Reading Time
~ 2 minutes
Spread the Word

The distributed protocol that stores the “world’s data on a decentralized system” Factom received a grant of $ 192,380 to secure the beta testing within the U.S. Border Patrol project.

The announcement was made on Friday by the U.S. Department of Homeland Security (DHS). “The early phases of Factom’s work has informed architecture choices and design decisions inherent in integrating blockchain with existing technologies,” stated Anil John, Identity Management Research and Development Program Manager at the DHS.

“In Phase IV, Factom will deploy this technology in a realistic field environment with Customs and Border Protection (CBP) to understand its operational impacts,” he added.

Factom has to take care of recorded data

The Texas-based blockchain project Factom will take care the data recorded by sensors and cameras on a blockchain protocol are secured and ensure that they aren’t manipulated, according to DHS‘s press release.

The resulting product will be subjected to non-standard testing

Factom has the responsibility to develop the requested technology. The resulting product will be tested under non-standard conditions, such as unfavorable weather and poor internet connection. The purpose of the testing is to sensitize product performance and to improve some aspects if necessary.

The U.S. Department of Homeland Security offers grants worth $ 800,000 per company

The $ 192,380 funding is the fourth tranche of the grant received from the U.S. Department of Homeland Security (DHS). The project consisting of beta securing of data reported by Border Patrol cameras and sensors is part of the DHS’ Silicon Valley Innovation Program. It offers businesses the opportunity to benefit from an $ 800,000 grant over a 24-month timeline.

At the moment, 23 companies benefit from DHS funding, aiming to develop new tech solutions, such as “the internet of things, unmanned aircraft systems, cybersecurity solutions for financial services, global travel assessment systems, airport passenger handling and wearable technologies.”

The Factom piece is more along the line of: these devices exist, but how do we build a picture of the identity of this device over time? The blockchain could be the catalyst that allow us to document the changes,” the Identity Management Research and Development Program Manager at the DHS explained.

Factom is known for its involvement in funding projects. Over the last three years, the platform has managed to receive a $ 1.6 million grant in 2015, $ 4.2 million in October 2016, and more than $ 8 million in April 2017.

Read more articles related to this subject:
Notice: The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.