Blockchain solutions provider SIMBA Chain has been selected for a $30 million Strategic Technology Focus Initiative (STRATFI) by the United States Air Force (USAF), reports Cointelegraph. The initiative is focused on identifying and advancing technologies that could secure the future dominance of the USAF.
According to an announcement, the investment will be used to develop blockchain applications in supply chain management and programmes that will be used by several government organisations, including the Office of the Undersecretary of Defence for Research & Engineering, the USAF, the US Navy, the US Army and the Defence Logistics Agency.
SIMBA Chain has a long-standing relationship with the Department of Defence, having developed various blockchain applications to improve critical USAF activities, such as budget tokenisation 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.
This is not the first time the USAF has experimented with blockchain technology. In June 2022, Cointelegraph reported that the USAF had 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.