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Indiana-based blockchain solutions provider SIMBA Chain has been selected for a $30 million Strategic Investment.
Funding has been done by the US Air Force (USAF) through its STRATFI initiative. This represents a significant improvement compared to previous blockchain initiatives.
It was also reported investment will focus on development and deployment of blockchain applications in supply chain management for the US Army.
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The official release notes that the purpose of the USAF STRATFI is to identify and advance technologies that have the potential to secure their future dominance. That $30 million investment indicates a growing demand for blockchain technology within the military, according to the report.
It is also reported that a new project with SIMBA Chain will pave the way more efficient and comprehensive asset management. Stacy Betlej-Amodeo, Vice President of Government Operations at SIMBA Chain, stated:
Our new project for the USAF will pave the way to more efficient and comprehensive asset management within the Department of Defense supply chain. SIMBA is excited to build on our existing partnership with DoD to scale blockchain technology across the enterprise.
However, this is not the first time SIMBA Chain has been involved with government agencies. Previously, blockchain solutions providers developed various blockchain applications for the USAF, incl tokenizing organizational budgets to improve accounting.
STRATFI’s investment will significantly accelerate the development of the SIMBA Block platform, according to the report.
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