Coin News

Factom wins grant to protect US Border Patrol data, prices rally by 14%

Factom has rallied in the wake of news that the project will receive a grant from the US Department of Homeland Security to trial recording Border Patrol data on a blockchain.

Factom has enjoyed a favourable start to the week, as it is now the recipient of a $192,380 USD grant from the US Department of Homeland Security.

The grant, which was first announced on Friday the 15th of June, is designed to support a beta trial that will see data obtained from Border Patrol cameras and sensors stored on Factom’s network.

Factom – a fellow US-based startup – intends to integrate data collected from surveillance networks into a blockchain; where information is immutable and footage cannot either be destroyed or otherwise tampered with.

Speaking in a press release, Anil John  – the Identity Management Research and Development Program Manager at the Department of Homeland Security Science and Technology Directorate – quipped that “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.”

Factom’s performance will soon be assessed in a live environment with limited internet availability and variable weather conditions.

Factom has previously been supported by the Department of Homeland Security – the project’s latest grant is the fourth tranche of a grant provided from the Department’s Silicon Valley Innovation Program.

On the subject, Melissa Ho – the Silicon Valley Innovation Program’s Managing Director – offered that “Operational testing in a realistic U.S. Border Patrol environment will greatly benefit the development of this technology… SVIP’s goal is to partner with companies to produce the best possible market-ready products that address homeland security needs and we feel that this project could reach that point.”

Factom has reacted favorably to the news – at press time, the cryptocurrency trades at $12.23 USD, and is up 14.65% day-on-day.

Posted: Oct 30, 2020 Author: Bryan Smith Categories: Coin News