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Sunday, December 17, 2017

Blockchain IoT security startup emerges from stealth mode

By Nick Flaherty

Xage Security is claiming to be the first blockchain-protected security platform for the Industrial Internet of Things (IIOT). 

Led by a team of security and IoT software experts, the company has been operating behind the scenes for the past 18 months in 'stealth' mode, perfecting its technology and securing major customers and partners, including ABB, Dell, and Itron. However there are several other moves in the industry to use the distributed ledger technology behind blockchain for security applications in the IoT.
“Industry 4.0 is the story of our time, and the Industrial Internet of Things (IIOT) is the heart of this new era,” said Duncan Greatwood, the new CEO of Xage who joined from Apple. “Security is the foundation for IIOT, and today’s enterprise-IT security models of building walls and patching holes simply don’t work for these vast, dynamic networks. We’ve created the first solution to provide the necessary trust and integrity for secure distributed interactions at scale.”

Xage distributes authentication and private data across the network of devices, creating a tamper-proof “fabric” for communication, authentication, and trust that assures security at scale. Xage supports any-to-any communication, secures user-based and machine-to-machine access to existing industrial systems, works at the edge even with irregular connectivity, and gets stronger and stronger with every device added to the network.

Xage is working with customers and partners across the utility, transportation, manufacturing and energy industries, with projects spanning distributed command and control, automated device deployment, and authenticated remote data access.

For example, Xage is working with ABB Wireless on power and automation projects requiring distributed security. Xage has also partnered with Dell to deliver its security services on Dell IoT Gateways and the EdgeX platform for the energy-production industry. Additionally, Xage is working with Itron, the leading utility technology solutions company, to enable intelligent power-optimization applications by creating trust and controlling access between smart meters and power distribution infrastructure

"Distributed intelligence at the edge is a core component of Itron's active grid vision for utilities and smart cities," said Ty Roberts, VP Network Solutions at Itron Inc., "Xage's decentralized security architecture aligns with our vision by adaptively creating trust and controlling access between data, applications, devices, and users."

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