WISeKey Semiconductors
U.S.
Patent for a Dual-mode
Anti-Counterfeiting
IoT Label to be
Used in Pharma to
Protect
Pharmaceuticals
Against
Counterfeiting
A full description link to patent is
available
at https://image-ppubs.uspto.gov/dirsearch-public/print/downloadPdf/20190114522
Geneva, Switzerland/New York, USA – February 28, 2023 – WISeKey
International Holding Ltd (“WISeKey”), (SIX: WIHN; NASDAQ: WKEY) a
cybersecurity IoT platform company, today announced that it has
develop a new IoT anti-counterfeiting TAG based on its U.S. patent.
Pub No. US2019/0114522 A1
https://image-ppubs.uspto.gov/dirsearch-public/print/downloadPdf/20190114522
The TAG is designed and strategically placed inside the
pharmaceutical package including bottles and containers used to
package and ship medications. When the device is intact, it can be
interrogated remotely by an NFC reader to retrieve information on
the product, and also to confirm the authenticity of the
information. When the package is opened the NFC TAG is damaged, so
that the package cannot be reused to authenticate a fake
pharmaceutical product. The technologically wireless communication
capabilities for connecting with computing devices such as
smartphones or wearables and an artificial memory that helps
provide alerts through display or sound system. With applications
presently spanning across pharmaceutical products
anti-counterfeiting tags are increasingly gaining traction and are
observing vast developments in terms of innovation and
technological advances.
Carlos Moreira, WISeKey’s CEO, noted, “WISeKey’s NFC tags can
help protect against counterfeiting by providing a way to
authenticate products and our U.S. patent provides pharmaceutical
companies with a much-needed solution to put a stop to distribution
of counterfeit medications, a huge threat to public health. When an
NFC-enabled smartphone or device is brought close to an NFC tag,
the tag can transmit information to the device, such as a unique
identifier for the product. NFC tags can also be used to track the
product through the supply chain, from the manufacturer to the
distributor to the retailer. This can help prevent counterfeit
products from entering the supply chain in the first place and can
also help identify the source of any counterfeit products that are
discovered.”Overall, NFC tags provide a simple and effective way to
authenticate pharmaceutical products and protect against
counterfeiting, which can help ensure that consumers receive safe
and effective medications.
Transparency Market Research estimates that the global smart
bottle market, which was pegged at US$88.6 million in 2016, will
reach US$258.8 million by 2024, registering a CAGR of 14.3% between
2016 and 2024.
Near Field Communication (NFC) technology is a wireless
communication technology that enables two devices to communicate
with each other when they are in close proximity. An NFC tag is a
small electronic device that can be embedded in a product or
attached to its packaging to store information.Pharmaceutical
products are often the target of counterfeiting, where fake drugs
are sold to consumers under the guise of genuine products. This can
have serious health consequences, as counterfeit drugs may not
contain the correct ingredients, or may be contaminated with
harmful substances.
This unique identifier can then be used to verify the
authenticity of the product by checking it against a database of
valid identifiers maintained by the manufacturer or a third-party
authentication service. If the identifier is not found in the
database or is found to be invalid, it is likely that the product
is a counterfeit.
WISeKey IoT
Tags offers
the only solution that is based upon Common Criteria (EAL4+) for
object identification and FIPS 140-2, meaning the solution provides
the same level of digital security trusted by banks, the U.S.
Department of Defense and l’ANSSI in France. WISekey
has also filed a new patent in Switzerland and U.S. that ensures
the provenance, authenticity, persistence, and long-term value of
NFTs that are minted on Blockchains using this method. During the
minting process, this method allows to ensure that the NFT is not
corrupted, incomplete, or ambiguous.
In general, there is a high confidence in the ability of a
Blockchain to preserve and store the public key and digital
signature information of the NFT along with any subsequent
transaction data over long and very long periods of time. However,
a Blockchain cannot preserve information that the NFT does not
itself include. Such as disclosed in the patent application, it is
the information in a persistent off-chain storage that establishes
the value and that needs to be authenticated and secured.
NFTs that are not created by this method will not contain enough
information to ensure that the minter of the NFT was the originator
or possessor of the object at the time of minting or had authority
to mint the NFT. Without identifying and establishing the rights of
the minter, the long-term value of the NFT is diminished.
The information associated with an NFT can easily degrade over
long periods of time. For example, over several decades or even
over centuries the owner of an NFT, their descendants, and others
may find it difficult to discern whether an NFT is authentic or
what object the NFT is associated with, or the location where the
object itself is located. There is no assurance that the NFT itself
will preserve its ability to authenticate the associated object or
that its association with the object will be preserved.
In order to solve these technical problems, the methods
protected by the patent application define the structure,
composition and minting process of an authenticatable and
persistent NFT to establish and maintain long-term value as well as
corresponding systems implementing these methods.WISeKey has
aggregated over 46 IoT patent families (more than 200 patents in
total) to its portfolio (https://www.wisekey.com/patents/) required
to power the WISeKey IoT Platform. For WISeKey, adding to its
patent portfolio and intellectual property is key to ensuring that
the company will remain a major player in the IoT Industry for
years to come as company focuses on integrating unique technology
that is differentiated, protected and hard to reproduce based on
tangible scientific discoveries or engineering innovations.
The IoT Industry is a game changer new business segment 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. As a result, it is
anticipated that this year already the number of IoT devices will
surpass the number of mobile devices. By 2021, it is expected 1.8
billion PCs, 8.6 billion mobile devices, and 15.7 billion IoT
devices; by 2035, the amount of data usage is expected to grow more
than 2,400 times, from 1 exabyte to 2.3 zettabytes.
A huge and increasing amount of sensitive data that will need to
be protected by the IoT chips produced by WISeKey will be
interchanged between connected devices and back-end servers,
allowing companies to provide users with new type of applications.
These applications will be designed to offer increased control over
the use of resources, improve efficiency in power grids, optimize
processing of information in industrial environments, secure
autonomous vehicles, provide better and higher quality healthcare
services and personalized experience for shopping or leisure, among
others.
About WISeKeyWISeKey, founded in 1999 (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 LtdCarlos
MoreiraChairman & CEO+41 22 594 3000
/ info@wisekey.comWISeKey Investor Relations (US)The Equity
Group Inc.Lena Cati212 836-9611 / lcati@equityny.comVal
Ferraro212 836-9633
/ vferraro@equityny.comDisclaimer: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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