U.S. Department of Homeland Security …

U.S. Department of Homeland Security …

US Department of Homeland Security Provides Grant to Cryptocurrency Project Factom

The U.S. Department of Homeland Security (DHS) has awarded a grant of $ 192,380 to the Factom blockchain project to support beta testing of a platform designed to secure the data collected by cameras and sensors of border guards, CoinDesk writes..

“The early phases of Factom’s work determined the architecture choices and design decisions associated with blockchain integration into existing technologies,” said Anil John, manager of the Identity Management Research and Development Program at DHS Science and Technology Directorate. “During the fourth phase, Factom will launch its technology in realistic field conditions in collaboration with the Bureau of Customs and Border Protection to better understand its operational impact.”.

Texas-based startup Factom is working on technology that allows data from cameras and sensors to be integrated into the blockchain, ensure their security and exclude the possibility of tampering or alteration, according to the DHS publication. Factom will be tested on a platform with limited internet access and changeable conditions, allowing it to be tested in a variety of scenarios as determined by border agencies.

Currently, 23 companies, including Factom, are developing solutions for DHS using funding from the grant program, including unmanned aerial systems, IoT and cybersecurity products for financial services, airport passenger systems and wearable technologies..

U.S. Department of Homeland Security ...

In 2016, Factom received $ 200,000 from DHS to begin developing an ongoing project. “Factom’s solution stands out from the competition: such devices already exist, but how are we going to maintain the overall picture over time? Blockchain can be a catalyst that will help us document changes, ”explained John.

Throughout its history, Factom has conducted several successful fundraising campaigns. In 2015, the project raised $ 1.1 million and $ 400,000 in seed funding. In October 2016, he received another $ 4.2 million, and in April last year – $ 8 million.

U.S. Department of Homeland Security ...
U.S. Department of Homeland Security ...

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