Austin, Texas-based Factom, Inc. has secured $197,292 in funding from the Department of Homeland Security (DHS) Science and Technology Directorate (S&T) to enhance blockchain security system development.
DHS officials said they envision agencies using the technology to create and verify identities while detecting fraud involving imports, such as raw materials.
“Data-centric blockchains that can work with any type of data are useful in enterprise contexts such as those of U.S. Customs and Border Protection for understanding the origin of raw material imports,” Anil John, S&T’s Silicon Valley Innovation Program (SVIP) technical director, said. “Factom is addressing this business and technical problem in a manner that supports global interoperability by adapting their existing Harmony products to support emerging World Wide Web Consortium global standards such as decentralized identifiers and verifiable credentials.”
Factom is proposing a platform enabling organizations to manage certificates and licenses associated with tracking raw material imports via an open system, ensuring the provenance of issued credentials.
The approach would provide mechanisms ensuring any relevant business constraints are not violated, allowing for the selective disclosure of process-relevant information and improving auditability, accountability, transparency, and efficiency.
SVIP is one of S&T’s programs and tools to fund innovation and work with private sector partners to advance homeland security solutions.