WISeKey’s WISeID Solution Provides a
Secure Platform for Users to
Manage Their Digital Identities and Protect Themselves Against
Unauthorized Access
The recent launch of WorldCoin project,
where digital coins are exchanged for iris scans, has underscored
the urgent need for clear user control and consent on how personal
data, especially sensitive biometric information, is
used.
Zug, Switzerland - July 31, 2023 - WISeKey
International Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a
leader in cybersecurity, digital identity, and Internet of Things
(IoT) solutions operating as a holding company, today announced
that its WISeID solution offers a safer digital world to
corporation and individuals, by protecting their data and
privacy.
As new digital technologies such AI and Quantum
evolve and reshape the world, the concept of digital identity
becomes increasingly important. The recent launch of WorldCoin
project, where digital coins are exchanged for iris scans, has
underscored the urgent need for clear user control and consent on
how personal data, especially sensitive biometric information, is
used.
The unique and unchangeable nature of the iris
raises severe potential concerns about privacy and the misuse of
data. The lack of regulation in the crypto and blockchain sector
adds to the risks of data misuse and security breaches. With a
significant part of WorldCoin's user base expected to be
disadvantaged individuals willing to trade their iris scans for
funds, the potential for exploitation is high, setting a dangerous
precedent.
Creating a digital identity based on iris
recognition, combined with a cryptocurrency reward system for data
control transfer to WorldID, presents various risks. These include
potential privacy and security breaches, misuse of biometric data,
data ownership issues, and potential exploitation due to incentive
misalignment. The centralization of power could lead to misuse and
threaten individual freedom. Additionally, this system may increase
digital divide issues and may face regulatory challenges depending
on jurisdiction. Strong privacy protections, transparency, and user
consent must be prioritized in designing such a system.
In contrast, solutions like WISeID.com,
developed by WISeKey, emphasize the control and ownership
individuals should have over their digital identities, including
biometric data. WISeID.com provides a secure platform that not only
allows users to manage their digital identities but also protects
them from any unauthorized access.
Nevertheless, the implementation of such
solutions requires robust cybersecurity practices, clear
international regulation, and complete transparency in data
handling. Moreover, public education about digital identity
management is a critical factor in maintaining personal privacy and
security in this new digital age.
WISeKey is urging all stakeholders, from
regulators to technology providers and users, to come together to
create a safer digital world. By doing so, we can ensure that the
benefits of these advanced technologies can be enjoyed without
compromising the individuals’ privacy and data security.
For more information on digital identity
management, please visit WISeID.com.
About WISeKeyWISeKey
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-based holding company through
several operational subsidiaries, each dedicated to specific
aspects of its technology portfolio. The subsidiaries include (i)
SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI,
and post-quantum technology products, (ii) WISeKey SA which
specializes in RoT and PKI solutions for secure authentication and
identification in IoT, Blockchain, and AI, (iii) WISeSat AG which
focuses on space technology for secure satellite communication,
specifically for IoT applications, and (iv) WISe.ART Corp which
focuses on trusted blockchain NFTs and operates the WISe.ART
marketplace for secure NFT transactions.
Each subsidiary contributes to WISeKey's mission
of securing the internet while focusing on their respective areas
of research and expertise. Their technologies seamlessly integrate
into the comprehensive WISeKey platform. WISeKey secures digital
identity ecosystems for individuals and objects using Blockchain,
AI, and IoT technologies. With over 1.6 billion microchips deployed
across various IoT sectors, WISeKey plays a vital role in securing
the Internet of Everything. The company's semiconductors generate
valuable Big Data that, when analyzed with AI, enable predictive
equipment failure prevention. 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 objects and people. For more information on WISeKey's
strategic direction and its subsidiary companies, please visit
www.wisekey.com.
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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