WISeKey defines its ICO for the WISeCoin Cryptocurrency
Geneva, Switzerland – April 5, 2018 – WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN), a leading cybersecurity and IoT company announced that it will launch its WISeCoin in Q4 2018. WISeCoin will be funded by an Initial Coin Offering (ICO) with forthcoming private pre-sales starting in Q3 2018. Demand for WISeCoin is expected to be high as WISeKey is a well-established cybersecurity IoT platform with over 4,000 large enterprises already using its technology and the OISTE Cryptographic RoT which has been actively used since 1999 by over 2.6 billion desktops, browsers, mobile devices, SSL certificates and IoT devices. To date, WISeKey has raised $4 million in convertible debt for the pre ICO of WISeCoin and is considering a potential total WISeCoin utility token in the range of between $50 million to $100 million, subject to demand and market conditions.
The WISeCoin development team inherits WISeKey Semiconductors R&D and expertise with more than 25 years’ experience delivering secure hardware modules, semiconductors, RoT, Crypto keys, crypto wallets and digital identities that protect sensitive data for governments and private corporations in 75 countries. Among other applications, WISeKey’s chips are widely used by global telecommunication, manufacturing and healthcare organizations as well as by bank cards. The same certified technology is now available in WISeCoin embedded VaultIC lightweight hardware security modules. WISeCoin VaultIC chips’ cryptographic security is a powerful anti-counterfeiting tool used to identify and authenticate any item online using a contactless Near Field Communication (NFC) technology through an Android or Apple iOS based smartphone.
WISeCoin ICO will be based on a strict due diligence and admissions process, as well as a high-quality digital asset exchange. The WISeCoin technology and WISeCoin Hardware Wallet was introduced to the attendees of the Davos Blockchain and Cryptocurrency Gathering, who received a WISeCoin Wallet, a contactless hardware enabled wallet designed to offer security and ease of use for cryptocurrency users.
WISekey Blockchain technology has triggered innovations in many countries since its introduction in 2016. Today, cryptocurrencies have become a global phenomenon, so much so that even central banks are trying to create their own cryptocurrency systems. To this end, WISeKey is helping private and public customers around the world to create their own cryptocurrency with WISeCoin, a cutting edge Blockchain identification platform for people and IoT objects, a revolutionary design and state-of-the-art cryptographic security system.
To empower a seamless cryptocurrency enabled economy, 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. WISeKey’s goal with WISeCoin is to become an emerging powerhouse in the global cryptocurrency market by supporting the development of economies built on Blockchain technology.
WISeCoin can also be used to identify and protect objects against counterfeiting and allows Connected Objects to complete transaction using a first-of-its-kind IoT Cryptocurrency Smart Payment solution. WISeKey has already tested this technology on luxury products by integrating its Secure Element at the chip level, thus analog watches can execute secure cryptocurrency transactions and connected cars secured by WISeKey can pay for electricity, gas and parking. (http://www.the-blockchain.com/2018/04/02/wisekey-crypto-solution-lets-connected-objects-pay-with-wisecoin/ )
Each connected object is equipped with WISeKey’s Secure Element, called VaultIC184, consisting of a tamper resistant, easy to integrate silicon chip, based on a state-of-the-art secure microcontroller, thus transferring the burden of device security to WISeKey’s highly secure Personalization Center. WISeCoin can become a payment alternative for the new decentralized IoT ecosystem payment economy.
The WISeCoin technology is currently being tested in several industries (such as connected cars, commodity trading, pharma, food security, and tobacco) and during the next 6 months will be used in selected case studies that are currently using the WISeKey PKI and Blockchain technology, and then will be gradually offered to the market globally.
Providers of Digital Identities for people and objects, and members of the WISeKey Cryptographic Platform will be rewarded with WISeCoins for concluded transactions and will be able to use WISeCoins to acquire products and services from other members of the WISeKey platform creating a trusted ecosystem in accordance with countries’ regulatory frameworks.
WISeKey is the only vendor in the industry providing an integrated PKI Blockchain, Crypto currency solution that combines a back-end certificate and device management system with a hardware RoT, a Secure Element (highly secure crypto chip) that protects the digital identity and certificates, to bring trust to the transmitted data through secure authentication of the device and related encryption of the data channel. This mechanism which creates and deploys digital certificates, as well as a “Security Broker” that manages communications by verifying the security level of the messages and implementing security and business rules (such as renewing certificates, managing attributes and other key capabilities) make a real difference when deploying securely to large numbers of connected devices.
WISeKey’s Blockchain Digital Identity technology was selected by BBC as one of the Five African tech trends to look out for in 2018 – http://www.bbc.com/news/world-africa-41899173. WISeKey’s cryptographic RoT empowers IoT manufacturers and chipmakers to add digital identities certificates to their chips at the hardware level to encrypt communication and authenticate the devices on Blockchain.
WISeKey has combined WISeCoin with its CertifyID (https://account.wisekey.com) integrating Digital Identity with Blockchain technology. CertifyID acts as a Digital Identity dual factor authentication based technology that sits on top of a Blockchain. The CertifyID Blockchain is constantly growing as new blocks are added to it with a new set of recordings. Each CertifyID node gets a copy of the CertifyID Blockchain and gets downloaded automatically upon joining the CertifyID network. The system is completely decentralized and can be operated on a national or local level by using a distributed identity ledger run by trusted parties and spread across the Blockchain.
At the heart of the WISeCoin deployment is the OISTE Cryptographic Root of Trust which has been actively used since 1999 in over 2.6 billion desktops, browsers, mobile devices, SSL certificates and Internet of Things’ devices. The OISTE WISeKey Cryptographic Root of Trust is ubiquitous and universal, and a pioneer in the creation of Digital Identities.
See also: WISeKey Unveils its Digital Identity BlockChain Platform CertifyID in NYC; State-of-the-Art Technology is in line with the UN Sustainable Development Goals to Provide Every Person on the Planet with a Legal Digital Identity by 2030
About OISTE Foundation:
The OISTE Foundation has been working with the UN and other governmental and non-governmental international organizations since 1998. Today, in line with the United Nation’s Sustainable Development Goals, target 16.9 – giving everyone a legal identity by 2030 – OISTE focuses on the challenge of harnessing digital identity for the global community. OISTE holds special consultative status with the Economic and Social Council of the UN (ECOSOC) and is an accredited member of the Non-commercial Users Stakeholders Group (NCSG) of ICANN as part of the Not-for-Profit Operational Concerns (NPOC) constituency. The OISTE Foundation endorses the “Principles on Identification for Sustainable Development.” oiste.org
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 online transactions among objects and between objects and people. For more information, visit www.wisekey.com.
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
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.