US airforce taps SIMBA chain for budgeting and accounting system
DiBaT aims to tokenise all money inside the USAF supply chain budget and trace fund flow throughout billing centres, purchasing teams, and suppliers
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Blockchain startup SIMBA announced an SBIR contract (Small Business Innovation Research) with the USAF (US Airforce). This is their seventh contract and comprises tokenising the USAF supply chain budget to track the transfer of monies between departments and vendors while also keeping an eye on potential supply concerns.
In the project, called Digital Blockchain Budgeting Accountability and Tracking (DiBaT), each dollar in the US Air Force's supply chain budget is tokenised and the flow of funds between billing centres, purchasing divisions, and suppliers is tracked. The objective is to speed up the process of comparing budgeted plans to the actual expenditure by adding blockchain.
DiBaT will use SIMBA blocks to track and audit cash in a secure, zero-trust, tamper-proof blockchain, allowing USAF management to see where money is being used and where it is currently positioned within the allocation and payment system.
Joel Neidig, co-founder and president of SIMBA, while in conversation with Cointelegraph talked about how both the organisation and the USAF believe that the project will improve transparency and efficiency while also assisting them in calculating the return on investment from things they routinely procure.
He said, "We have been working with the Air Force for the past 4 years on various implementations, we are excited to move out of the pilot and proof of concept phases to more production environments. The Air Force is definitely the leader in blockchain adoption for DoD."
