Finance

US Navy Unveils PARANOID Blockchain Technology to Safeguard Against Cyberattacks

The United States Navy has introduced a new blockchain technology named PARANOID, designed specifically to protect software from cyberattacks. Initially created by the Naval Air Warfare Center Aircraft Division (NAWCAD) for the U.S. Navy's aviation programs, this cutting-edge solution is now being offered to private sector companies for commercialization.

In a statement from the Department of Defense's national technology transfer partner, TechLink, it was revealed that the PARANOID technology was developed to support the secure development of software for the Navy's aviation enterprise. Recognizing the broader applicability of this technology, the Navy has made it available to any organization or company needing to enhance the security of their software developments.

TechLink's announcement highlights that the U.S. Navy is particularly interested in establishing cooperative research and development agreements with private institutions. This collaboration aims to facilitate joint work on the project and ensure the timely transfer of innovations to the Navy.

In related news, the U.S. Securities and Exchange Commission implemented new disclosure rules regarding cyberattacks in July 2023, underscoring the increasing importance of cybersecurity across various sectors.

This development marks a significant step in the Navy's ongoing efforts to bolster cybersecurity and protect critical software from evolving threats.

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