Blockchain startup Factom won a grant from the Department of Homeland Security (DHS) which is part of the final phase of the Silicon Valley S & T (SVIP) innovative program. It was set out to deliver a beta testing platform for the protection of data received from surveillance cameras and ground sensors of the U.S. Border Patrol. The office has awarded $192,380 to Factom, according to a press release.
Factom is able to integrate such data into a blockchain. The technology eliminates the possibility of outside interference, ensuring data security. The solution will be tested is variety of changing weather conditions, and different scenarios.
“The early phases of Factom’s work has informed architecture choices and design decisions inherent in integrating blockchain with existing technologies. In Phase IV, Factom will deploy this technology in a realistic field environment with Customs and Border Protection (CBP) to understand its operational impacts,” Anil John, S&T Identity Management Research and Development Program Manager said.
Beta testing also provides a better understanding of the operational impact of the technology. The startup wants to demonstrate how IoT devices can maintain a high level of reliability. As a result, Factrom plans to create a competitive and commercial product that can be offered on the market.
This marks the first time DHS is awarding the blockchain startup grant as part of the Silicon Valley Innovation Program (SVIP). According to the terms of the SVIP, technology companies can apply for $800,000 in funding over a 2-year period.
First $199,000 grant from DHS was given to Factom's team in the summer of 2016. Same year, the startup received a further $4.2ml, and in April 2017 - additional $8ml. Thus, the current grant from DHS has become the fourth to the firm.
Another 22 companies are also believed to be developing various technological solutions for DHS presently, and not just in the internet of things (IoT) field. Some projects include unmanned aerial systems, cybersecurity for financial services and systems for assessing passenger flows.
By Ekaterina Ulyanova