SIMBA Chain receives a £1.1M research grant from the US Navy

SIMBA Chain new research grant

Cloud-based smart contract platform SIMBA Chain has received a £1.1 million research grant from the US Office of Navy Research. A press release unveiled this news on January 13, noting that the US Navy selected the project to help improve its supply chain.

Reportedly, this contract is dubbed the Authenticity Ledger for Auditable Military Enclaved Data Access (ALAMEDA) project. This initiative will see SIMBA Chain take on the task of developing a blockchain-based solution that enables demand sensing for key military weaponry parts. Through this move, the US Navy seeks to process important information in real-time to predict demand with precision.

According to the news release, SIMBA Chain’s work will be developing a use case centered on the Boeing F/A-18 Hornet, a jet fighter whose first version was released in the 1980s, and which is a major component of the US Navy to date. Per the publication, SIMBA Chain started working on this task on January 6 at a naval air station in Jacksonville, Florida. The SIMBA Chain team will join forces with the Naval Enterprise Sustainment Technology Team (NESTT) to complete this initiative. 

Commenting on this news, Steve McKee, NESTT’s project lead, said,

“In 2020, the Department of the Navy’s SBIR Program allocated over $30 million to help advance innovations to improve readiness.”

McKee added that this blockchain initiative with SIMBA Chain represents the role of technology in revitalizing military facilities and their systems. According to him, pilot projects like this one foster innovation and positive outcomes in the long run.

A reputable project

Per Joel Neidig, SIMBA Chain’s CEO, the blockchain is well capable of forming the backbone of an effective military chain supply. Neidig believes that the blockchain has features such as irreversibility of transactions, immutability, and the ability to be accurately audited, which make it the best candidate for managing military chain supplies. 

Neidig added that their goal with the pilot program is to leverage the blockchain to enhance key supply chain interactions between FRCSE and the Defense Logistics Agency. In so doing, he believes that they will be able to minimize disruption, issues, and threats to engineering and maintenance operations.

SIMBA Chain’s inception came after four years the Defense Advanced Research Projects Agency (DARPA) awarded a research grant to the Indiana Technology and Manufacturing companies and the University of Notre Dame. Since its launch, the project has reportedly delivered numerous contracts for DARPA, the US Department of Energy, and the US Department of Defense.

The post SIMBA Chain receives a £1.1M research grant from the US Navy appeared first on Invezz.

Publication date: 
01/14/2021 - 17:27

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