The investment will fund the development and deployment of applications in supply chain management, with the support of the Office of the Undersecretary of Defense Research Engineering, the U.S. Navy, the U.S. Army and the Defense Logistics Agency, as well as the U.S. Air Force.
The USAF's new project will improve the efficiency and comprehensive management of assets within the Department of Defense supply chain, as a result of an increase in budget compared to previous blockchain initiatives.
SIMBA is happy to add a partnership with the DoD to scale blockchain technology across the enterprise. SIMBA Chain has developed various applications to improve USAF activities, such as the tokenization of the organization's budget to improve accounting and the tracking of critical components vital to the air service branch.
The development of the SIMBA Blocks platform will be accelerated by the new STRATFI investment, as it will lead to in-transit visibility that supports the strategic mission of the USAF.
Bryan Ritchie, CEO of SIMBA Chain, said that through STRATFI our government partners are sending a strong demand for a digital ledger technology. There is an opportunity to collaborate and increase adoption within the commercial industry because of the interconnectedness of the DoD supply chain.