OISTE.ORG and WISeKey’s Anti-Illicit Trade Blockchain Platform supports WHO’s Protocol to Eliminate Illicit Trade in Tobacco Products
Geneva, Switzerland, October 2, 2018: WISeKey International Holding Ltd (“WISeKey“, SIX: WIHN, OTCQX: WIKYY), a leading cybersecurity and IoT company announced today that its Anti-Illicit Trade Blockchain Platform will support WHO’s Protocol aiming to eliminate illicit trade in tobacco products.
The Conference of Parties at the WHO Framework Convention for Tobacco Control (FCTC) opens its eighth session (COP8) this week in Geneva, with a purpose of defining a roadmap for strengthening and expanding the scope of the landmark global health treaty.
The COP8 discussions (October 1 – 6) bring together delegations from 137 countries, along with representatives of United Nations agencies, other intergovernmental organizations and civil society.
On June 27 the conditions for the entry into force of the first legally binding instrument adopted under the Protocol to Eliminate Illicit Trade in Tobacco Products (the Protocol) have been met, making this historical moment an important milestone in the battle against illicit trade. A natural extension of the Convention, the Protocol presents a comprehensive set of tools to fight illicit trade, among them, the establishment of a tracking and tracing system, as well as measures to promote international cooperation, including sanctions and other law enforcement measures. The First Session of the Meeting of the Parties (MOP1) to the Protocol is set to take place in Geneva from October 8 to 10, immediately after COP8.
In decision FCTC/COP7(6) entitled Status of the Protocol to Eliminate Illicit Trade in Tobacco Products, the Conference of the Parties, decided to intensify the work of the Panel of Experts on the Protocol , which should be developing proposals for consideration at MOP1 as to the future work in the area of fighting illicit trade, including the initial thoughts on the structure of a global information-sharing focal point.
Today, illicit trade has become a major contributor to discrepancies in wealth between the developing and developed world, while fueling devastating conflicts and undermining the legitimacy of countries. In fact, counterfeiting is the conduit that supports destabilizing and dangerous activities in nearly every sphere of the global economy. From the illegal export of protected commodities, to the use of supply lines by terrorist groups and transnational criminal networks, counterfeiting and illicit trade hinders the fundamental building blocks of development, democracy, human rights and rule of law. It enables corrupt practices among government officials and private citizens alike. The value of illicit trade globally rivals the individual GDP of most members of the G8.
WISeKey’sWISeAuthentic Blockchain, provides protection against illicit trade through a trusted private blockchain in a closed user group environment, and strong cybersecurity technologies combined with IoT traceability.
“WISeKey has long been recognized as a leader in providing luxury and other product manufacturers with reliable means to protect their products against illicit trade, and we are now expanding this offer to the tobacco industry,” said Carlos Moreno, VP Corporate Alliances and Partnerships.
Mr. Moreno, added, “Blockchain technology can be very effective as the trusted cloud-based ledger ensures that the identity of the product can’t be duplicated, manipulated or faked, and increased visibility in parts of the supply chain promotes an unprecedented level of trust. It means governments can better protect citizens, while business partners can be certain trading documents are real. Consumers can check the quality and provenance of products, and banks can reduce processing time. And, it’s all paperless. Combining the blockchain technology together with our WISeAuthentic PKI platform, leverage even further the unified way to shield these brands from the harmful effects of illicit trade, while enhancing transparency into their end consumers and the entire ecosystem.”
WISeKey and OISTE.ORG has over 20 years of experience fighting illicit trade and developing a holistic technology approach to effectively combat the problem.
About OISTE FOUNDATION
Founded in Switzerland in 1998, OISTE was created with the objectives of promoting the use and adoption of international standards to secure electronic transactions, expand the use of digital certification and ensure the interoperability of certification authorities’ e-transaction systems. The OISTE Foundation is a not for profit organization based in Geneva, Switzerland, regulated by article 80 et seq. of the Swiss Civil Code. OISTE is an organization in special consultative status with the Economic and Social Council of the United Nations (ECOSOC) and belongs to the Not-for-Profit constituency (NPOC) of the ICANN. http://www.oiste.org/.
WISeKey (SIX: WIHN; OTCQX: WIKYY) 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.
| 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
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