The Internet of Things (IoT) certainly has its advantages, but also brings with it massive security issues. This is because the networked devices communicate automatically, and ultimately unchecked, and perform automated processes based on this communication. One example here would be freight containers, which navigate to their destination independently. They provide an attractive target for criminals, who reroute the containers to other destinations by manipulating the data communication, while, according to the dashboard, the freight continues to appear to be following the relevant mapped-out route.
To counteract these and similar risk scenarios, Californian start-up Xage Security has developed a security solution based on a blockchain. The young company is establishing a trusted network of people, machines, and applications on its platform and blocking unauthorized access to this, whereby the blockchain acts as a distributed, redundant, and tamper-proof data repository. Xage is leveraging a unique feature of blockchain technology here: Unlike with other systems, more devices means more security, not less. This makes the security platform from Xage especially suitable for the IoT. The rules for the individual objects – for the communication module of a freight container, for example – come from the cloud and can be configured locally.
The system from Xage Security was launched on the market a few weeks ago. Its first customers include ABB and Itron , an American producer of smart meters that wants to use Xage’s platform to secure its devices.