After securing a $1.5million contract with the US Air Force (USAF) in 2020, and a number of expansions in 2021, the blockchain-as-a-service agency SIMBA Chain has been awarded a seventh contract with the air service department. The new deal duties SIMBA Chain with the creation of a blockchain-based system for monitoring and monitoring the USAF’s motion of funds and provide chain high quality and administration.
Named Digital Blockchain Budgeting Accountability and Tracking (DiBaT), the venture entails the tokenisation of each greenback inside USAF’s provide chain finances and the recording of fund motion throughout billing facilities, buying departments, and suppliers.
DiBaT leverages SIMBA Blocks’ customized multi-chain blockchain platform to maintain monitor of and audit funds in a protected, zero-trust, tamper-proof blockchain, enabling USAF administration to see the place cash is getting used and how it’s presently positioned throughout the allocation and fee system. Additionally, it would improve provide chain visibility to reveal readiness and enhance visibility and transparency within the supplies being acquired.
“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. ” says Jeff Curtis, director of protection and provide chain at SIMBA Chain.
Besides rising belief and offering audit-like mapping of {dollars} by way of tokenised spending, SIMBA Chain’s resolution will 1) quickly decide if elements are coming from or being made in China in an earthquake zone, 2) establish if a provider not manufactures a component, 3) detect if elements are coming from an space the place human capital is being exploited, and 4) establish potential high-risk provides.
This will allow portfolio-based administration of DoD acquisition packages, improve digital budgets to incorporate real-time monitoring of precise prices, and set up Free Cash Flow incentives whereas documenting financial savings by permitting commanders or departments to make use of a portion for rapid priorities, amongst different advantages.
SIMBA Chain stands out in fixing market imperfections round provide chain and monetary administration. The agency’s seventh engagement with USAF below the Small Business Innovation Research (SBIR) initiative accentuates its place because the “go-to” platform for the US Department of Defense in blockchain-related issues.
Francis Bignell
