US-based enterprise blockchain solutions provider Simple Blockchain Applications (SIMBA Chain) has been selected to receive $30m under a US Air Force’s (USAF) programme.
The funding has been provided as part of the USAF’s Strategic Technology Focus Initiative (STRATFI).
The STRATFI programme aims to identify and support different companies to mature potential technologies that can be deployed for providing future dominance.
For SIMBA Chain, this $30m investment will provide a significant budget increase to support the development and deployment of blockchain applications for supply chain management.
Such programmes are further used by the USAF, Army and Navy, the Defense Logistics Agency, as well as the Office of the Undersecretary of Defense.
The latest award builds on the successful implementation of previous projects that the company has completed in recent years for different military branches across the US Department of Defense (DoD).
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SIMBA Chain Government Operations vice-president Stacy Betlej-Amodeo said: “Our new project for the USAF will pave the way to more efficient and comprehensive management of assets within the US DoD supply chain.”
Before receiving this award, SIMBA Chain developed different blockchain applications to enhance the USAF’s crucial activities, such as tracking critical components that are vital for the air service branch and tokenisation of the service’s budget to improve the accounting system.
With STRATFI funding, the company will work to expedite the development of the SIMBA Blocks platform to provide in-transit visibility in support of the USAF’s strategic missions.
SIMBA Chain opportunity CEO Bryan Ritchie said: “Through STRATFI, our government partners are sending a strong demand signal for blockchain technology.
“Given the interconnectedness of the US DoD supply chain, it also signals an opportunity to collaborate and increase adoption within the commercial industry.”