The United States Air Force (USAF) is now using blockchain technology through SIMBA Chain in its budgeting and accounting processes.
The US Air Force has enlisted SIMBA Chain, a blockchain-as-a-service platform, to construct a blockchain-based system for tracking and monitoring the military’s cash flow and supply chain quality and management, according to a press statement issued on Thursday.
The project’s purpose is to tokenize all monies in the USAF supply chain budget and trace fund flow throughout billing centers, purchasing teams, and vendors.
According to the press announcement, DiBaT employs SIMBA Blocks to track and audit funds in a secure, zero-trust, tamper-proof blockchain, allowing USAF management to see where money is being spent and where it is now positioned within the allocation and payment system. It will also improve the visibility and transparency of the commodities purchased in the supply chain.
The US military branches are the Marines, Coast Guard, Army, Navy, Air Force, and Space Force. Half of these branches have already stated that they want to use blockchain technology or other digital assets.
In 2019, the US Air Force chose SIMBA Chain to assist protect its supply chain, and it also teamed with Constellation, a blockchain big data management business.
In November, the US Navy awarded Consensus Networks a $1.5 million contract to develop HealthNet, a blockchain-based logistics system. Last year, Space Force said that NFT versions of patches and coins would be released expressly for the launch of one of its spacecraft.