General Electric to invest in blockchain cybersecurity project

Verified
4 months ago
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The General Electric corporation’s investment branch is engaged in fundraising campaign of Xage, a blockchain-based platform for industrial Internet of Thing. 12$ series A investment was announced yesterday. The GE representatives consider this project to be “innovative” and promising.

The startup is using blockchain to ensure safety of connections within their IoT system. Xage is based in Palo Alto, USA and is lead by Duncan Greatwood, a former executive at Apple.

The General Electric company seems to be favorable towards blockchain: their subsidiary GE Transportation recently became a member of Blockchain in Transport Alliance.