The blockchain solution provider, SIMBA Chain, has been selected for the Strategic Technology Focus Initiative (STRATFI) of USD 30 million by the United States Air Force (USAF). The initiative focuses on identifying and advancing technologies that can ensure the future dominance of the United States Air Force.
According to the announcement, the investment will be used to develop blockchain applications in supply chain management and programs that will be used by various government organizations, including the Office of the Assistant Secretary of Defense for Research and Engineering, the USAF, the US Navy, the US Army, and the Defense Logistics Agency.
SIMBA Chain has a long relationship with the Department of Defense, having developed several blockchain applications to enhance key USAF activities, such as budget tokenization for better accounting and tracking of essential components for the air services branch. The STRATFI initiative will accelerate the development of SIMBA’s blockchain platform, SIMBA Blocks, which supports the strategic mission of the USAF.
Bryan Richie, CEO of SIMBA Chain, sees the STRATFI initiative as a strong demand signal for Blockchain technology and an opportunity to increase its adoption within the trading industry. He said: “Given the interconnectedness of the DoD supply chain, it also signals an opportunity to collaborate and increase adoption within the commercial industry.”
As noted above, this is not the first time the US Air Force has experimented with Blockchain technology. In June 2022, Cointelegraph reported that the US Air Force turned to SIMBA Chain to develop a budgeting and accounting system for tracking and monitoring cash flow, as well as quality and management of the military’s supply chain.
The aim of the project, called Digital Blockchain Budgeting Accountability and Tracking (DiBaT), was to tokenize all US Air Force supply chain budget dollars and track the movement of funds between billing centers, purchasing teams, and vendors.
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