Factom receives grant from Department of Homeland Security

According to recent news, the U.S. Department of Homeland Security’s Science and Technology Directorate announced a grant to Factom, a company that specializes in blockchain-based IoT security solutions.

When a technology develops rapidly, whoever does not embrace it will be left behind, no matter which department of the government it is. The Department of Homeland Security’s Science and Technology Directorate recognized the importance of digital currency technology and awarded Factom a $199,000 grant.

A recent press release from the Department of Homeland Security states that they have awarded a grant to Factom, which is aimed at promoting the development of digital identity security for IoT designs. Factom, based in Austin, Texas, is one of many companies that responded to the Silicon Valley innovation program. The company's proposal titled "Using blockchain software to prove the integrity of data captured from edge devices" was selected and awarded the Internet Security grant, solicitation number HSHQDC-16-R-00035.

The Internet of Things is a popular technology that deals with the concept of connected devices that are connected via the Internet and constantly exchange data with each other. The constant exchange of data combined with some form of automation will give these IoT devices a certain degree of autonomy. The increasing number of IoT devices has also called for people to pay attention to their security. The Department of Homeland Security's response is to explore security solutions based on IoT devices.

According to Factom's proposal, the company will use blockchain technology to identify these devices. Identification will prevent these devices from "fraudulently" and ensure the integrity of the data. All details about the device have been registered on the blockchain, and it is impossible for anyone to change the past device data and falsify the device identity.

Blockchain is an important factor in IoT innovation, and not just because the Department of Homeland Security says so. The blockchain network and its smart protocols make the whole process more automated. It will help the exchange of information and value. Prototype devices for IoT are now being tested by various teams. We hope that in the future this technology will become mainstream.

Factom is involved in such a project, in which it is working on the construction of smart cities in China. Factom has enough expertise to carry out the project for the Department of Homeland Security. However, there is no fixed timeline yet, and it is not certain whether the Department of Homeland Security is keen to accept open source solutions.