Pass it forward

Xage, a startup that has been taking an odd route to secure bequest corporations like oil and gas and utilities with help from the blockchain, announced a new data protection service today.

Xage CEO Duncan Greatwood, says that up until this station, the company has concentrated on protecting customers at the machine layer, but today’s announcement involves protecting data as it roams between parties, which is more of a classic blockchain insurance scenario.

” We are moving beyond the protection of machines with greater focus on the protection of data. And this announcement around Dynamic Data Security that we’re delivering today is really a data protection layer that encompasses multiple features. So it spans from the physical machine layer right up to business transaction ,” Greatwood explained.

He says that what separates his corporation from adversaries is the ability to have that shelter up and down the load.” We can guarantee the authenticity, coherence and the confidentiality of data, as it’s produced at the machine, and we can maintain that all the way to[ bringing to the various gatherings ],” he said.

Greatwood says that this solution is designed to help protect data, even in very complex data sharing situations, utilizing the blockchain as the cartel mechanism. Imagine a supplying order scenario in which the parties are sharing data, but each participant exclusively needs to see the slouse of data they need to complete their one of the purposes of the busines and no more. To do this, Xage has the concept of security fabric, which acts as a blanket of defence across the platform.

” What Xage is doing is to use this kind of security outsource approaching we bring to authenticity, stability and confidentiality, and then using the fabric to replicate all of that security metadata across the extent of the fabric, which may very well cover multiple locations and multiple participates ,” he said.

This approach enables customers to have confidence in the predestination and stability of the data they are seeing.” We’re able to allow all of the participants to define a regulate of security rights public policies that contributes them domination of their own data, but it also allows them to share very flexibly with the rest of the participants in the ecosystem, and to have confidence in that data, up to and including the point where they’ll remunerate each other money, based on the integrity of the data .”

The new solution is available today. It has been in testing with three beta customers, which included an oil and gas customer, a utility and a smart city scenario.

Xage was founded in 2016 and has raised simply over $16 million, are in accordance with PitchBook data.

Read more: https :// techcrunch.com