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US Navy Commissions $1.5M Blockchain System for Tracking Critical Weaponry
Blockchain firm SIMBA Chain won a contract to build a system to anticipate demand for "critical" military weaponry parts.
The U.S. Office of Navy Research has awarded a $1.5 million contract for a blockchain system to help ensure the supply of military weaponry.
STORY CONTINUES BELOW
- Indiana-based blockchain firm SIMBA Chain announced Wednesday it was awarded the Small Business Innovation Research (SBIR) phase II contract to build a demand sensing system that would anticipate the need for "critical" military weaponry parts.
- The blockchain solution will be built for the Defense Logistics Agency, the combat support agency in the U.S. Department of Defense, and is aimed at reducing disruption issues and threats to engineering and maintenance operations.
- The contract for the ALAMEDA Project (for Authenticity Ledger for Auditable Military Enclaved Data Access) commenced on Jan. 6 and will be conducted at the Fleet Readiness Center Southeast at the Naval Air Station in Jacksonville, Fla.
- SIMBA will also continue work on a phase 1 project at the airbase, focusing on the Boeing F/A-18 Hornet supply chain.
- “Blockchain is well suited to solve complex supply chain pain points as it enables a decentralized mechanism for the recording of non-repudiable transactions, making data both immutable and auditable, and lastly, tamper-proof once written," said SIMBA Chain CEO Joel Neidig.
Read more: US Navy Launches Blockchain Research in Mission to Improve Tracking System
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
