Indiana-based blockchain solutions provider SIMBA Chain has been selected for a $30 million Strategic Investment.
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.
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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.