Inpixon (NASDAQ:INPX) reported that it will use blockchain to advance an international repository of device reputations to assist enterprise security and retailers reduce rogue-device risk proactively. The company considers that the application of blockchain pertaining to its Indoor Positioning Analytics platform will lessen risk for retailers by establishing a self-managing payment base that will offer reward and value its customers for loyalty, while even lowering threat by layering device status onto simple account management.
Blockchain technology enables for the rapid quarantining and identification of mal-devices to prevent fraudulent deals with the prospective to protect considerable funds. For enterprise security, where the growing use of the Internet of Things is exposing companies to unaccounted amounts of threat, the application of blockchain technologies in Inpixon IPA will help to maintain and spread device reputation, attaining compliance and enforcing security policies. One of company’s objectives in this year is to incrementally append and develop IPA’s on premise components and keep blockchain certificate outlets for use across installations internationally.
Nadir Ali, the CEO of Inpixon, expressed that the application of blockchain technology is one of numerous strategic product development programs they have for 2018 that they consider will modernize Indoor Positioning considerably. With the application of blockchain technologies for different applications, including payment authorization, identity verification, access authentication and security enforcement, the Inpixon IPA platform which offers precise indoor positioning context for several devices can provide device reputation.
In the imminent few weeks, Inpixon plans to introduce several other technology improvements for its 2018 product roadmap counting the use of artificial intelligence for gathering anonymous device information, allowing next-generation sensor technology and voice-assisted analytics interface.
In the last trading session, the stock price of Inpixon declined more than 7% to close the day at $0.335. The decline came at a share volume of 7.82 million compared to average share volume of 6.10 million.