Grant Offered to Factom by the DHS

Grant Offered to Factom by the DHS

In a bid to safeguard information from Border Patrol cameras and sensors, the U.S. Department of Homeland Security (DHS) has awarded a grant of $192,380 to blockchain project Factom to assist the beta testing of the platform.

The Identity Management Research and Development Program Manager at the DHS Science and Technology Directorate, Anil John said in a press release that, “The first stages of Factom’s work has informed architecture options and design decisions inherent in combining blockchain with current technologies.”

“Factom, in phase IV, will set-up this technology in a practical field environment alongside Customs and Border Protection (CBP) so as to comprehend its operational influence.”

According to the press release, the startup, which is based in Texas is working on a technology that blends with information obtained by the sensors and cameras onto a blockchain, therefore securing the information and getting rid of the opportunity to spoof, interrupt or alter it. Tests are going to be carried out on Factom’s product in an environment with restricted internet connectivity and changing weather conditions to evaluate its performance in a live Border Patrol Scenario.

The funding is the fourth tranche of a grant offered to Factom by the DHS during the course of its Silicon Valley Innovation Program, which enables tech firms to submit an application for $800,000 in funds over a 1 year period.

With support from DHS’s grants, there are, at the moment, 23 firms, including Factom, in the process of developing their solutions, utilizing technologies like the internet of things, cybersecurity solutions for financial services unmanned aircraft systems, wearable technologies, and global travel assessment systems.

Reports from CoinDesk states that Factom received $200,000 from the DHS in 2016 to start the development of the present-day project.

“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 after a while? The blockchain can be the catalyst that permits us to record the changes,” John explained.

A good number of productive fundraising efforts were made by Factom in the last three years, raising $1.1 million in a crowdsale in 2015 and later that same year $400,000 in seed funding.

What should you know about Factom?

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