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The Pros And Cons Of Cryptocurrency

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As technology continues to advance, the United States must accept the concept of digital globalization as it develops national security policies designed to bolster homeland security. It is also important for policy makers to understand the fluidity of terrorism. While their motives may not change, the tactics used by terrorists are ever evolving, so to must the government’s ability to identify, track and eliminate threats. Prior to the 9/11 attacks, the US lacked preparedness for that type of attack carried out that morning. Since then, the federal government took steps to protect against future, similar attacks. Some of these measures included the creation of the Transportation Security Administration, the arming of airline pilots and …show more content…
Cryptocurrency is defined as, “a digital or virtual currency designed to work as a medium of exchange” ("What is Cryptocurrency: A Guide for Beginners," 2017, para. 1). Unlike traditional paper currency and precious metals, cryptocurrency does not physically exist, but instead, exists only in virtual digital form. It uses sophisticated digital cryptography, making it virtually impossible to track who is sending or receiving this form of digital currency. Why does this type of financial system exist? Digital currency, such as Bitcoin, is gaining momentum among legitimate customers for several reasons. One reason is that it is touted as more secure as it cannot be counterfeited. Another attractive feature for some is that cryptocurrency removes banking institutions from the transaction process; therefore, no banking fees …show more content…
In the minds of most ordinary citizens, drug trafficking is not typically associated with terror groups; however, it has long been a profitable way to fund the activities of terror networks. With the presence of Islamic terror groups in Afghanistan and Pakistan, the availability to the poppy plant is plentiful and readily available making it an optimal source of revenue. As Clarke and Newman note, “Many terror groups carry out ordinary crimes such as bank robbery, drug trafficking, identity theft and money laundering to support their terrorist activities” (Clarke & Newman, 2010, Chapter 2). With the availability of the poppy plant, terror groups are able to manufacture opiates, such as heroin, and import those drugs into the United States and Europe. On the surface, drug trafficking can be extremely profitable financially for a terror organization. The money raised from drug sales can be spent to spread the group’s ideology, as well as fund attacks against anyone they deem a threat. With the addiction that comes from heroin use, it is almost a guaranteed constant sustained supply of incoming cash for the group. However, the threat that drug trafficking poses to our nation’s homeland security runs much deeper than just financial funding for

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