Former Apple executive and Topsy CEO Duncan Greatwood has joined Xage Security as CEO, and will be responsible for driving what is said to be "the first and only blockchain-protected security platform for the Industrial Internet of Things (IIOT)."
The company has been operating behind the scenes for the past 18 months, working on its technology and securing major customers and partners, including ABB, Dell, and Itron.
Says Greatwood: “Industry 4.0 is the story of our time, and the Industrial Internet of Things (IIOT) is the heart of this new era.”
"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.”
According to a company release, "this the first and only blockchain-protected security platform for IIOT and creates the essential trusted foundation for secure cooperation and data exchange between machines, people, and applications. The company 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; supporting any-to-any communication, securing user-based and machine-to-machine access to existing industrial systems, working at the edge even with irregular connectivity, and getting stronger and stronger with every device added to the network.
Xage has been working with ABB Wireless on power and automation projects requiring distributed security. The company has also partnered with Dell to deliver its security services on Dell IoT gateways and the EdgeX platform for the energy-production industry. Additionally, they have been working with Itron, the leading utility technology solutions company, to enable intelligent power-optimisation 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.
"Xage's decentralised security architecture aligns with our vision by adaptively creating trust and controlling access between data, applications, devices, and users."