Yesterday, the U.S. Department of Homeland Security (DHS) awarded $197,292 to Texas-based
Factom to develop a blockchain security system for imports such as raw materials into the country.
The award was made by DHS Science and Technology Directorate (S&T) to create and verify digital identities of importers and detect import frauds. The aim is to issue credentials to enhance security and prevent forgery and counterfeiting.
Factom’s project is focused on interoperability between blockchains and systems. Factom’s own public blockchain not only stores any type of data but also cryptographically anchors itself to the public Bitcoin blockchain. It’s not dissimilar to adding a digital fingerprint. The number of nodes in the Bitcoin blockchain is so much bigger that’s it’s almost impossible to tamper with it.
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