Factom And SPA To Improve Efficiency And Security Of Federal Organizations Using Blockchain

Blockchain, News | February 6, 2019 By:

Blockchain startup Factom will be working with US-based Systems Planning and Analysis (SPA) to explore the application of blockchain technologies to the Department of Defense (DOD) and federal customers.

Factom is a system for securing millions of realtime records in the blockchain with a single hash. It stores the world’s data on a decentralized system using blockchain technology for solutions in the mortgage industry, Internet of things (IoT) device integrity, digital assets and database integrity. Using the immutability of blockchain, the company provides third party compliance, audit and due diligence certainty.

SPA provides timely and objective analysis and integrated technical, operational, programmatic, policy, and business solutions in support of important national objectives. The company provides services in the areas of critical asset security, undersea systems and technology, force planning and optimization, joint warfare analysis, infrastructure protection and campaign analysis, among others. It serves departments of defense, homeland security, and energy sectors in the US.

The partnership will see SPA combine its knowledge of DOD and federal customer’s challenges with Factom’s blockchain technology solutions. The objective is to develop actionable solutions that will improve efficiency and security for key federal organizations.

“We are looking forward to the unique opportunities that become available through this joint effort,” said Paul Snow, CEO of Factom. “The Factom Blockchain is well positioned to support the incredibly large opportunity for blockchain technology within the government segment. Integrity of data in any form is a perfect use case for blockchain and we look forward to applying our independently verifiable, proof of record systems with SPA.”

Matt Ives, Director of Business Operations for Surety Programs Group at SPA, said that they take immense pride in providing cutting edge and the highest caliber solutions to their customers, and partnering with Factom is a rare and extremely compelling opportunity to continue with this tradition.

“Paul Snow and his team at Factom are leading providers of blockchain-as-a-service and are uniquely positioned to grow in the defense industry through their work with the Department of Homeland Security,” Ives said.

In June 2018, Factom received a $192,380 grant from Department of Homeland Security (DHS) Science and Technology Directorate (S&T) to support beta testing of a blockchain platform designed to secure IoT data.