WISeKey and OISTE.ORG announce a unique new Global RoT for IoT designed to protect people against threats on the Industrial Internet and boost WISeKey’s IoT sector revenue
ZUG, GENEVA, Switzerland- November 21, 2017- WISeKey International Holding Ltd (WISeKey) (SIX:WIHN), a leading Swiss cybersecurity and IoT solutions company, unveiled its new RoT for IoT technology, a unique offering that combines all the hardware, software and Trust Model required to take the IoT security to a new level.
The IoT industry has become a game changing new business opportunity for WISeKey. An estimated 50 billion IoT devices are expected to be connected by 2020, while world’s population is estimated to grow to 6.8 billion; thus, there will be more than 7 IoT devices per person connected to the internet by 2020. Global spending on IoT/IoE technology-based services is now expected to reach $3 trillion by 2025 and WISeKey is well positioned to take advantage of many significant opportunities in this large market.
Recent agreements for WISeKey in this segment include partnerships with global organizations to secure IoT devices and the increasing amount of sensitive data exchanged between these devices. The IoT chips produced by WISeKey allow companies to provide users with applications designed to offer increased control over the use of resources, improve efficiency, optimize processing of information, secure autonomous vehicles, and improve public safety. In the United States, WISeKey’s chips secure and authenticate over 10 million routers using unique Secure Certificate based IDs and encryption (SSH) keys. This technology is also used in closed-circuit TV (CCTV) or DVR devices and satellite antenna equipment.
Our recent agreements and expansion in China, the European Union and the United States have positioned WISeKey as a major player in the Semiconductors IoT market, a business segment that is expected to generate revenues of approximately $32 million for WISeKey in FY2017. We expect revenue growth for this segment to accelerate in FY2018.
The new Global Root for IoT is a major milestone for the Company as in cryptographic systems with hierarchical structure, a RoT, or trust anchor, is an authoritative entity for which trust is assumed and not derived. OISTE WISeKey’s Swiss based cryptographic RoT and IoT Secure Semiconductors provides secure authentication and identification, in both physical and logical environments, this OISTE WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people.
For the IoT, RoT serves as a device component inherently trusted by the device firmware able to perform critical operations as software validation, key protection or device authentication. WISeKey provides a full suite of secure microcontrollers, such as VaultIC and MicroXsafe, that act as secure elements in an IoT device. WISeKey’s chips are designed to protect critical device operations like secure boot, code signing, firmware update validations, protect the device identity and authenticate and encrypt its communications over the IoT network.
WISeKey’s ability to provide an integrated solution that combines a Globally Recognized RoT with hardware trusted chips is something unique in the industry. This combined solution is accredited with the highest certifications for trusted products, including Common Criteria and FIPS for the secure elements, Webtrust and eIDAS for the trust services, and ISO 27001 and ISO 9000 for the security and quality management.
WISeKey’s comprehensive RoT and IoT solution combined with WISeKeyIoT software platform that secures communications among the IoT devices and business applications, is complemented with Blockchain and Artificial Intelligence (AI) to secure and exploit the data received by the platform.
WISeKey’s technology is built based on the understanding that technology shall serve people and not vice versa. All our codes, crypto-algorithms, chips, patents and products are developed following these principles:
Access. To fully reap the benefits of digitalization and technology, all humans must have quality access to connectivity. Governments shall be committed to the expansion of next-generation smart infrastructure, and establish principles of technological neutrality, through a simplified, market-oriented, and transparent regulatory environment, and through incentives to invest in less profitable areas, as well as by fostering investments for skill and capacity building.
Privacy. Securing the privacy of every human being is paramount to realizing the full potential of our future. Therefore, personal data conveyed over the Internet or stored in devices connected to the Internet is owned and solely governed by the individual. It is paramount to protect all citizens in the all-digital age. AI systems should use tools, including anonymized data, de-identification, or aggregation to protect personally identifiable information whenever possible.
Security. An array of emerging digital threats may harm citizens. Users must trust that their personal and sensitive data is protected and handled appropriately. We strongly support the protection of the foundation of AI and other technologies, including source code, proprietary algorithms, and other intellectual property. We believe governments should avoid requiring companies to transfer or provide access to technology, source code, algorithms, or encryption keys as conditions for doing business. We encourage governments to use strong, globally-accepted and deployed cryptography and other security standards that enable trust and interoperability. We also promote voluntary information-sharing on cyberattacks or hacks to better enable consumer protection.
Consent. Respecting the authority and autonomy of every human being is paramount to realizing the full potential of our future. Therefore, personal digital data will not be used as research, rationale, enticement or commodity by any entity or individual, except with the explicit, well-informed, revocable consent of the individual owner of the data.
Ethics. Improving the human condition is paramount to realizing the full potential of our future. Therefore, a universal code of ethics reflecting the highest order of human values will govern the development, implementation, and use of technology.
Future-proof Skills. Advancing human faculties is paramount to realizing the full potential of our future. Therefore, to that end, the secure, approved, and accountable aggregation of personal information and resources to increase our individual abilities is a fundamental objective of technology.
Good. Advocating and innovating the greatest good for all humanity is paramount to realizing the full potential of our future. Therefore, technology, no matter how advanced, will never supersede the spiritual purposes or the moral rights and responsibilities of any human being anywhere. Technology will serve humanity’s needs.
Democracy. Democratizing human vision, ingenuity, and education is paramount to realizing the full potential of our future. Therefore, technology will remain humanity’s greatest collaborator but never represent humanity itself.
These are the principles on which WISeKey Vertical Platform operates protecting people. These principles put WISeKey apart from its competitors as they act as safeguard to protect people against the threats on the Internet.
“The use of the term ‘Root of Trust’ is sometimes purposely abused by companies that only do PKI or by the ones that only do semiconductors. WISeKey is the only player that combines both and proposes a truly integrated ‘Root-to-Chip’ solution thanks to our Worldwide accredited OISTE Trust Model, Root Certification Authorities, IoT software platform and our secure microcontroller for IoT portfolio, conforming a unique global offering that no other vendor can offer,” said Carlos Moreira, Founder and CEO of WISeKey.
WISeKey (SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying via a Virtual Platform large scale digital identity ecosystems. WISeKey portfolio includes a worldwide recognized Root of Trust Digital Identity products and services to identify persons, applications and objects, and a unique offering of Secure Microcontrollers for IoT Devices. 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.
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