US Air Force Allocates $800,000 To Blockchain Analytics

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US Army (Courtesy: Twitter)
US Army (Courtesy: Twitter)

The US Air Force has once again sought out the assistance of blockchain analytics firm Chainalysis, according to Decrypt.

A contract dated May 19, 2020 detailed the payment of $779,740 (£587,500, €658,600) to the New York-based company but provided fairly vague reasoning for the partnership.

As a description tab within the document makes reference to a “crypto currency data subscription”, it is thought that the USAF could be calling on the company’s specific blockchain analytics tools, rather than its non-crypto related software.

Although some have argued that the military branch could simply be exploring the technology to develop a more reliable and secure supply chain management system, others have pointed to more strategic motives.

Digital asset technology has been used by states traditionally hostile to the US to achieve certain aims, whether Iranian or North Korean nuclear development or Venezuela’s attempt at dedollarisation via cryptocurrencies.

The exact reasons for the partnership remain unclear, however the latest deal brings the total sum paid by the USAF to Chainalysis to $900,000.

Its selection of the company is by no means surprising. Not only did it become the first blockchain firm to be listed on Forbes’ ‘Next Billion-Dollar Startups list’, but it has also carried out work for both the FBI and SEC in the past.