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US Authority Offers $800,000 to DLT Startups for Anti-Counterfeiting Solutions

  • Yuri Molchan
    📰 News

    The Department of Homeland Security, USA, intends to sponsor blockchain startups that will create anti-forgery solutions


US Authority Offers $800,000 to DLT Startups for Anti-Counterfeiting Solutions
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The US Department of Homeland Security (DHS) and its scientific unit Science and Technology Directorate (S&T) intend to find and sponsor blockchain startups that are able to provide solutions that will protect licenses and certificates from being forged.

This move is part of the Silicon Valley Innovation Program (SVIP). The best part for startups in this is that they do not have to offer their securities or equities to DHS to get the money.


Blockchain can help protect licenses

This funding scheme is being conducted within the DHS initiative called “Preventing Forgery and Counterfeiting of Certificates and Licenses”. This is the way the governmental authority wants to increase its chances of preventing fraudsters from forging documentation by means of the open ledger technology.

The managing director of SVIP said in a recent interview that DHS requires some innovative solutions and technologies to make sure it can prevent current threats to national security.

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Who can get the grant?

To be able to get the aforementioned grant, DLT firms have to show the required solutions that can be used in various practical cases, which would include the emittance of digital documents for travelling, gaining citizenship, immigration and employment permits. Documents are also required for selling oil and raw materials between countries.

Only those startups that have not been bound by a contract with the government during the last year for a total amount of $1 mln or more will be eligible. Besides, their staff must be fewer than 200 people.

The reps of DHS added that their goal is to issue licenses, entitlements and certificates for a large number of purposes, including citizenship, supply chain security, as well as those that are mentioned above.

DHS and blockchain

The agency has been looking into the DLT for a few years now. Since 2015, it has been getting offers related to research in this area from small startups in order to provide DHS with a better understanding of blockchain.

Among the recent interests of the agency is the question of whether it is possible to trace transactions in such privacy-oriented crypto coins as Zcash and Monero.

Not the first case

Earlier, U.Today reported that separate US states have also begun to encourage blockchain startups with cash incentives for working on cases to do with the government. In particular, one of these states is Ohio.

Cover image via u.today
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It Would Take Several Seconds to Hack Every Cryptocurrency in the Nearest Future


It Would Take Several Seconds to Hack Every Cryptocurrency in the Nearest Future
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Blockchain is commonly known as an immutable ledger that is impossible to hack, but there is always a looming threat of quantum computers. HCASH Chief Scientist Dr Joseph Liu, who claims that every single cryptocurrency can be hacked in a matter of seconds, has come up with his own coin that won’t be threatened by quantum hackers.

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The inevitable quantum takeover     

Quantum computers are generally considered to be the Achilles’ heel of Blockchain-based cryptocurrencies, including Bitcoin. IBM has already announced its first quantum computer with Google and Intel also working in that direction in 2019.


IOTA, which is powered by DAG dubbed ‘Tangle’, is considered to be the only quantum-proof cryptocurrency on the market, but there could be yet another option – Hypercash that recently presented its post-quantum secure Ring CT protocol.    

‘If you want to use this computer to break the … normal security, it’ll take maybe 500 years to break the system. If you use a quantum computer, maybe several seconds. Hcash is trying to provide security, even in the existence of this future computer,’ – he claims during a recent interview.

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A precursor to Monero     

The aforementioned quantum-resistance cryptocurrency is based on Liu’s research paper about a ‘linkable ring signature.’  Fun fact: that paper, which was published back in 2014, was used by the creators of Monero as the basis for the flagship privacy coin.

The Ring Confidential Transaction (RingCT) allows having an external verifier without exposing who that verifier is. Liu didn’t expect the coin to produce any significant impact, but now he is eager to improve the protocol of the billion dollar currency without getting any financial gains.

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High hopes for Blockchain

Despite his gloomy prediction about the quantum takeover, Liu is still certain that the future of Blockchain is bright. He is certain that there will be an increasing number of Blockchain-related jobs that will be coupled with growing academic interest in cryptography. There is will be many use cases of Blockchain technology in different spheres of our life.

Cover image via www.123rf.com
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