European Commission Invites Blockchain Developers for Defense Centered Solutions March 26, 2020 March 26, 2020 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsMarch 26, 2020 by Kelly Cromley

European Commission Invites Blockchain Developers for Defense Centered Solutions

In an attempt to encourage creation of advanced blockchain powered solutions for sectors ranging from civil to defense, the European Commission has announced grants to blockchain professionals.

The EC has rolled out a European Defense Industrial Development Program inviting SMEs (small and medium enterprises) to offer quick, cheaper systems based on fresh methods, and suggestions for technologies or ideas that have earlier not been adopted by defense industry.

With regards to blockchain, the EC offers an overview of what is expected from the blockchain solution.

If selected, the project will be backed by €254 million set aside for grants in the budget for 2019-2020. In particular, the EC has sought plans that are “Based on real-time cloud and on-premise digital twin benefiting from blockchain technologies’ robustness, able to channel all currently optimized logistics needs, such as chain of spare parts, maintenance, energy consumables.”

A digital twin is the unreal portrayal or reflection of any physical object, procedures or asset (for example, an object, machine, human being or a piece of infrastructure).

The blockchain domain can improve the completeness of digital twins by, for illustration, permitting the utilization of unalterable crypto tags that authenticate the source, ownership of goods or items and condition.

As pointed out in a Deloitte 2018 report, merging digital twins with blockchain can provide specific advantages to industries such as the IoT (Internet of Things), which can be utilized, in addition to other apps, for prognosticative sustenance in manufacturing ecosystem.

Deloitee has underlined that blockchain can be beneficial to offer safe identity administration, open ownership miniatures and effective info analytics, each of them can improve the endurance and flexibility of several systems.

As demonstrated from aforesaid guideline, the EC acknowledges the ability of merging blockchain with digital twins for varied defense centered domains such as logistics, energy and equipment service.

Applications for receiving grants can be submitted from April 15, with interim due date on December 1, 2020, on the basis of developments related to the coronavirus disease.

As mentioned recently, BAE Systems, a US headquartered contractor that offers assistance and service solutions for intelligence, defense and civilian systems, advertised an opening for position “cryptocurrency exploiters” to back its functions in February.

In July 2019, the US Department of Defense published its own strategy for blockchain technology in its four year course of action for digital upgradation.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.