Xped signs contract to build IoT security device – PACE
Under the agreement, Xped will develop a new cryptographic Physical Security Token (PST), which is a hardware security device that provides authentication and encryption.
Xped will use the PST to provide authentication of its gateways and encryption of data from the devices attached to them, allowing the Company to serve significant new and expanded markets that require secure IoT solutions. Xped is not planning to undertake a coin or token offering.
“With this contract and new security token, Xped can pursue opportunities in new and higher value markets such as governments and utilities” said Christopher Wood, CTO and executive director 0f Xped.
“Xped’s XIP ecosystem is a hardware-secured IoT platform that serves, residential, commercial and industrial customers,” Wood said.