BALTIMORE, Dec. 6, 2021 /PRNewswire/ -- Softhread, Inc. has been awarded a Phase I Small Business Innovation Research (SBIR) award from the National Science Foundation. The funding will enable Softhread, though its proprietary Chios™ Platform to expand the application of blockchain beyond cryptocurrency and employ the immutability and auditability of a permissioned blockchain to enhance the security and integrity of traditional databases in the life-sciences and healthcare industries. If successful, the commercial impact of the patent-pending decentralized, secure, automated platform is to increase data fidelity, as well as reduce administrative overhead, optimize privacy and security of large data sets.
Dr. Yelena Yesha, Co-Founder and Chairwoman of Softhread, and Inventor of the Chios™ platform said: "We are delighted to have received this prestigious award and are looking forward to collaborating with our strategic partners to continue the development of and commercialize our platform built with conventional blockchain features enhanced by proprietary functionality."
"While SBIR Phase I is focused on life-sciences and healthcare, we are looking forward to expanding the utility and commercial application of our platform to other industry verticals such as insurance, cybersecurity, internet of things and information management services," said Dr. Vasiliu-Feltes, CEO of Softhread.
About the NSF's Small Business Programs
America's Seed Fund powered by NSF awards $200 million annually to startups and small businesses, transforming scientific discovery into products and services with commercial and societal impact. Startups working across almost all areas of science and technology can receive up to $2 million to support research and development (R&D), helping de-risk technology for commercial success. America's Seed Fund is congressionally mandated through the Small Business Innovation Research (SBIR) program. The NSF is an independent federal agency with a budget of about $8.5 billion that supports fundamental research and education across all fields of science and engineering. For more information, visit seedfund.nsf.gov.
Softhread is an information technology company that uses Chios™ -a patent-pending blockchain and AI-enabled platform that preserves confidentiality and optimizes network security, while enhancing operational efficiency. Through its decentralized system that empowers state-of-the-art interoperability, Softhread builds scalable enterprise solutions that are highly customizable, industry-agnostic and optimize the ROI of big data management.
For more information about Softhread's solution, please visit www.softhread.com.
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SOURCE Softhread Inc.