Dear Reader,
In an interesting development, Lockheed Martin has announced plans to integrate blockchain technology into its supply chain risk management operations. This announcement came last week, as Virginia-based Guardtime Federal has been working with Lockheed Martin for over 2 years on cybersecurity issues. Lockheed’s official statement on blockchain technology is as follows: “With this effort, Lockheed Martin becomes the first U.S. defense contractor to incorporate blockchain technology into its developmental process, enabling more efficient and assured offerings to the Federal Government.” Lockheed Martin is the largest of the defense contractors, with a $78.09 billion market capitalization and revenues of $47 billion.
This isn’t the first time the defense industry has made such an announcement. DARPA has been exploring the technology to create a secured blockchain messaging system. Earlier in 2016, the Pentagon issued $1.8 million to two tech firms to evaluate the technology. Sandia Laboratories, known very well for the Manhattan Project, has been tasked with creating a blockchain analytics tool. Much of the research will go into understanding illicit use and the perception that it’s a tool of criminals. This technology will help the intelligence community understand where various hacks come from and how critical infrastructure is affected. DARPA’s official statement on blockchain is as follows: “There is a critical DoD need to develop a secure messaging and transaction platform accessible via web browser or standalone native application. The platform separates the message creation from the transfer of the message within a secure courier to the reception and decryption of the message.” This technology and the increased acceptance by the intelligence community is a major sign that the old paper fiat system is on its way out.
