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    European Commission to Offer Grants for Creating Digital Twins Using Blockchain for Defense Applications

    Blockchain developers and specialists are being given grants by the European Commission (EC) so that they adapt civil tech to defense applications.

    The European Defense Industrial Development was published by the EC on March 24. It calls on small to medium enterprises (SMEs) to come with solutions in the defense sector using new technologies that are quick to deploy and are cost-effective.

    How To Be Considered For The Blockchain Grants?

    The EC has provided an outline that offers guidance for the program, which may benefit from the 254 million Euros budgeted in 2019-2020 that were designated for grants to successful projects. The proposals should fall within these guidelines:

    “Based on real-time cloud and on-premise digital twin benefiting from blockchain technologies’ robustness, able to channel all currently optimized logistics needs, such as chain of spare parts, maintenance, energy consumables.”

    What Is a Digital Twin?

    Digital twins are virtual representations or mirrors of physical entities, assets, and processes such as human beings, pieces of infrastructure, machines or objects. The blockchain is capable of strengthening the digital twins’ integrity because it allows tamper-proof cryptographic tags for validating provenance, ownership, and states of either objects or products, to be used.

    What Can a Blockchain – Digital Twins Combination Offer?

    The 2018 Deloitte report says the combination between blockchain and digital twins can bring benefits for the internet of things (IoT) sector and other applications that are very useful for production environments’ predictive maintenance.

    According to Deloitte, blockchain is efficient at offering secure identity management and transparency in data analytics and ownership models. The EC admits that combining blockchain and digital twins is efficient in the energy, supply chains, and equipment maintenance sectors for defense. The submissions for the program will take place between April 15 and December 1, 2020, according to how the COVID-10 pandemic dictates.

    Blockchain and Defense

    As it has been reported of late, BAE Systems, the US-based contractor providing defense service solutions and support together with civilian systems and intelligence, has a cryptocurrency exploiter open position for supporting operations. Back in July last year, the US Department of Defense also released its blockchain technology plan for digital modernization.

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    Oana Ularu
    Oana Ularu
    Curious about what’s going on with all the money in the world, Oana is bringing you the latest news in the crypto world. She’s aware of the fact that you need to know everything that’s happening on the financial scene in order to play the cryptocurrency market, so you can count on her to share with you every little detail on what matters.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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