Bilwee selects WISeKey's WISeID technology to help Argentinian companies safely complete business transactions using the IBM Blockchain Technology Hyperledger
Geneva - November 11, 2020 - WISeKey International Holding ("WISeKey", SIX: WIHN, NASDAQ: WKEY), a leading cybersecurity and IoT company, signed a collaboration agreement with Bilwee, an Argentina based automatic collection and payment management platform company, which has developed a platform that provides Argentinian companies the ability to maintain cash flow and liquidity through the cancellation of debtor invoices. Through this agreement, using WISeKey's WISeID digital identification and security platform, companies will be able to protect their transactions carried out in it, which consist of uploading invoices to the cloud and safely complete payments to then be canceled between debtors and creditors.
Argentinian companies use Bilwee's digital platform to settle their debts without the need of making any cash payments. The strategic collaboration with WISeKey, through the integration of the WISeID digital identity platform, adds a high level of security to these transactions. WISeKey's cryptographic Root of Trust offers companies the ability to carry out secure transactions and also opens the way for the subsequent use of the IBM Blockchain technology Hyperledger, not only when these transactions are uploaded in the cloud but during at each transactional stage. Through the Bilwee registry, the platform carries out and safeguards thousands of monthly transactions.
"Our clients' data is our most precious asset, thus it is essential to be able to provide absolute protection for all of their transactional information. WISeKey's technology offers us the ability to safeguard our clients' data," commented Daniel Corrado, President and CEO of Bilwee Argentina.
"For a company like Bilwee, which is experiencing a considerable increase in users who carry out almost daily transactions, the joint development of a next-generation digital certification and securitization solution will provide a unique and highly secure way to protect transactions," said Carlos Moreira, Founder and CEO of WISeKey.
The benefits of this collaboration agreements become even more important during the COVID-19 pandemic as many companies affected by the global shutdown are now struggling to build recovery strategies and governments are working to re-open their economies.
WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey microprocessors secure the pervasive computing shaping today's Internet of Everything. WISeKey IoT has an install base of over 1.5 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens etc.). WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors produce a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications to predict the failure of their equipment before it happens.
Our technology is Trusted by the OISTE/WISeKey's Swiss based cryptographic Root of Trust ("RoT") provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people. For more information, visit www.wisekey.com.
Bilwee is an automatic collection and payment management platform for companies that has an innovative feature that is not involving money in the process. Bilwee allows you to accelerate the collections and payments of customers and suppliers without using money. allows you to cancel what a company owes against what they owe you. The developed system allows to reduce the risk of bad debts to the maximum, avoid the risks and the implicit costs of the use of checks, transfers and cash deposits, improve cash flow, avoid using the credit line and reduce administrative costs. With more than 15,000 hours of development, Bilwee's powerful processing and analysis engine allows classifying, ordering, relating and executing up to 1,000,000 payment and collection procedures per day. This tool allows companies to have real-time information on the management of their collections and payments. The Bilwee Argentina SA team has worked since mid-2019, together with the Bilwee development and support staff, to be able today to have a platform 100% adequate to the country's standards.
Bilwee aims to generate a sustainable payment chain for SMEs and large companies and the great challenge is to activate the economy.
Press and investor contacts:
WISeKey International Holding Ltd
Company Contact: Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
WISeKey Investor Relations (US)
Contact: Lena Cati
The Equity Group Inc.
Tel: +1 212 836-9611
Bilwee Argentina SA
Company Contact: Daniel Corrado
President and CEO
Tel: +54 9 11 5165-4874
Press contact from Bilwee
Contact: Eduardo Carini
Tel: + 54 9 11 6781-2306
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
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