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SIMBA Chain secures $1.5 million Navy contract for blockchain demand sensing

SIMBA Chain, an Indiana-based blockchain technology provider, has been awarded a $1.5 million contract from the US Office of Navy Research to ‘design and build a blockchain solution to enable demand sensing.’

The contract, which falls under the Small Business Innovation Research (SBIR) Phase II branch, will see SIMBA Chain develop a demand sensing solution for the Defense Logistics Agency. Demand sensing is used by the US military to ensure critical replacement parts for weaponry is available when required.

This is not the first contract handed out to the company, whose offering enables organisations to develop and deploy dApps across various blockchain platforms. The SBIR Phase I project, which was awarded in June, involved working with the US Marine Corp to build a use case for blockchain-based prototype monitoring inventory and movement of physical assets at its Georgia depot.

In February, SIMBA Chain was awarded a $9.5m contract by the Naval Air Warfare Center to build a secure blockchain-based messaging and transaction platform.

“Our goal with this pilot program is to use blockchain to dramatically improve vital supply chain interactions between FRCSE (Fleet Readiness Center Southeast) and the Defense Logistics Agency to mitigate against disruption, issues, and threats to engineering and maintenance operations,” said Joel Nedig, SIMBA Chain CEO, in a statement.

“Our hope is it becomes a model across the Navy and other branches of the US military,” Nedig added.

In September, SIMBA Chain joined Hyperledger in the latest tranche of companies to sign up for the organisation.

Photo by IIONA VIRGIN on Unsplash

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The post SIMBA Chain secures $1.5 million Navy contract for blockchain demand sensing appeared first on The Block.

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