The US Department of Homeland Security is actively looking to fund anti-counterfeiting solutions from blockchain startups in the form of grants that will reach up to $800,000. This is one of the most viral stories in today’s crypto news.
The DHS (short for US Department of Homeland Security) and its unit named Science and Technology Directorate (S&T) announced this non-dilutive funding in a spread in over four phases on Tuesday – through its Silicon Valley Innovation Program (SVIP). The non-dilutive funding also means that an entity doesn’t need to sell equity in order to receive financing.
Related to the DHS’s November solicitation, the funding program is named “Preventing Forgery and Counterfeiting of Certificates and Licenses” through which the agency is looking to enhance its capabilities and prevent fake documentation using blockchain technology.
The director at SVIP, Melissa Oh, recently said:
“DHS has need of the innovations coming from this community to ensure we are at least a step ahead of national security threats.”
In order to qualify for a grant, blockchain startups need to present proposed solutions covering various use cases such as the issuing of digital documents related to travel, citizenship, immigration, and employment authorisation as well as cross-border oil and raw material movements.
The technical director at SVIP, Anil John, recently said:
“The broad Homeland Security mission includes the need to issue entitlements, licenses and certifications for a variety of purposes including travel, citizenship, employment eligibility, immigration status and supply chain security.”
On top of this, he further expressed his interest for blockchain technology.
“Understanding the feasibility and utility of using blockchain and distributive ledger technology for the digital issuance of what are currently paper-based credentials is critical to preventing their loss, destruction, forgery and counterfeiting,” he added.
Recently, the agency released a pre-solicitation document that discusses the use of cryptocurrencies and their feasibility in tracking transactions conducted using privacy coins such as Monero and Zcash.
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