WISeKey’s
Blockchain-Based
Solutions
Offer Decentralized Trust to
Unlock a Decentralized Internet 3.0 via
the Trust Protocol Alliance
(for
more information visit
https://trustprotocolassociation.org/)
Geneva, Zug, Switzerland – October 11, 2021 -
WISeKey International Holding Ltd ("WISeKey", SIX: WIHN), a leading
cybersecurity, IoT and AI company, today announced that Trust
Protocol Association (the Association) is now fully operational.
The purpose of the Association is to establish a new Trust Protocol
for the Internet by combining traditional Cryptographic Trust
Models with permissioned Blockchain transactions through strong
authentication provided by the OISTE WISeKey Root of Trust, and
create a new Global Trust platform and an ecosystem of
governmental, technology and business partners, each representing a
certification node with the possibility of having multiple
certifications nodes per country. Click this link to learn more
about founding members, services offered, and recent and upcoming
events of the Association.
The Association promotes the use of Blockchain
technologies internationally, facilitates the rapid adaptation and
on-boarding of Blockchain-based solutions, and fosters stronger
collaboration between the public, private and academic sectors. If
we study the way the internet has developed with Internet 2.0, we
will find massive data structures that are built behind proprietary
enclosures controlled by few companies with many of them having
unprecedented trust issues: the global search index at
Google, the global product index at Amazon, the global social graph
at Facebook, etc. The problem was that in those early years, these
companies had no distributed identity and trust management system
to match the new distributed communications architecture. Thirty
years later, with the Blockchain, we finally have the conceptual
framework for a decentralized system, one in which trust need no
longer be invested in a third-party intermediary but managed in a
distributed manner across a community of users incentivized to
protect a public good, by bringing these large data structures
created by the public under the user consent, totally decentralized
and interoperable.
WISeKey’s blockchain-based solutions aim to
override the need for a central authority by distributing
information previously held in a centralized repository across a
network of participating nodes. While Blockchain is not owned by
one individual or organization, anyone with an internet connection
(and access, in the case of private blockchains) can make use of
it, help maintain and verify it. When a transaction is made on a
blockchain, it is added to a group of transactions, known as
“blocks.” Each block of transactions is added to the database in a
chronological, immutable chain. Each block is stamped with a unique
cryptographic code, which ensures that records are not
counterfeited or changed. The blockchain approach lacks legal
validity in most jurisdictions, which only recognize the digital
signatures as equally valid that manuscript signatures when
generated using traditional PKI technology.
As a clear example of this decentralization
process WISeKey has developed a unique NFT Platform following a
multichain strategy through a partnership with Polygon, CasperLabs
and Ocean Protocol. WISe.Art is a fully fledged marketplace with
its own digital currency, has the ability to include curators and
multipliers, while-labeling options and special NFT designs.
The NFT design of the WISe.Art platform ensures
that besides an authenticated and signed version of the actual
digital asset, it creates an irreversible link to the physical
object, provides proof of ownership, provenance and a set of
contracts describing future use and monetization streams. The NFT
platform is secured by WISeKey's various security technologies
enabling the authentication of physical objects as well as digital
assets, in a safe end-to-end process. The WISe.Art platform allows
trading of NFTs into WISeKey's own TrustECoin cryptocurrency,
enabling market participants to stay anonymous - if they so choose
- while ensuring the necessary KYC processes to avoid unwanted
activity on the marketplace.
A user-controlled digital identity typically
starts with a number, unique to an individual, that is associated
with a public key for which the user has the private key issued by
the OISTE/WISeKey Crypto Graphic Root Key. The WISeID Network is a
most deployed standard for digital identity operating since 1998 by
a non-profit organization – OISTE.ORG – designed to bring
the neutrality, trust, consent, personal control, and ease-of-use
of Digital IDs to the Internet.
A Root of Trust is a source that can always be
trusted within a cryptographic system. A principal example is a
Trusted Certification Authority (CA) which generates digital
certificates that can be used for legally binding signed electronic
transactions. The traditional PKI does not fit well with the
heterogeneous blockchain distributed trust model that leverages the
existing trust domains and bridges them to create end-to-end trust
between them without relying on any common RoT.
WISeID Trusted Distributed Ledger Technology of
Identity used to store the identity of objects and peoples and
offers connected objects the ability to identify, authenticate and
verify each other with a digital certificate. During each
interaction, the Blockchain of Identity verifies and validates each
digital certificate to secure the interaction Connected objects
secured with WISeKey’s IoT 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.
About WISeKey
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 1.6 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.
About the Trust protocol
AssociationThe purpose of the Trust Protocol Association
(the Association) is to establish a new Trust Protocol for the
Internet by combining traditional Cryptographic Trust Models with
permissioned Blockchain transactions through strong authentication
provided by the OISTE WISeKey Root of Trust, and create a new
Global Trust platform and an ecosystem of governmental, technology
and business partners, each representing a certification node with
the possibility of having multiple certifications nodes per
country. The Association promotes the use of Blockchain
technologies internationally, facilitate the rapid adaptation and
on-boarding of Blockchain-based solutions, foster stronger
collaboration between the public, private and academic sectors.
https://trustprotocolassociation.org/
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/.
Mission: transfer the control and management of
technologies dealing with digital identities to neutral authorities
working for the public interest.
Vision: an Internet where users engage in online
transactions and communications under systems of digital identity
management that offer robust protection against fraud and theft,
while protecting the fundamental right to privacy.
Press and investor contacts:
WISeKey
International Holding LtdCompany Contact: Carlos
MoreiraChairman & CEOTel: +41 22 594 3000info@wisekey.com |
WISeKey
Investor Relations (US)Contact: Lena CatiThe Equity Group
Inc.Tel: +1 212 836-9611lcati@equityny.com |
Disclaimer: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.
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