Over the past few years, cryptocurrency companies have made strides not just in their ecosystem but also in the traditional market. This industry-wide recognition has enhanced growth on both sides of the grass as more and more collaborations become a daily reality.
SIMBA Chain announced in the latest victory for the field of blockchain and cryptocurrencies that it has been granted a contract to build a blockchain-based program for the United States Department of Defence. SIMBA Chain will build resources that almost 40 percent of all federal research and development appropriations will use.
The branching-out of the US Department of Justice news was certainly a positive sign for the emerging blockchain industry. SIMBA Chain has secured a contract worth $0.2 million for Phase 1 Small Business Innovation Research [SIBR]. The organization will be tasked with developing a single proof-of-concept system to improve documentation processes within the department.
The Authenticity Ledger for Auditable Military Enclaved Data Access [ALAMEDA] of SIMBA will be released on June 1 with a run-time until the end of September. SIMBA Chain Chief Executive Officer [CEO] Joel Neidig said in an official report:
“The DOD, defense contractors, and enterprise level businesses have benefited from mobile devices and how easy it has become to access and exchange date. However, the enhanced flow of information represents a significant security risk. Hence the need for sophisticated blockchain solutions that authenticate and document users, eliminate third party bad actors, and otherwise allow secure direct connections between trusted sources”
Neidig stated that due to the large data repositories it handles it was necessary for the DoD to have fast access. This data was relevant to national security and global science and technology leadership. The key focus of ALAMEDA is to create a single system for the efficient sharing of R&D documents through the now popular Distributed Ledger Technology [DLT].
Transferring sensitive data using DLT will help in maintaining the authenticity of the data as well as the encryption. SIMBA stated that the first step is to create a base foundation for the DoD that can be used to build upon later. To do this, SIMBA Chain has to create access controls for the department’s data which can be accessed only be verified personnel. Since the DoD is expected to act quickly, ALAMEDA’s core feature also includes document delivery verifications and rapid search technologies.
The DoD, on their part, has made rapid technological advances. Reports have shown that the department under Trump underwent a massive overhaul after which certain updates were made. Managing the rapid data flow is expected to be in the field of SIMBA Chain, as the business was known for better traceability, monitoring and identification. The company was also in the news when it signed contracts with agencies including the US Energy Department and DARPA.