WISeKey incorporates WISeCoin AG in Zug to build the cryptographic infrastructure required for secure intra object interactions and transactions
Geneva, Zug - 8, August, 2018: WISeKey International Holding Ltd (WIHN.SW) ("WISeKey"), a leading global cybersecurity company announced today the successful incorporation of WISeCoin AG in Zug. WISeCoin AG is a Special Purpose vehicle created by WISeKey in Zug to build the infrastructure for secure intra object interactions and transactions.
WISeCoin, powered by WISeKey Semiconductors and secured by WISeKey Root and PKI, offers connected objects the ability to identify each other with the objective to initiate, establish and complete secure transactions for every-day items. Each connected object is equipped with WISeKey's Secure Element consisting of a tamper resistant silicon chip, called VaultIC184. This technology, based on a state-of- the-art secure microcontroller, allows device manufacturers an easy integration of the chip, and is offered as a provisioning service to transfer the burden of device personalization to WISeKey's secure Personalization Center. It is a next-generation technology designed from the ground up to be the data and value transfer layer for the Machine Economy. WISeCoin benefits from the WISeKey architecture as the first and only vertically integrated platform combining proprietary cybersecurity software and secure semiconductors for the Internet of Things ("IoT") to protect increasingly connected devices against persistent and evolving cyber threats. WISeCoin combines a range of microchips with software applications that cater to our customers' specific business and security needs. The software solution is driven by proprietary technology, such as Root of Trust ("RoT") and Public Key Infrastructure ("PKI"), that enables our clients to effectively manage their digital identity, information, and communications in a single integrated platform. RoT enables us to secure electronic information through our digital certificate technology. Our PKI services deploy digital certificates used for encryption, creating tamperproof electronic "fingerprints". We enable our clients to adapt to an evolving device landscape without compromising their digital security. WISeKey is already testing WISeCoin cryptocurrency, as a method of identification and payment between connected objects and on cars, allowing these cars to pay for electricity, gas and parking through the integration of WISeCoin crypto wallets at the Secure Element Chip level.
To empower a seamless cryptocurrency enabled for IoT connections, WISeCoin is supplemented with highly secured solutions such as biometrics-driven hardware wallets, integrated exchange platforms, MicroChips Blockchain enabled semiconductors, and NFC-based contactless payment solutions.
Moreover, VaultIC405S, a versatil flavor WISeKey's security module complements the WISeKey offer and is a perfect solution for companies providing multi-network IoT solutions requiring a state-of-the- art security coverage on all network types to execute cryptocurrency payments between connected objects. Designed for low cost, power and surface constrained devices, it provides industry standard I2C connectivity, very low power consumption and a very small footprint. The hardware interface is based on combining efficient microcontrollers to so called crypto-accelerators, while the software interface connects this combination to the web, mobile phones, reader systems and radio frequency systems like NFC, Bluetooth, ZigBee and low power wide area networks.
WISeKey has built one of the most innovative smart tags in the industry. Its VaultIC 15x series is delivering asymmetric key algorithms in energy harvesting mode. Since crypto-chips can operate without batteries, using only the energy of induction field of a mobile phone with NFC capability, it is easy and convenient to embed them into any device, thus protecting their authenticity and provenance. Extending the capability of the VaultIC with industrial bus systems like I2C, SPI, UART solves all critical issues of machine identity related to IoT, sensor and actuator networks, smart city, smart plans, etc.
VaultIC184 and VaultIC405S are part of WISeKey's global end-to-end scalable security framework WISeKeyIoT, a Public Key Infrastructure based overall response system designed to mitigate the ever-increasing risks of cyberattacks in IoT. Securing vulnerable IoT devices, from security cameras to smartphones, is essential to allow these connected devices to perform secure cryptocurrency payments. Unsecure connected devices can be hijacked by hackers and turned into tools to mine cryptocurrencies, and the computing power of all these gadgets can be used to mine the digital coins.
WISeCoin AG and Blockchain Valley Ventures (BVV), a Swiss-based accelerator and venture firm incubating, developing and investing in blockchain-enabled businesses, have partnership to launch the Initial Coin Offering (ICO) of WISeCoin in Switzerland (https://youtu.be/Np9c9aAjOrM). BVV, a spin-off of Lykke Corporation, will provide advisory services to launch the WISeCoin ICO in Switzerland. The WISeCoin token will be available for trade on the Lykke Exchange as soon as the regulatory process is completed. This listing is a significant development for WISeCoin, that will use Switzerland as a base for its global deployment.
About WISeKey WISeKey (SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems with a patented process. 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 on-line transactions among objects and between objects and people.
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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 article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. 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.
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