Factcom Wins DHS Award To Develop Blockchain-Based Anti-Fraud System

Updated : 2019-11-19T20:18:27

The Department of Homeland Security (DHS) Science and Technology Directorate (S&T), announced it has awarded $197,292.00 to Factom, Inc. based in Austin, Texas, to develop a blockchain security system that agencies can use to create and verify identities and help detect fraud involving imports, such as raw materials.

S&T is exploring the application of blockchain and distributed ledger technology (DLT) to issue credentials digitally to enhance security, ensure interoperability, and prevent forgery and counterfeiting.