US Air Force Invests $30M in Blockchain Technology Through SIMBA Chain

The funding has been made by the US Air Force (USAF) through its STRATFI initiative. It reflects a significant increase compared to previous blockchain initiatives.

It’s also reported that the investment will focus on the development and deployment of blockchain applications in supply chain management for the US Army.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is a Smart Contract? (Explained with Animations)

SUBSCRIBE

ON YOUTUBE

The official release notes that USAF STRATFI's goal is to identify and advance technologies that have the potential to secure its future dominance. The $30 million investment demonstrates the growing demand for blockchain technology within the military, per the report.

It's also reported that a new project with SIMBA Chain will pave the way for 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 management of assets within the Department of Defense supply chain. SIMBA is thrilled to build upon our existing partnership with the DoD to scale blockchain technology across the enterprise.

However, this was not the first time SIMBA Chain has partnered with governmental institutions. Previously, the blockchain solution provider developed various blockchain applications for the USAF, including tokenizing the organization's budget to enhance accounting.

The STRATFI investment will significantly accelerate the development of the SIMBA Blocks platform, according to the report.

Aaron S., Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

Full Bio

All Expert Contributors & Analysts