Inpixon (NASDAQ:INPX) is another company emerging that will get you that blockchain fix you need. INPX was up as much as +40% early in the week, but has given most of it back. INPX hovered above the $0.75 cent mark last year, so with the blockchain fervor in full-effect, this stock has room to grow. Recent news from the company laid out plans to use blockchain to enable security by developing a repository for device reputations. In addition, and this is another reason to watch, INPX has more news on the horizon with artificial intelligence and other technology enhancements for its existing portfolio, so it sounds like press could be steady.
“The use of blockchain technology is one of several strategic product development plans we have for 2018 that we believe will modernize Indoor Positioning radically,” said Nadir Ali, CEO of INPX. “With the use of blockchain technologies for various applications, including security enforcement, payment authorization, identity verification, and access authentication, the INPX IPA platform which provides accurate indoor positioning context for millions of devices will be able to offer unique device reputation.”
Inpixon (NASDAQ:INPX) formerly Sysorex Global, provides data analytics and location-based solutions and services to commercial and government customers across the world. The Company operates through four segments: Mobile, IoT & Big Data Products, which includes its AirPatrol product line and on-premise big data appliance product; Storage and Computing, which includes third-party hardware, software and related maintenance/warranty products and services that the Company resells; SaaS Revenues, which provides software-as-a-services or Internet-based hosted services, and Professional Services, which offers general information technology (IT) services. Its products and services include LightMiner Analytics Platform, Data Science and Advanced Analytics Consulting Services, AirPatrol for Security, AirPatrol for Retail, Shoom Product Line, Enterprise Infrastructure Solutions and Services, and IT Services.
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INPX, according to the company, believes that the use of blockchain in connection with its Indoor Positioning Analytics (IPA) platform will lessen overall risk for retailers by creating a self-managing payment platform that will deliver value and reward its customers for loyalty, while also reducing threat by layering device reputation onto simple account management. Blockchain technology allows for the rapid identification and quarantining of mal-devices to prevent fraudulent transactions with the potential to protect millions of dollars.
For enterprise security, where the burgeoning use of the Internet of Things (IoT) is exposing businesses to unaccounted amounts of threat, the use of blockchain technologies in our IPA will assist to maintain and propagate device reputation, enforcing security policies and attaining compliance. One of our objectives in 2018 is to incrementally develop and append IPA’s on-premise components and maintain blockchain certificate stores for use across installations globally.
Inpixon (NASDAQ:INPX) has a market cap of $7.36M and 23.36M in outstanding shares. INPX is seeing a significant influx of volume on this news as well with increases over a 5-day span at 50%. We will be writing more updates as news comes out here. Sign-up for continuing coverage on shares of $INPX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $INPX, either long or short, and we have not been compensated for this article.