US Air Force STRATFI awarded SIMBA Chain $30 million

by Feb 1, 2023CryptoNews0 comments

According to SIMBA Chain, the funding would be utilized to build blockchain applications for usage by various government agencies. The United States Air Force has chosen SIMBA Chain, a blockchain solutions vendor, for a $30 million Strategic Technology Focus Initiative (STRATFI) (USAF). The effort aims to discover and develop technologies that will ensure the United States Air Force’s future superiority.

The investment will be used to develop blockchain applications in supply chain management and programs that will be used by several government organizations. Including the Office of the Undersecretary of Defense for Research and Engineering, the USAF, the US Navy, the US Army, and the Defense Logistics Agency, according to the announcement.

SIMBA Chain & Department of Defense

SIMBA Chain has a long history of working with the Department of Defense, developing blockchain applications to improve crucial USAF functions. Such as budget tokenization for improved accounting and monitoring of vital components for the air force branch. The STRATFI effort will hasten the development of SIMBA’s blockchain technology, SIMBA Blocks, which will help the USAF achieve its strategic goals.

The STRATFI project, according to Bryan Ritchie, CEO of SIMBA Chain, is a strong demand signal for blockchain technology and the potential to accelerate commercial adoption. “Given the interdependence of the DoD supply chain,” he says, “it also represents a possibility for collaboration and increased adoption throughout the commercial market.”

The US Air Force is one of many to explore blockchain technology. It was revealed in June that the United States Air Force had hired SIMBA Chain to create a budgeting and accounting system for tracking and monitoring the military’s cash flow and supply chain quality and management.

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Conclusion

The Digital Blockchain Budgeting Accountability and Tracking (DiBaT) aimed to tokenize all monies in the United States Air Force supply chain budget and trace fund flow among billing centers, buying teams, and suppliers.

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