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SIMBA Chain Lands $1.5 Million Blockchain Development Contract from U.S. Navy

The $1.5 million contract will go towards designing and building a demand-sensing service that utilizes blockchain technology.  The Defense Logistics Agency (DLA), the body that manages the U.S. military’s supply chain, says the service is critical to ensuring that its personnel is fully-equipped when carrying out their duties.  The contract named ALAMEDA (Authenticity Ledger for … Continued

The post SIMBA Chain Lands $1.5 Million Blockchain Development Contract from U.S. Navy appeared first on BeInCrypto.

Republished by Plato



The U.S. Navy has awarded the SIMBA Chain blockchain firm with a Small Business Innovation Research (SBIR) contract to develop a supply chain management tool for its logistics arm.

The $1.5 million contract will go towards designing and building a demand-sensing service that utilizes blockchain technology. 

The Defense Logistics Agency (DLA), the body that manages the U.S. military’s supply chain, says the service is critical to ensuring that its personnel is fully-equipped when carrying out their duties. 

The contract named ALAMEDA (Authenticity Ledger for Auditable Military Enclaved Data Access) came into effect on Jan. 6, 2021.

SIMBA Chain is a blockchain-based app-developer. Its cloud-based enterprise platform enables governments, industry, and academia to develop Web 3.0 distributed apps (dApps) across several blockchain platforms.

It also provides enterprise solutions that allow business and blockchain to “seamlessly” integrate. The company has partnered with 3,505 organizations and has developed over 1,700 dApps as a result.

blockchain man

Battleground Blockchains

SIMBA Chain already has a history with the U.S. military. In June of last year, the company designed a blockchain-based prototype to monitor inventory at a U.S. Marine Corp depot in Georgia.

The joint effort resulted in a proof of concept for an immutable ledger to monitor military inventory.

Moreover, over the past few years, the blockchain app-developer successfully completed several developments with DARPA, the U.S. Department of Energy and U.S. Department of Defense.

This contract sees SIMBA Chain working with the Naval Enterprise Sustainment Technology Team (NESTT) at the Fleet Readiness Center Southeast (FRCSE) in Florida. The project focuses on the Boeing F/A-18 Hornet’s supply chain.

Speaking about the contract, SIMBA Chain CEO, Joel Neidig, says his company is;

“Honored to work with NESTT and the FRCSE on one of the most pressing issues facing the nation today, managing and securing military supply chains and ensuring readiness to thwart cyber and physical threats.”

The CEO will serve alongside members of the NESTT technical team as a principal investigator on the project.


Governments Take Interest

Many experts tout blockchain for military use. In an article, National Defence Magazine explores the technology’s potential for aerospace defense, citing how it can be used to track parts for satellite equipment.

Moreover, the U.S.’s General Service Administration says “agencies are eager to better evaluate and adopt distributed ledger technologies (like blockchain) that use encryption and coding to improve transparency, efficiency, and trust in information sharing.”

At the moment, there is a focus in the crypto-world on government interest in Central Bank Digital Currencies as well as legislative action such as the STABLE Act.

However, it seems governments are also actively researching the space’s potential impact elsewhere.

In the next few years, blockchain technology might cross into a new frontier of applications. 

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Emmanuel entered the cryptocurrency space in 2013 as a cryptocurrency broker. He is a crypto-enthusiast, entrepreneur, and investor, who has built and led several projects and communities in the space. Interests include: DeFI, CBDCs and investing.

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Cardano ($ADA) Powered Decentralized Apps Have Potential for ‘Parabolic Gains’

Recently, popular crypto analyst Elliot Wainman shared his latest thoughts on Cardano ($ADA) and its ecosystem. In a recent YouTube video (titled “CARDANO ECOSYSTEM IS ABOUT TO MAKE HOLDERS THE BEST GAINS”), Wainman talked to viewers about the huge potential of Cardano-powered decentralized apps (DApps) once support for smart contracts goes live. According to a […]

Republished by Plato



Recently, popular crypto analyst Elliot Wainman shared his latest thoughts on Cardano ($ADA) and its ecosystem.

In a recent YouTube video (titled “CARDANO ECOSYSTEM IS ABOUT TO MAKE HOLDERS THE BEST GAINS”), Wainman talked to viewers about the huge potential of Cardano-powered decentralized apps (DApps) once support for smart contracts goes live.

According to a report by The Daily Hodl, he said:

It does feel as if there’s a sea change on the horizon here, and that Cardano is not only going to start shipping, but that the projects and ecosystems that will be built over there are set to have Solana-like, Polkadot-like, BSC-like (Binance Smart Chain) gains, and that means that those who invest early in the right projects will most likely experience some serious parabolic gains.

He also talked about Cardano’s huge and passionate army of fans/supporters:

Now people love to hate on this but I believe that one of the most powerful valuation tools for crypto is Metcalfe’s law. This is why Bitcoin tends to go parabolic the more people get involved in it. Essentially, Metcalfe’s law is the concept of how you can calculate the actual value of a network. And that’s what blockchains are. They’re networks of computers, of developers, of users...

Metcalfe’s law states that the value of a telecommunications network is proportional to the square of the number of connected users of the system (n2). So essentially, the more users, the more people, the more value...

Cardano does have a knack for adding users and people to its network in a way that other blockchains should certainly strive to do, and something that I think that they can do pretty uniquely. I think it comes down to Charles [Hoskinson] and his unique charisma.

It’s worth noting that the price of Cardano’s $ADA token has been surging over the last few months. According to CryptoCompare data, $ADA is currently (as of 17:29 UTC on May 15) trading around $2.224.


The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.


Image by WikiImages from Pixabay

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Another XRP lawsuit update: Ripple denies it tried to ‘artfully plead’ a good faith defense

Republished by Plato



After exchanging a few Memorandums of Law over the past few days, Ripple’s legal battle with the U.S Securities Exchange Commission is threatening to go on for more weeks and months. As far as XRP is concerned, the crypto at the center of this lawsuit has concomitantly not fared well lately, subjecting itself to a 16 percent decline in the past week alone.

The SEC had recently requested an informal conference to discuss all the legal advice that Ripple has sought in the past, with the agency asking the court to compel the defendants to produce all the relevant documents. By doing so, the SEC intends to litmus check whether or not Ripple’s offers and sales of XRP were in compliance with federal security laws. The SEC also asserted that it was within its rights to call for the same. 

At the time, the regulatory watchdog had offered two bases for its “extraordinary” request.

However, in its response letter, Ripple Labs has now asserted that neither of them had merit and the SEC’s argument is wrong on both the law and the facts. The defendant firm claimed that the purported “selective disclosures” that the SEC relied on were all made outside the context of the lawsuit.

Ripple further asserted that relating matters that weren’t disclosed would remain confidential, adding that it had not done anything to inject the already-waived communications back into the lawsuit. 

The SEC had alternatively argued that Ripple had put the legal advice it received at issue by asserting that the firm “reasonably understood” that federal securities laws did not apply to its offers and sales of XRP, and hence, waived privilege over the advice it received. Ripple, in turn, argued that the SEC’s argument misstated the facts of the case, Ripple’s defense, and the applicable law. The defendants’ letter went on to say,

“The SEC attempts to brush off the fact that it is the party attempting to put legal advice at issue by pointing instead to Ripple’s affirmative defense of fair notice, which the SEC argues waives privilege because Ripple allegedly received adequate notice from its lawyers… This misstates the law both as to privilege waiver and as to fair notice.”

According to Ripple, the SEC’s mere speculation that privileged advice to them might undermine their fair notice claim is insufficient to compel disclosure of privileged materials. Unsurprisingly, Ripple also set forth to seek to compel the SEC to produce its own internal communications. The aforementioned letter professed, 

“Ripple’s non-privileged internal communications about XRP are discoverable, just as the SEC’s are; and Ripple has not resisted producing such communications. But none of that puts legal advice that Ripple received at issue in this case.”

Accusing the regulatory watchdog of framing Ripple, the defendants’ letter asserted that the SEC repeatedly and misleadingly attempted to reframe Ripple’s affirmative defense by stating that the blockchain company “reasonably understood” federal security laws. Highlighting the same, the letter added,  

“Whether Ripple subjectively believed that its actions were lawful or unlawful does not matter.”

There is no legal basis for the SEC to extort information, the defendants concluded, with the blockchain firm going on to submit,

“Contrary to the SEC’s assertion, Ripple has not attempted to “artfully plead” a good faith defense. There is no basis to grant the SEC’s request to order Ripple to produce privileged communications beyond those it disclosed six years ago outside of litigation.” 

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Eight Exciting Crypto Projects to Stake and Earn Passive Income

Republished by Plato



If you own tokens or NFTs, dozens of people in the community might have told you about staking. They are not wrong.

According to the State of Staking Q1 2021 report by Staked, more than $20 billion was paid out to investors in 2020 in staking rewards. The same report found that the average staking reward was 11.2% per year for investors. It lags far behind Dogecoin returns, but it’s a good source of passive income.

The up-and-coming crypto tokens can be purchased for cheap. If you buy the right token early, you could benefit from the massive upside potential. For instance, a $1,000 investment in Ethereum on August 11, 2015, would be worth a staggering $4.1 million today. Ethereum was worth just under $0.67 in August 2015.

Even if the price doesn’t rise so spectacularly, you could earn handsome rewards along the way by staking your tokens.

Remember that not all tokens are going to do well in terms of price. Many will bite the dust. So if you are going to bet on the up-and-coming projects, make sure they have the potential to build and nurture a community around them. It’s the community that would want to own these coins, increase their usefulness, and push the prices up.

Better yet, diversify your investments by holding a mix of proven and nascent tokens to minimize risk while still reaping the rewards.

What is staking?

Staking is the process where you lock your tokens in a wallet to perform various network functions such as transaction validation on a Proof of Stake (PoS) blockchain. Sometimes staking involves delegating or adding tokens to a staking pool.

On the PoS network, anyone with a minimum required balance of a token can validate transactions and earn staking rewards. The stake also incentivizes the maintenance of the network’s security through ownership.

Just like miners are rewarded on a Proof of Work (PoW) network for mining new blocks, stakers are rewarded on a Proof of Stake (PoS) blockchain with additional cryptocurrency for contributing to the network.

The staking rewards could range anywhere from 3% to 300% a year. You get to diversify your income stream and monetize the idle tokens.

Some crypto exchanges and wallets reduce the transaction fees based on how many coins you stake.

Here are some of the most promising up-and-coming crypto projects to stake and earn rewards:

1. Cardano (ADA)

Pioneered by a team of engineers and academicians, Cardano is more energy-efficient than Bitcoin. It is a decentralized protocol that aims to make financial services more accessible in developing countries. Cardano is often seen as a threat to Ethereum.

Cardano is an open-source and non-profit crypto network. The platform is managed by three separate bodies. It is based on the Outboros PoS technology to enable a more secure blockchain network. It allows developers to execute end-to-end tests without using code.

It is the first PoS blockchain platform to be founded on peer-reviewed research.

Cardano’s native token is ADA, which is traded on most leading exchanges. ADA owners can stake their coins to earn 5%-7% annual rewards. It has become one of the most staked coins in the industry.

2. Public Mint (MINT)

Public Mint is a payment system that is bridging the gap between traditional finance and decentralized finance. The native currency of the platform is the US dollar (USD).

Public Mint has a fixed low transaction fee of just $0.05 per transaction.

You can load money into the Public Mint wallet using your bank account, stablecoins, credit cards, and more. And then you can pay or send money to anyone with the security of blockchain.

Public Mint’s ‘Earn’ rewards program is set to go live in Q3, 2021. It will allow you to access the high earnings rates available on the DeFi market for your fiat or stablecoin deposits. You’ll still be able to move funds instantly like a checking account.

The Earn program allows regular users to stake USD and receive an equivalent balance of earnings-bearing stablecoin USD+. Users can redeem the USD+ for USD or USDC anytime.

The USD+ is an earnings-bearing token that will yield daily earnings proportional to the current APY, as long as your USD is locked into the liquidity system.

MINT is Public Mint’s governance and utility token, which gives holders additional rewards including a share of the program’s fees. MINT holders get to vote on portfolio allocation and other governance matters.

Public Mint has partnered with KIRA Network to enable its users to stake USD+ stablecoin and MINT tokens to enjoy the DeFi yield opportunities. Public Mint currently offers an APY of 118%.

3. Uniswap (UNI)

Uniswap is a rapidly growing crypto exchange protocol that facilitates automated transactions between tokens on the Ethereum blockchain.

Traders pay a 0.3% fee on trades, which is distributed among liquidity providers. It has emerged as the go-to exchange for trading ERC-20 tokens.

Uniswap’s governance token is UNI, which you can stake to earn rewards. UNI has relatively low staking rewards of 3.31%. It has a market cap of $20 billion and it trades at $38.

4. Hoard Exchange (HRD)

The team at Hoard Exchange is working on an NFT marketplace with loan functionality using NFT as collateral. It provides an infrastructure to integrate the in-game items into the Ethereum blockchain. The platform bridges the gap between gaming and NFTs.

Developers can use Hoard to mint NFTs for use in their games even if they have no knowledge of blockchain coding.

It also facilitates buying, selling, and borrowing of in-game assets between players. The assets could include virtual real estate, collectibles, digital art, etc.

Players with stablecoins can issue loans against the collateralized NFTs to earn some extra income.

Hoard supports staking on its HRD » Read more

” href=”” data-wpel-link=”internal”>coin, which is available for staking on Uniswap. The marketplace itself is a liquidity provider on Uniswap.

Adding HRD/ETH to the trading pool will earn you UNIV2 tokens. You can swap HRD with any token available on Uniswap.

Here’s the cool part: You get double-yield from the same funds. Staking UNIV2 generates rewards on both the Uniswap and Hoard platforms.

Investors staking and transacting on the Hoard Exchange marketplace can reduce their platform fee because a portion of the fee is returned to investors in the form of staking rewards.

The HRD token holders also get voting powers and have a say in the governance of the platform as Hoard aims to become a DAO.

5. SuperFarm (SUPER)

SuperFarm is another NFT marketplace in the gaming category. It allows gamers to farm NFT tokens. The cross-chain DeFi protocol enables the launching of new NFTs without the need for programming.

Any project can use SuperFarm to deploy an NFT farm with customized rules and incentives. Unlike Hoard Exchange which is based on the Ethereum network, SuperFarm is built on the Polygon (formerly Matic Network) platform.

Once the full-release version is out in the next few months, it will offer video game integrations and NFT-based voting, rental, and loans. SuperFarm acts as a link between the gaming industry and the crypto ecosystem.

Users get access to limited edition items and unique gaming experiences. They can also rent, loan, or exchange their assets.

SuperFarm’s utility token is SUPER, which is used for fees, NFT drops, governance of the platform, and of course, staking.

You can stake SUPER to earn exclusive rewards on SuperFarm’s partner farms. Stakers will get rewards with platform fees.

6. Ethernity Chain (ERN)

Ethernity Chain is a new marketplace for “authenticated” NFTs. Since its launch earlier this year, it has successfully completed a public token sale on Polkastarter. It has also announced partnerships with Kenetic and Terra Virtua.

Ethernity Chain’s native token is ERN. The platform partners with creators to mint their unique and authenticated artworks as NFTs.

Ethernity Chain also launched a 30-day Liquidity Rewards program on March 15 to incentivize the ERN/ETH Uniswap LP. During the program, 50,000 ERN tokens were distributed to ERN/ETH liquidity providers on Uniswap V2.

Unfortunately, US citizens are not allowed to participate in Ethernity staking.

Ethernity Chain has a monthly payout plan for ERN token stakers, but the APY keeps fluctuating between 100% and 300%.

7. Polkadot (DOT)

Polkadot is a unique PoS protocol by Web3 Foundation. It provides a system where permissionless and public networks, consortium chains, and oracles can seamlessly interact with one another. They can transact and exchange information in a trustless way.

Polkadot is making it incredibly easy for developers to build their own decentralized apps, utilities, and projects; and connect with one another. Also, Polkadot doesn’t suffer from the scalability issues that haunt Ethereum.

Polkadot’s native token is DOT, which currently trades at $40. It has a market capitalization of $40 billion. The staking rewards for DOT range between 13%-15%.

8. Polygon (MATIC)

Matic Network is backed by Binance and Coinbase. It has recently rebranded as Polygon, but the trading ticker is still MATIC.

Matic Network is a scaling solution that uses an adapted version of Plasma framework with PoS side chains. It enables extremely fast and low-cost transactions. A single Matic side chain can theoretically achieve 216 transactions per block.

Polygon’s token MATIC runs on Ethereum. You can use it to pay for services on the Matic Network. It is also the settlement currency between users within the Matic ecosystem.

On Matic Network, you can stake your tokens via the Staking Dashboard. You have to delegate your tokens to a validator to begin earning a passive income.

The validator will take a small percentage of your staking rewards as commission. But as a delegator you will be able to track statistics, withdraw, or re-stake your rewards. Matic currently offers about 21% APY reward.


Staking PoS tokens is a smart way to earn passive income while holding your tokens and NFTs. Money flows into your account while you literally do nothing, except, of course, contributing to improving the network security.

The annual percentage yield (APY) on crypto tokens is far more lucrative than the interest rates on bonds. And then there’s the potential for price appreciation if you buy the right tokens early, which could dramatically boost your returns.

Image by Tumisu from Pixabay

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