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The Evolution of Money: Blockchain Security

with Cathy Mulligan, PhD & Rep. Darren Soto (D-Fla.)

Industry experts discuss the societal impact of blockchain technology and the security standards needed (Video: The Washington Post)

Recent headlines about blockchain – from combatting election fraud here to the Ukrainian government legalizing cryptocurrencies amid Russia’s attack – are raising questions about whether this is a critical tipping point for crypto and blockchain security. Join Washington Post Live on Tuesday, April 5 for a series of conversations that look at the societal impact of blockchain technology and the security standards needed to keep pace with increased interest and investments in cryptocurrencies.

Click here for transcript

Highlights

“We need transparency between the federal government and major infrastructure whether it’s financial or otherwise so that we know when hacks happen. The beauty of cryptocurrency though, is that it can be tracked like it was in the Colonial Pipeline incident…The very fixed nature of it gives it a unique secure aspect but it’s still technology. We’re still learning parts of it, so that’s where agencies need to have the rules of the road and then be nimble enough to be able to respond to new situations.”- Rep. Darren Soto (D-Fla.) (Video: Washington Post Live)
“In Washington it takes a lot of input from a lot of folks. I introduced two bills…in 2018 and it took a while because we need agency feedback…We’re literally talking defining a new digital asset. Cryptocurrency, which can be a currency, it could be a security, it could be a commodity or even a future. And we haven’t done a lot of redefining of assets in a long time so it’s a big deal.”- Rep. Darren Soto (D-Fla.) (Video: Washington Post Live)
“It’s about providing a proper service as much as it is about creating confidence…I think there could be a really good set of services built by someone…where you would run tests of the smart contracts because currently, I think there have sort of been tests to see if things work, but they’re being tested for the security. So, I think those are some if the things that the community should be actively working on and developing together, to ensure safety and security for their customers.”- Cathy Mulligan (Video: Washington Post Live)
“I think what’s going to happen in some instances is it’s going to be a lot like a database technology…Some if the cryptocurrencies and some of the blockchain activities will end up in that space. They’ll sort of sink into the background and you’ll trust that it’s running as it should. Other things are going to be much more transformative and much more disruptive.”- Cathy Mulligan (Video: Washington Post Live)
“I think it’s a very soul-destroying use case but it’s a fantastic example of what cryptocurrency can actually achieve. We’ve seen in the Ukraine that over $55 million in cryptocurrency has pretty much been raised very, very quickly and put to use by the Ukrainian government…So, I think it shows the massive potential…I think that not just cryptocurrency, but digital technologies in general we now have the computational capacity. It’s no longer just limited to governments and limited to corporations it’s now in the hands of the average everyday person.”- Cathy Mulligan (Video: Washington Post Live)

Cathy Mulligan, PhD

European Research Area Chair in Blockchain, University of Lisbon


Rep. Darren Soto (D-Fla.)

Co-Chair, Congressional Blockchain Caucus


Content from Binance

The following content is produced and paid for by a Washington Post Live event sponsor. The Washington Post newsroom is not involved in the production of this content.

(Video: Washington Post Live)

Securing the Crypto Ecosystem

As digital currencies increase in popularity, so too does the necessity to ensure protections for the crypto ecosystem and its users. In a segment presented by Binance, the world’s largest cryptocurrency exchange, CEO “CZ” (Changpeng Zhao) discusses why regulation is essential to boost consumer confidence, ensuring crypto’s continued growth and mainstream adoption. This robust conversation will dive into the importance of cryptocurrency compliance and how Binance is working with regulators and policymakers to support a global framework that protects crypto users without limiting the potential growth and innovation of the sector.

Changpeng Zhao

Founder & CEO, Binance


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