Factom Receives $199,000 Grant from the U.S. Department of Homeland Security to Improve IoT Security Using Blockchain

When a technology grows, those who fail to adopt it will be left behind, no matter which branch of government they belong to. Recognizing the importance of digital currency technology, the U.S. Department of Homeland Security’s Science and Technology Directorate has awarded Factom a $199,000 grant.

The U.S. Department of Homeland Security recently held a press release stating that they have authorized a grant to Factom to advance the development of digital identity security for IoT devices. Factom, based in Austin, Texas, was one of the companies that submitted proposals to Silicon Valley's innovation project Other Transaction Solicitation late last year. The company's proposal titled ' Blockchain Software to prove Integrity of Captured Data from Border Devices ' was selected, so it received this grant to protect the Internet of Things, Solicitation Number: HSHQDC-16-R-00035 .

IoT technology is the latest technological trend that deals with the concept of connected devices that are constantly exchanging information with each other via the internet. This data exchange coupled with some form of automation will give these IoT devices a degree of autonomy. As the number of IoT devices continues to increase, it requires a focus on security. The DHS project aims to find solutions for the security of IoT devices as these devices are part of their infrastructure.

According to Factom's proposal, the company will use blockchain technology to verify these IoT devices. This verification method will prevent unauthorized access caused by device spoofing to ensure data integrity. With the detailed information of all relevant devices registered on the blockchain, any attempt to change past device data and spoof the device identity will be almost impossible.

Blockchain is an important part of the IoT revolution. Blockchain networks and their smart contracts make it easier to automate the entire process while facilitating the exchange of information and value. Many groups are already experimenting with IoT device prototypes. We look forward to seeing them become mainstream in the future.

Factom is already involved in one such project - the company is working on a smart city project in China. Factom already has enough expertise to execute the DHS project. However, there is no fixed timeline yet, and it is also uncertain whether DHS is keen on adopting open source solutions.