SEALCOIN Technology Successfully Tested in Proof of Concept for Transactional-IoT M2M

/EIN News/ — Geneva, Switzerland, Aug. 05, 2024 (GLOBE NEWSWIRE) — For more information, watch this video presentation: https://youtu.be/daOvoOxqGvQ

WISeKey International Holding Ltd. (“WISeKey” or the “Company”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity and IoT company operating as a holding company, today announced the successful successful of its strong proof of concept (PoC) for Transactional-IoT (t-IoT) technology codenamed Project SEALCOIN. This milestone marks a major step towards cutting down service providers for connected devices, demonstrating the revolutionary potential of SEALCOIN’s innovative platform. Please note, WISeKey is in the process of establishing SEALCOIN AG, a Special Purpose Vehicle (“SPV”) to house its technology project, SEALCOIN.

Transactional-IoT refers to the autonomous communication and interactions between devices within the Internet of Things (IoT) ecosystem. SEALCOIN’s PoC demonstrates the use of advanced technology embedded in a semiconductor device to authenticate and verify transactions voluntarily. At the heart of this new functionality is the Secure Element, an embedded security device that protects the private key and certificate that represents the device’s unique identity. Leveraging elliptic curve cryptography (ECC) compatible with Hedera’s Decentralized Ledger Technology (DLT), the device can verify and sign transactions on-chain.

PoC Highlights:

• Classification of Service Providers: By enabling devices to interact directly with each other, SEALCOIN eliminates the need for intermediaries, improving efficiency and reducing costs in the IoT ecosystem.
• Advanced security: The Secure Element ensures that the hardware is protected, maintaining the highest standards of security and reliability.
• Seamless connection with Hedera: Using ECC, the same cryptographic algorithm used by DLT, devices can verify and sign transactions in real time, ensuring secure and transparent chain transactions.

Mr. Moreira, CEO of WISeKey noted, “This milestone marks the beginning of the development of the SEALCOIN platform. We are pleased to announce that we are launching these developments and intend to deliver a Minimum Product (MVP) ) in Q4 2024. The SEALCOIN platform will enhance the capabilities of our Transactional-IoT technology, providing a comprehensive solution for secure, autonomous device relationships.”

Additionally, SEALCOIN uses Hedera’s Decentralized Ledger Technology as a shared infrastructure. Hedera’s DLT offers high performance, security, and stability, making it the right choice for supporting the seamless and efficient operation of the SEALCOIN platform.

The successful execution of this PoC confirms SEALCOIN’s commitment to drive innovation and set new standards in the IoT environment. As the company continues to develop its technology, the team is excited to explore new opportunities and applications that advance the mission of creating a safer and more connected world.

About SEALCOIN
SEALCOIN aims to revolutionize the Internet of Things (IoT) with new technology that empowers devices to automate and coordinate the exchange of services for payment. Using advanced blockchain technology and secure semiconductor solutions, SEALCOIN aims to create an infrastructure that enhances security, efficiency and trust in the IoT ecosystem.

About WISeKey:
WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss holding company with several operating subsidiaries, each dedicated to specific areas of its technology portfolio. Subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and high-tech products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identity in IoT, Blockchain, and AI, (iii) WISeSat AG focused on space technology for secure satellite communication, especially for IoT devices, (iv) WISe.ART Corp focused and trusted blockchain NFTs and work on the WISe.ART market for secure NFT transactions, and (v) continues to establish SEALCOIN AG to focus on the blockchain network of network with DePIN technology and the development of the SEALCOIN platform.

Each grant contributes to WISeKey’s mission to preserve the network while focusing on their areas of research and expertise. Their technologies integrate seamlessly into the complete WISeKey platform. WISeKey maintains a digital information environment for individuals and things using Blockchain, AI and IoT technologies. With more than 1.6 billion microchips embedded in various IoT components, WISeKey plays an important role in securing the Internet of Everything. The company’s semiconductors generate critical data that, when analyzed with AI, enables the prevention of equipment failure. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between things and people.

For more information about WISeKey’s strategic guidance and other companies, please visit www.wisekey.com.

Contact Names and Investors:

WISeKey International Holding Ltd Company Contact: Carlos Moreira Chairman & CEO Phone: +41 22 594 3000 info@wisekey.com

WISeKey Investor Relations (US) Equity Group Inc. Lena Cati Phone: +1 212 836-9611 / lcati@equityny.com Katie Murphy Phone: +1 212 836-9612 / kmurphy@equityny.com

Description:
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