Blockchain, General Electric invests in a cyber security startup

The Financial Times says Xage, a cyber security startup based in Palo Alto (California), converted to Blockchain to apply the technology to the oil industry. The goal is to protect the links between the oil wells and the meters. The activity is carried out remotely through the authentication of each machine used in the refining phase.
Duncan Greatwood, CEO of the startup, confessed the urgency of implementing the security of production processes to make them invulnerable to hacker attacks. Without the Blockchain, companies often pay $ 1,000 for the on-site intervention of employees to change device passwords after a pirate attack.
One of the investors is GE Ventures (General Electric group).