According to a press release thursday, the USAF used SIMBA Chain, a blockchain platform, as a service to develop a blockchain-based system to track and monitor military cash flow as well as quality and supply chain management. The goal of the project, dubbed Budget Tracking and Accountability in Digital Blockchain (DiBaT), is to encrypt all dollars in the USAF's supply chain budget, as well as track and monitor funds across payment centers, purchasing teams, and suppliers.
DiBaT, according to the release, uses the SIMBA Chain to track and audit money in a secure, secure, anti-tampering blockchain and allow USAF management to see where the money is being used and how it is currently positioned in the allocation and payment system. It will also increase the visibility of the supply chain and the transparency of all invoices as well as purchases made.
Speaking to Cointelegraph, Joel Neidig, co-founder and president of SIMBA Chain, said that the company and the U.S. Air Force anticipate the project will have a beneficial effect on transparency and efficiency, while assisting them in determining the return on investment from items frequently obtained.
"We've been working with the Air Force for the last four years on a variety of projects, and we're excited to move from ideas and testing phases to more stages into production. The Air Force is definitely the leader in applying blockchain to the DoD."
The U.S. Army is made up of six branches: the Marine Corps, Coast Guard, Army, Navy, Air Force, and Space Force. Half of these affiliates have previously announced major plans to use blockchain technology or other forms of digital assets.
In 2019, the USAF selected SIMBA Chain to help secure its supply chain and also partnered with blockchain big data management startup Constellation.The U.S. Navy awarded Consensus Networks a $1.5 million contract in November to create a blockchain-based logistics system called HealthNet.Last year, Space Force said it would release patch versions of NFT and coins designed specifically for the launch of one of its spacecraft.
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