After protecting a $1.5million contract with the United States Air Force (USAF) in 2020, and a number of growths in 2021, the blockchain-as-a-service company SIMBA Chain has actually been granted a seventh contract with the air service branch. The brand-new offer jobs SIMBA Chain with the development of a blockchain-based system for tracking and keeping track of the USAF’s motion of funds and supply chain quality and management.
Named Digital Blockchain Budgeting Accountability and Tracking (DiBaT), the project includes the tokenisation of every dollar within USAF’s supply chain budget plan and the recording of fund motion throughout billing centers, acquiring departments, and providers.
DiBaT leverages SIMBA Blocks’ customized multi-chain blockchain platform to keep an eye on and audit funds in a safe, zero-trust, tamper-proof blockchain, making it possible for USAF management to see where cash is being utilized and how it is currently placed within the allotment and payment system. Additionally, it will boost supply chain presence to show preparedness and boost presence and openness in the products being obtained.
“DOD’s budgeting process can create mismatched incentives for military departments and their field commands, leading to less efficient execution of strategic goals. DiBaT will bring greater transparency to actual expenditure of resources, identifying execution vs intent mismatches. Even better, it will not alter any current budget flexibility. ” states Jeff Curtis, director of defense and supply chain at SIMBA Chain.
Besides increasing trust and supplying audit-like mapping of dollars by means of tokenised costs, SIMBA Chain’s service will 1) quickly figure out if parts are originating from or being made in China in an earthquake zone, 2) determine if a provider no longer makes a part, 3) identify if parts are originating from a location where human capital is being made use of, and 4) determine possible high-risk materials.
This will allow portfolio-based management of DoD acquisition programs, boost digital budget plans to consist of real-time tracking of real expenses, and develop Free Cash Flow rewards while recording cost savings by enabling leaders or departments to utilize a part for instant top priorities, to name a few advantages.
SIMBA Chain stands apart in fixing market flaws around supply chain and monetary management. The company’s seventh engagement with USAF under the Small Business Innovation Research (SBIR) effort emphasizes its position as the “go-to” platform for the United States Department of Defense in blockchain-related matters.