US Government Awards $2.25 Million to Blockchain Research Projects

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The US authorities has awarded analysis contracts to three startups working with blockchain value a complete of about $2.25m.

The Department of Homeland Security (DHS) quietly revealed the grants final week as a part of its Small Business Innovation Research initiative.

Who bought funded: DHS mentioned that it parceled out a complete of $9.7m between 12 firms, three of that are working with the tech. According to a launch, every agency bought about $750,000 to fund their analysis.

Here are the businesses that bought funds for his or her blockchain-related initiatives:

  • BlockCypher: The startup has been awarded a grant for its “blockchain platform for a number of blockchains, purposes and analytics. BlockCypher was the recipient of a $600,000 DHS grant final summer time.
  • Digital Bazaar: According to DHS, the corporate is engaged on a “verifiable claims undertaking” that utilizes “fit-for-purpose distributed ledgers”. Like BlockCypher, Digital Bazaar was given a DHS grant in 2016.
  • Evernym: This Utah-based enterprise will use the funds to help its analysis into “decentralized key administration utilizing blockchain”, in accordance to DHS.

The massive image: With the grants, the DHS is increasing the scope of its investments in blockchain.

To date, DHS – created throughout the George W. Bush administration within the wake of the September 11th, 2001 terrorist assaults – has been one of many extra prolific authorities departments within the blockchain house. Similarly, a analysis lab funded by DHS has additionally performed work on the tech, developing a bitcoin transaction analysis instrument final yr.

Some organizations supported by federal funding, the National Science Foundation particularly, have moved previously yr to provide working capital for blockchain-related analysis efforts

Image Credit: Mark Van Scyoc / Shutterstock.com

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