technologists, here is our take on where the government is likely concerned.
The Past Present and Future of DeFi Here we capture insights from two of our most popular OODAcasts on the cryptocurrency revolution, one with crypto pioneer Bradley Rotter and one with author of “The Infinite Machine” Camila Russo.
Bitcoin and Ethereum and the Metaverse Jahon Jamali is one of the great explainers of the nature of the crypto revolution and provides insights here into the nature of the coming changes.
What Will The Federal Government Do In Response To The Rise of Cryptocurrencies? All businesses and citizens should understand the importance of improving policy in this domain, but we also need to be cautious about over regulating or passing foolish rules that do more harm than good.
Disruptive and Exponential Technologies We track the rapidly changing world of technology with a focus on what leaders need to know to improve decision-making. Gain insights into the future of tech in a way that enables optimized action. We provide deep insights into Blockchains, Artificial Intelligence, Machine Learning, Cloud Computing, Quantum Computing, Security Technology, Space
