Press Release: WISeKey's SEALCOIN Project Leverages Hedera DLT: Invites IoT Companies to Perform Proof of Concept (PoC) for Transactional-IoT (t-IoT) Technology
WISeKey's SEALCOIN Project Leverages Hedera DLT: Invites IoT Companies to Perform Proof of Concept (PoC) for Transactional-IoT (t-IoT) Technology
For more information see PoC video: https://youtu.be/daOvoOxqGvQ
Geneva -- September 11, 2024 - WISeKey International Holding Ltd. ("WISeKey") (SIX: WIHN, NASDAQ: WKEY), a leader in cybersecurity, AI, Blockchain, and IoT operating as a holding company, is inviting companies to participate in a groundbreaking machine-to-machine PoC for its innovative t-IoT technology, codenamed Project SEALCOIN. This PoC aims to showcase the transformative potential of SEALCOIN by demonstrating the disintermediation of service providers in interconnected devices, allowing them to communicate and transact autonomously. The result is a streamlined process that enhances efficiency, reduces costs, and creates a more seamless IoT ecosystem.
At the core of this PoC is the use of cutting-edge technology embedded within semiconductor devices, which autonomously validates and verifies transactions. SEALCOIN features a Secure Element--an embedded security hardware that protects the private key and certificate representing each device's unique identity. Leveraging elliptic curve cryptography (ECC), compatible with Hedera's Decentralized Ledger Technology (DLT), these devices can simultaneously authenticate and sign transactions on-chain, ensuring security and transparency in real-time.
Earlier this year, WISeKey established SEALCOIN AG, a Special Purpose Vehicle (SPV), to house and advance the SEALCOIN decentralized technology project. Following the successful launch of PoC, the Company is now focused on the launch of a Minimum Viable Product (MVP) by Q4 2024. This platform will serve as a comprehensive solution for secure, autonomous device interactions within the IoT ecosystem. By enabling devices to transact directly with each other, SEALCOIN effectively removes intermediaries, paving the way for a more efficient and cost-effective future for IoT.
Carlos Moreira, WISeKey's CEO, noted, "SEALCOIN PoC is a major milestone in our journey toward enhancing the capabilities of our t-IoT technology. We are excited about our plan of delivering the MVP later this year and continuing to explore new possibilities that will further advance our mission of creating a safer, more interconnected world. As SEALCOIN leverages Hedera's robust DLT infrastructure, known for its high performance, security, and stability, this project is set to set new standards in the IoT landscape."
The successful execution of this PoC reinforces SEALCOIN's commitment to innovation, particularly in the areas of device security, autonomous transactions, and seamless on-chain interactions. This breakthrough in IoT technology, combined with the advanced security measures embedded in the Secure Element, marks an important step toward reshaping the future of the IoT landscape. For more information, interested parties can view the video presentation https://youtu.be/daOvoOxqGvQ.
About WISeKey
WISeKey International Holding Ltd ("WISeKey", SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.
Each subsidiary contributes to WISeKey's mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company's semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey's strategic direction and its subsidiary companies, please visit www.wisekey.com.
Disclaimer:
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.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act ("FinSA"), the FinSa's predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.
Press and investor contacts:
WISeKey International Holding WISeKey Investor Relations (US) Ltd The Equity Group Inc. Company Contact: Carlos Moreira Lena Cati Chairman & CEO Tel: +1 212 836-9611 / lcati@equityny.com
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