The Royal Jordanian National Defense College organized a symposium entitled "Cryptocurrencies and their impact on Jordan's national security"

3/1/2022

On Tuesday, the Royal Jordanian National Defense College organized a symposium entitled "Cryptocurrencies and their impact on Jordan's national security", for scholars in the 19th National Defense Course, in the presence of the college's commander, Brigadier General Staff Dr. Awad Al-Tarawneh, and the head and members of the college's directing staff. The symposium aimed to learn about cryptocurrencies and their impact on Jordanian national security, their characteristics, advantages and risks, and to know what they are, whether they are currencies or assets, and the Central Bank’s position on them, in addition to discussing the issue of money laundering and terrorist financing. The Director of the Criminal Investigation Department, Colonel Haider Al-Shaboul, who discussed the issue of cryptocurrencies, money laundering and terrorist financing, said that the Criminal Investigation Department - the Cybercrime Combating Unit, dealt with a number of complaints related to electronic attacks and the (ransom) virus, where the data in some private institutions or companies is encrypted. and then request a sum of money to be paid through the bitcoin currency to decrypt the information and data present. Colonel Al-Shaboul indicated that the Criminal Investigation Department has raised awareness of the local community about the dangers of the virus and how to protect electronic devices from falling victim to the ransom virus, as the source of the hack was known and the destination of the (electronic) money was not determined. The economic and financial expert, Dr. Adli Qandah, who discussed the issue of cryptocurrencies and their impact on the Jordanian economy, indicated that cryptocurrencies are the main umbrella that includes all forms of other currencies, whether electronic, virtual, digital, legal, stable or encrypted, regardless of other names that can be called them. The official nature of these currencies remains that they are available in digital form and do not have a physical (physical) presence, although they have some characteristics similar to physical legal currencies. The director of economic sciences at the National Defense College, Dr. Radi Al-Adayleh, who discussed the topic of the concept of cryptocurrencies and their most important characteristics, risks, advantages, flexibility and universality, explained their impact on national security, noting that encrypted digital currencies are currencies that are not ready to be obtained, and are not linked to banks, such as “Bitcoin” and Ethereum. and other cryptocurrencies. At the end of the symposium, an extensive discussion took place, during which the participants answered questions and inquiries from the audience.