The U.S. Department of Homeland Security (DHS) has awarded a grant of nearly $1 million dollars to a blockchain startup.
Virginia-based DigitalBazaar, according to a September 25 release from the DHS, received the $749,241 in funding through the Small Business Innovation Program (SBIR). The grant, the department said, is intended to fuel the development of "fit-for-purpose blockchains" for a number of use cases.
Specifically, the government said, the firm will work on a "flexible software ecosystem" to include "digital credentials and digital wallets to address a wide variety of identity management and online access use cases."
The software is being developed for the department's Homeland Security Enterprise initiative.
In statements, government officials characterized their work with DigitalBazaar as being focused on research and development, serving as a way to explore applications of the tech within the DHS.
According to Doughlas Maughan, director of the department's Cyber Security Division:
Homeland Security image via Mark Van Scyoc/Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.