The US Air Force has awarded SIMBA Chain a $30-million contract to develop and employ blockchain solutions for the service’s supply chain management.
Blockchain is a platform that works as a digital ledger for storing transactions and related information across a network.
The applications SIMBA will deliver are expected to benefit the US Air Force, Army, Navy, Defense Logistics Agency, and the Undersecretary of Defense for Research & Engineering.
“Our new project for the USAF will pave the way to more efficient and comprehensive management of assets within the Department of Defense supply chain,” SIMBA Chain Government Operations Vice President Stacy Betlej-Amodeo stated.
“SIMBA is thrilled to build upon our existing partnership with the DoD to scale blockchain technology across the enterprise.”
The company has delivered previous blockchain solutions to the air force, including air service branch component trackers and budget accounting systems.
STRATFI Program on Blockchain Solutions
The agreement was awarded under the US Air Force’s Strategic Funding Increase (STRATFI) program, which allocates investments for technologies to enhance the service’s operability.
According to SIMBA, the STRATFI approach will expedite the new blockchain system’s development to support the air force’s strategic mission.
“Through STRATFI our Government partners are sending a strong demand signal for blockchain technology,” SIMBA Chain CEO Bryan Ritchie said.
“Given the interconnectedness of the DoD supply chain, it also signals an opportunity to collaborate and increase adoption within the commercial industry,” Ritchie added.