WISeKey’s WISeToken Utility Token, a Blockchain-Based Asset for Machine-to-Machine Interactions is Now Integrated into the Oracle Blockchain
WISekey has been working with Oracle since April 2019 when it became one of its first external trusted identity providers
Carlos Moreira, Founder and CEO of WISeKey introduced the technology at Oracle’s March 4, 2021 webinar “Time of Modern Finance: How AI Changes the Rule of the Game for Finance”
Geneva – March 5, 2021 – WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN / Nasdaq: WKEY), a leading cybersecurity, AI and IoT company, today announced that it has integrated its WISeToken utility token, a blockchain-based asset, to be used by drones and robots to secure IoT interactions (drone-to-drone or people-to-drone) and to recognize and trust each other, into the Oracle blockchain.
The WISeKey Validation Service (the certificate’s validation authority), using the WISeKey Public Key Infrastructure, analyses WISeToken digital certificates to recognize and trust the identity of connected machines such as drones and robots when they interact with each other, and mitigate malicious actors and hackers from compromising these interactions.
WISeTokens are sold directly by WISeKey as utility tokens and generate revenue as a hybrid product/service offering. WISeTokens are not listed on secondary markets and are sold on a fixed price basis thus are not subjected to price fluctuations.
The WISeKey Validation Service offer objects the ability to send to the validation authority the third party’s public key and the digital certificate for validation. WISeKey checks that the corresponding public key holds a valid WISeToken and if so, the identity is verified. In order to receive the verification, the object making the request must hold at least one WISeToken in its wallet, which is valid for 12 months or 100 requests. WISeKey can, over time, adjust the number of utility tokens required to get verified, longevity of the token and entitled verifications per token.
The WISeKey Validation Service is used to verify the authenticity of the object’s digital identity in real time, thus ensuring secure use of digital identities for authentication of any object connected to the internet and the activation of attributes such as digital signing, transactions, or data transmission.
WISeKey’s platform is blockchain neutral and allows blockchain configurations to benefit greatly by the use of secure private keys instead of public keys currently used. Private keys secure data and transactions, which can be only conducted between authenticated parties – thus making it a very viable option for any sort of IoT transaction imaginable. Objects equipped with WISeKey’s Secure Element, called VaultIC184, consists of a tamper resistant silicon chip, based on a state-of-the-art secure microcontroller chip, which can be easily integrated to the device by its manufacturers.
For more information on WISeKey’s IoT security offerings please visits: https://www.wisekey.com/solutions/iot-connected-devices/iot-security/
WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey microprocessors secure the pervasive computing shaping today’s Internet of Everything. WISeKey IoT has an install base of over 1.5 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens etc.). WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors produce a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications to predict the failure of their equipment before it happens.
Our technology is Trusted by the OISTE/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.
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