Saturday, October 23, 2021
Home Crypto News Market SIMBA Chain Got A $1.5 Million Contract From The U.S. Office Of...

SIMBA Chain Got A $1.5 Million Contract From The U.S. Office Of Naval Research To Develop Blockchain-Based Solution For Critical Military Weaponry Parts

- Advertisement -

SIMBA Chain, a blockchain-based company, has been received a contract of $1.5 million to create a system for predicting demand for critical parts of military equipment from the US Navy.

Read: Another Cryptocurrency Exchange Backed XRP: “We Will Continue Listing XRP”

The Office of Naval Research of the United States has signed a contract for $1.5 million to create a system on the blockchain, which will help ensure uninterrupted supply of military equipment’s.

Read: Reasons Behind Polkadot (DOT) Price Making New Highs

SIMBA Chain said it was awarded a contract to implement the second phase of the Small Business Innovation Research Program (SBIR) to create a demand-sensing system that would anticipate the need for “critical” parts of military equipment.

The blockchain solution will be created for the US Department of Defense Logistics Agency that aims to reduce disruption problems and threats to design and maintenance operations.

Read: Declining Ethereum Reserves On Exchanges-You Know What Happen Next?

The contract for the development of the ALAMEDA project began on January 6. The project will be implemented at the Fleet Training Center at the Naval Air Station in Jacksonville. SIMBA will also continue to work on the first phase of the project to develop a blockchain for tracking supply chains.

“Blockchain is well suited to solving complex problems of the supply chain, as it provides a decentralized mechanism for recording irreversible transactions, making data immutable, verifiable and protected from unauthorized access after recording,” said Joel Neidig, CEO of SIMBA Chain.

Recall that SINBA Chain began work on the ALAMEDA project in May last year after signing a contract with the US Department of Defense.

Read Story on Global News Wire:

- Advertisement -
Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

The Bank Of Israel Aims To Launch Its CBDC On Ethereum

For now, central banks around the world are still working on developing and testing their own CBDCs, but there are new ones that are...

Russian Central Bank Head Says Russia Is Not Ready To Launch Crypto ETFs

The head of the Bank of Russia, Elvira Nabiullina gave a negative answer to the question about the possibility of trading cryptocurrency ETFs in...

Spanish Banks Anxiously Waiting For Central Bank Approval To Work With Cryptocurrencies

Spanish banks are interested in providing cryptocurrency services directly to clients and expect the Spanish Central Bank will bring regulatory clarity for crypto.

Reddit Intend To Bring Its Non Fungible Token (NFT) Platform

Reddit is looking to hire people for what could become a new platform for non-fungible tokens (NFTs) and digital goods. ...

Second Bitcoin ETF, Valkyrie Bitcoin Strategy ETF (BTF) Started Trading On Nasdaq

On the Nasdaq Stock Exchange under the ticker BTF, a Bitcoin futures ETF from Valkyrie Investments began trading at a price of $25.5.

Transient Raises $1.2 Million in IDO Public Sale to Build the Amazon of Smart Contracts

Tortola, British Virgin Islands, 22nd October, 2021, Transient Network, a Smart Contract Global Marketplace, is thrilled to announce that it has raised $1.2 million...

Binance Smart Chain Is Bringing Fee-Burning Mechanism Like Ethereum

The Binance Smart Chain (BSC) has published a proposal to improve the BEP-95 ecosystem, This new mechanism will be similar to the Ethereum chain...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.