November 10, 2020
Don’t Sleep on China’s New Blockchain Internet
U.S. national security policymakers are working aggressively to push back China’s global market advance in 5G and artificial intelligence technology. Meanwhile, the Chinese Communist Party (CCP) is progressing unfettered in a parallel technological campaign: expanding global blockchain infrastructure.
The Chinese Communist Party (CCP) is progressing unfettered in a parallel technological campaign: expanding global blockchain infrastructure.
Earlier this year, Beijing launched the Blockchain-Based Service Network (BSN), a system of low-cost backend architecture on which software developers around the world can build blockchain applications—including digital assets such as cryptocurrencies. The launch happened a few months after Chinese President Xi Jinping pressed for the nation to leverage blockchain technology to complement the rising economic importance of big data and the “internet of things.” This BSN has received little attention in the U.S.—but if the network gains significant international adoption, it could give the CCP greater influence in digital commerce and complicate U.S. economic statecraft. For decades, U.S. financial authorities have benefited from the ubiquity of U.S. computer infrastructure in global business. The BSN is trying to challenge that norm.
Read the full article from Lawfare.
More from CNAS
-
Trump Tariffs: How Will U.S. Plans Reshape the Global Economy?
Video
Donald Trump says he's already decided the tariffs he will impose on countries that export goods to America, including the United Kingdom. Channel 4 hears from Emily Kilcrease...
By Emily Kilcrease
-
Edward Fishman on the Age of Economic Warfare
Podcast
In the latest episode of the Sanctions Space Podcast, Justine is joined by Edward Fishman, author of Chokepoints: American Power in the Age of Economic Warfare and an adjunct ...
By Edward Fishman
-
The World Has Changed Since Trump’s First Trade War. Other Countries Are Ready to Fight Back.
Commentary
With so many countries armed and ready, the challenge for Trump will be to use economic weapons to advance U.S. interests without leaving America isolated or ruining the world...
By Edward Fishman
-
Ziemba: China Could Impose Retaliatory Tariffs on U.S.
Video
If tariffs and costs continue to rise, it will not be great for oil demand within the US, that's according to Rachel Ziemba, Adjunct Senior Fellow at the Center for a New Amer...
By Rachel Ziemba
