Blockchain provider SIMBA Chain awarded $30M by US Air Force STRATFI program – Crypto News – Crypto News
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Blockchain provider SIMBA Chain awarded $30M by US Air Force STRATFI program Blockchain provider SIMBA Chain awarded $30M by US Air Force STRATFI program

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Blockchain provider SIMBA Chain awarded $30M by US Air Force STRATFI program – Crypto News

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Blockchain solutions provider SIMBA Chain has been selected for a $30 million Strategic Technology Focus Initiative (STRATFI) by the United States Air Force (USAF), The initiative is focused on identifying and advancing technologies that could secure the future dominance of the US 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 several government organizations, including the Office of the Undersecretary of Defense for Research & Engineering, the USAF, the US Navy, the US Army and the Defense Logistics Agency.

SIMBA Chain has a long-standing relationship with the Department of Defense, having developed various blockchain applications to improve critical USAF activities, such as budget tokenization for better accounting and tracking of essential components for the air service branch. The STRATFI initiative will accelerate the development of SIMBA’s blockchain platform, SIMBA Blocks, which supports the USAF’s strategic mission.

Bryan Ritchie, CEO of SIMBA Chain, views the STRATFI initiative as a strong demand signal for blockchain technology and an opportunity to increase adoption within the commercial 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.”

Related: US Air Force files trademark application for ‘SpaceVerse’ initiative

As previously noted, 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 tapped SIMBA Chain to develop a budgeting and accounting system for tracking and monitoring the military’s cash flow and supply chain quality and management.

The goal of the project, dubbed Digital Blockchain Budgeting Accountability and Tracking (DiBaT), was to tokenize all dollars within the US Air Force supply chain budget and track fund movement across billing centers, purchasing teams and suppliers.