WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN) announced today the launch of the Industrial Internet of Things (IIoT) chip embedded with cryptographic Root of Trust (RoT) and problem-solving Artificial Intelligence (AI) solutions as part of its Vertical Platform. WISeKey’s IoT cybersecurity Vertical Platform allows IoT devices to organize themselves into trusted networks based on mutual authentication, identity and integrity.
This new technology enables IoT connected devices which can provide a recognized identity and a valid integrity report to communicate with peer devices within the community.
This new capability will enable authenticated sensor data. Currently, most IoT devices are not built with embedded secure systems, which makes these devices vulnerable to exploits. By integrating Artificial Intelligence (AI) into the IoT hardware and platform, objects connected to the Vertical Platform can develop their own cybersecurity behavior and make smarter and safer decisions.
Objects secured with these IIoT chips produce a huge amount of Big Data that when analyzed with AI can help industrial applications to predict the failure of their equipment before it happens. The WISeKey platform allows the IoT device equipped with these chips to send authenticated data to the cloud using a dual factor authentication at the device level. Imagine a smartcard sending authenticated data of each component of the car to predict when these parts will require maintenance and to digitally sign all the logs required to prove that service was provided. This platform which can be used in different industrial applications allows optimized productivity across industries through predictive maintenance on equipment and machinery, creates truly smart homes with connected appliances and provides critical communication between devices including self-driving cars and smart homes. The possibilities that IoT brings to the table are endless.
WISeKey’s technology creates a platform that helps connected devices to become intelligent devices that can learn from attacks, defend themselves, and transfer this intelligence to other devices in the network.
Additionally, WISeKey’s technology provides smaller IoT manufacturers that do not have the resources or expertise to perform thorough security analysis of their products will the ability to adopt this platform, reducing the number of unprotected products that are released to consumers.
Carlos Moreira, founder and chief executive of WISeKey said: “This new platform opens up many possibilities for improving the overall security functionalities and creating new business processes by taking advantage of the world of digital identification at the object level, which once combined with Big Data allows us to gather and process all available information and generate actionable insights.”
Mr. Moreira added, “We call this new technology Trust of a Chip (ToC), which offers a full integration of several key security elements on the chip instead of installing and testing these security elements separately on the device. This integration reduces the size of the chip, lowers the cost and increases the level of security as no one can externally access and manipulate the integrity of these chips.
“The ability to authenticate and remotely manage millions of networked, automated devices and equipment is becoming pervasive − from factory floors, to hospital operating rooms, to residential homes – including billions of objects and devices from refrigerators, watches, wearables to wine bottles – everything that can connect and communicate via the Internet.”
The IoT security market is expected to grow from $6.89 billion in 2015 to nearly $29 billion by 2020 according to a report published by Markets and Markets, thus growing at an annual rate of 35%. These massively deployed connected objects are facing regular attacks hence generating a large need for trusted end-to-end cybersecurity solutions. This problem is affecting billions of people and IoT devices worldwide, and manufactures of these devices could be forced or incentivized to spend money to make their devices secure, as regulators might impose liabilities on them.
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
WISeKeyCompany Contact:Carlos MoreiraChairman & CEO
Tel: +41 22 594 3000
WISeKey Investor Relations (US)Contact:Lena CatiThe 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.