Transmute Industries has secured $198,642 in funds from the Department of Homeland Security's science and technology directorate to create a blockchain application to automate the process of tracking raw material imports.
The Austin, Texas-based company will develop a proof-of-concept app for the Customs and Border Protection to monitor goods entering the country as part of the Verifiable Provenance, Traceability and Regulatory Compliance for Raw Material Imports project, DHS said Friday.
Under the phase 1 award, Transmute will also adapt its identity management technology to help increase CBP's visibility into the importation process. DHS S&T is examining the potential of blockchain technology to facilitate digital credentials issuance as part of fraud and counterfeit prevention efforts.
The directorate issued the award after an other transaction solicitation under its Silicon Valley Innovation Program.