Digital Bazaar awarded with $200k by the U.S. Homeland Security

The adoption of blockchain has seen a massive surge in the past few months as more and more organizations are shifting towards using the blockchain technology in their industries and systems. Recently, the U.S. Department of Homeland Securities has been actively participating in the research and development of blockchain technology.

Recently, DHS partnered with Mavennet and provided the startup with funds to develop an oil tracking system based on blockchain technology. This system would be used on the Canadian Border to keep track of the oil import in the country.

Digital Bazaar gets awarded for management solution

On Thursday, DHS announced that the current paper-based system used for validation and verifying of licenses and certifications are not safe as they can be counterfeited or forged. They believe that switching to blockchain tech and turning the processes digital would help them improve the security of the documents and prevents any other risks.

To help with this, they awarded $200,000 to blockchain startup Digital Bazaar to work on the “Interoperable Enterprise Identity and Credential Life-cycle Management” project to ease up the processes for DHS. This project would help the DHS to improve the global standards and safety of the organizations, and it’s working. This advancement towards blockchain by the U.S. governing bodies can be a positive sign for the future, and it might help cryptocurrencies as well.