ClearCryptos, the mission-driven company charting a path to crypto optimization, and US Federal Contractor Registration (USFCR), the worldwide leader in assisting companies to efficiently and successfully conduct business with the U.S. government, are excited to announce a partnership that will allow federal government contractors to leverage the distinct and unique technological capabilities of the blockchain.
This groundbreaking partnership spearheads the introduction of blockchain technology to all USFCR’s current and future clients. Facilitating the ability via the blockchain to ensure every contract is effectively implemented and executed, while also tracking and documenting every dollar involved.
Under the agreement, ClearCryptos becomes USFCR’s sole blockchain provider, developing a cheaper and faster way to facilitate contractor payouts. The partnership will provide USFCR’s clients the ability to develop smart contracts built on ClearCryptos’ blockchain technology, preparing them for next gen contracting that incorporates treasury-backed digital currency compensation.
In 2021, the federal government paid out an estimated $575 billion to federal contractors, including a record number of small businesses – many of them USFCR clients.
“Government contracting is often a slow, opaque process lacking in transparency and accountability,” said Eric Knellinger, President of US Federal Contractor Registration. “Today’s announcement, powered by ClearCryptos’ cutting-edge platform, paves the way for the future of government contracting.” ClearCryptos will continue to roll out additional partnerships with companies and communities that share the same values—integrity, trust, resilience—and seek to safeguard, improve, and expand the cryptocurrency space.
With this partnership, ClearCryptos is working to integrate hundreds of thousands of small, medium, and large-scaled businesses into cryptocurrency, helping people further understand and grow the importance of cryptocurrency for normal everyday business. This partnership will be a way to significantly reduce payout times for businesses in the future without the friction and limitations of current financial systems. This blockchain technology, with active contract tracking, the government will be able to hit their small business set aside thresholds, benefiting both the government and small businesses.
The federal government awarded contracts valued at $575-billion in 2019, up from about $545-billion in 2018. Of the contracts awarded in 2018, the U.S. Small Business Administration estimates that 25.05% (or an estimated $120.89 billion) went to small businesses. ClearCryptos is hoping to transition a majority of those contracts to cryptocurrency through their platform, reducing the time it takes for contractors to be paid by over 95%, for their government contracts. This is an exciting evolutionary step for cryptocurrency in general with crypto projects starting to integrate with contract-based Web 3.0 companies. We look forward to ClearCryptos serving as a major catalyst to the US economy and streamlining, protecting crypto and fiat money transactions.
USFCR (US Federal Contractor Registration) is the world’s largest and most trusted full-service government contracting solution provider. With over 14 years of experience in the federal marketplace USFCR has completed over 200,000 compliant SAM (System for Award Management) registrations for businesses and nonprofits. In addition to managing SAM registrations, USFCR offers a proprietary platform, the Advanced Procurement Portal, and turn-key total solutions such as contract consulting and contract lifecycle management to take federal contractors from registration to award and beyond.
ClearCryptos (CCX), a company based in San Juan, Puerto Rico, first protocol is a decentralized exchange (DEX) with an aggregated solution that will search for the best pathway for the user to swap cryptocurrencies giving the user the best rates possible, while also showing the user alternate options. ClearCryptos trading and analytics is based on our powerful SiriusIQ DNA platform, which is designed for secure, reliable, and scalable workflow, AI, analytics, and data automation operation.