A leading Swiss cybersecurity and IoT solutions company, announced the introduction of World Internet Secure Coin, or WISeCoin, a Blockchain platform that enables countries to launch their own cryptocurrencies in an environment that provides interoperability in a similar fashion as current analogue currencies.
Today, cryptocurrencies have become a global phenomenon, so much so that even central banks are trying to create their own cryptocurrency systems. To this end, WISeKey is helping cities and nations around the world create their own cryptocurrency with WISeCoin, its Blockchain platform for cryptocurrencies. With its revolutionary design and state-of-the-art cryptographic security system, WISeCoin is poised to disrupt legacy systems for transacting value and revamp global economic infrastructures.
To empower a seamless cryptocurrency enabled economy, WISeCoin is supplemented with highly secured solutions such as biometrics-driven hardware wallets, integrated exchange platforms, MicroChips Blockchain enabled semiconductors, and NFC-based contactless payment solutions. WISeKey’s objective with WISeCoin is to become an emerging powerhouse in the global cryptocurrency market by supporting the development of economies built on Blockchain technology.
Rapid advancements in digital technologies have started to transform the global financial landscape. Government-regulated cryptocurrencies enabled with a proper level of security, governance and digital identity are required to realize the true potential of digital currencies.
The WISeCoin offering will be tested during the next 6 months on selected countries using WISeKey Blockchain technology, and will be gradually offered to citizens.
WISeKey is working with several governments to enhance their existing cooperation on identity management, vehicle and land registration, lifecycle management, and to develop their own cryptocurrencies using Blockchain technology. These cryptocurrencies can enable financial transactions that offer multiple advantages, including faster processing, improved security, and reduced transaction costs. Blockchain-enabled cryptocurrency has the potential to usher in a new era of individual and corporate commerce.
WISeKey is helping governments and corporations address some of the critical requirements using Blockchain, including: a vehicle lifecycle management system on Blockchain for the government of Andhra Pradesh in India with Public Key Infrastructure (PKI) to produce improved governance; enabling a digital economy for 140 million farmers in India through the WISeFarmers initiative; a registration solution for the government of Rwanda that could also provide an anti-counterfeit solution for the land titles and financial services industries; government-regulated fiat cryptocurrencies and gold-backed cryptocurrencies; HSM solution for private key protection and management for Blockchain applications; and secured IoT transactions on Blockchain using WISeKey semiconductors solution. WISeKey’s cryptographic RoT empowers IoT manufacturers and chipmakers to add digital certificates to their chips at the hardware-level to encrypt communication and authenticate the devices on Blockchain.
With its partner ecosystem, WISeKey is well positioned to address different kinds of Blockchain requirements for clients globally. WISeKey has partnered with Microsoft and IBM for BaaS solutions, as well as with other companies Lykke, Stratumn, BigchainDB. WISeKey is committed to uncover the limitless possibilities in this Blockchain arena for the betterment of business and quality of life empowered with WISeKey security solutions.
WISekey will combine WISeCoin with its CertifyID (https://account.wisekey.com) integrating Digital Identity with Blockchain technology. CertifyID acts as a Digital Identity dual factor authentication based technology that sits on top of a Blockchain. The CertifyID Blockchain is constantly growing as new blocks are added to it with a new set of recordings. Each CertifyID node gets a copy of the CertifyID Blockchain and gets downloaded automatically upon joining the CertifyID network. The system is completely decentralized and can be operated at national or local level using a distributed identity ledger run by trusted parties spread across the blockchain.
WISeCoin Wallet provides users with contactless access to their private key and allows them to make contactless transactions and payments. WISeCoin Wallet uses a combination of Near Field Communication (“NFC”) technology with highly secured solutions provided by the WISeKey Semiconductors and is now available through the WISeWallet App. Every time a contactless Blockchain transaction is made, such as a Bitcoin transaction, the private key is fetched from the NFC Hardware storage to enable the transaction.
While the exchanges and software wallets continue to get hacked, the hardware wallets have gained popularity as they are providing the most secure solution for transaction and payments. Through the WISeCoin Wallet, hardware wallets have now become contactless and users can establish multiple private keys into the secure store using the same WISeWallet App and access these private keys while making transactions in contactless mode.
The WISeWallet App is compatible with most of the existing blockchain technologies and works as part of payment system using WISeKey Blockchain-as-a-Service (“BaaS”) technology offerings. To empower a seamless cryptocurrency enabled economy, WISeCoin is supplemented with additional highly secured WISeWallet solutions (biometrics enabled variants also available), integrated exchange platforms, NFC-based contactless payment solutions, etc. WISeKey’s objective is for WISeCoin to become an emerging powerhouse in the global cryptocurrency market by supporting the development of economies built on Blockchain technology.
In the second phase, WISeKey will release an embedded WISeWallet, an advanced hardware wallet equipped with its own security hardened operating system and with wireless functionality, able to connect with smart phones of any type, as well as desktops/laptops/iPads through Bluetooth and Wifi.
While all these security and ease of use features are very important, there has to be a proper recovery option for the wallet when the hardware storage is lost, broken or stolen. Thus, a backup copy of all private keys is stored in the military grade bunkers in the Swiss Alps with proper Hardware Security Module (HSM) and sophisticated recovery mechanisms are in place for a reliable and consistent Wallet solution.
The technology achieves Consumer Monetization through Attention-Contingent Advertising Tokenization Strategy and lays out the fundamental principles of the emerging Economics of Attention
GENEVA, Switzerland - December 18, 2017 - WISeKey International Holding Ltd (WIHN.SW) ("WISeKey"), a leading Cybersecurity and IoT company, today announced the integration of WISeID blockchain app https://www.wiseid.com/ and WISeCoin Cryptocurrency https://www.wisecoin.com/ into a platform that allows brands to increase and monetize customer attention using a WISeCoin specialized exchange, tokenized via Blockchains.
The WISeCoin Cryptocurrency for Advertising focuses on the "attention economy" as it tokenizes (values and then monetizes) consumer's attention. Investing in capturing and retaining consumer attention is very expensive but is equally as valuable to brands. WISeCoin technology provides brands with a cost-effective and reliable way to easily tokenize consumer attention using cryptocurrencies. The combination of Consumer Identities (WISeID) with Consumer Attention Tokenization (WISeCoin) creates an Authenticated Consumer Attention, which is a key requirement for effective advertising and converting contacts into contracts.
Brands using the WISeCoin technology, will reward their customers for any purchase or completed transaction with WISeCoin micropayments which will be deposited directly in to their WISeCoin wallets using a WISeCoin Identity micropayment cryptographically embedded in the brand. These micropayments can then be converted in to WISeCoin cryptocurrency.
The market for authenticated consumer attention (or "trusted eyeballs") has become so competitive that authenticated attention is now regarded as a currency with a tokenizable value allowing brands to earn customer's attention without directly buying access to an audience. Through the WISeCoin technology, instead of the advertiser going to the consumer, the opposite occurs. With WISeCoin, brands can reward their loyal consumers while saving on transaction and marketing costs, and users get to spend the WISeCoin cryptocurrencies in whichever way they want.
WISekey is currently working with over 3,500 brands (in different industries such as the automotive, consumer packaged goods (CPG), luxury goods, pharma, financial services, retail and travel industries) that understand this emerging consumer tokenization market. These brands are already using WISekey Digital Identities and Cryptographic Semiconductors to authenticate, protect and tag their products, thus can now benefit from using the WISeCoin Cryptocurrency as a digital currency investment capital to be spent on marketing efforts.
WISeCoin is compatible with most existing blockchain technologies and works as part of a payment system using WISeKey Blockchain-as-a-Service ("BaaS") technology offerings. To empower a seamless cryptocurrency enabled economy, WISeCoin is supplemented with additional highly secured WISeWallet solutions (including biometrics-enabled variants), integrated exchange platforms, NFC-based contactless payment solutions, etc. WISeKey's objective is for WISeCoin to become an emerging powerhouse in the global cryptocurrency market by supporting the development of economies built on Blockchain technology. WISeCoin tokens earned from transactions can be used to pay for services from different brands or can be converted into fiat currency via cryptocurrency exchanges.
Brands using WISeCoin join the WISeKey Blockchain which is constantly growing as new blocks are added to it with a new set of recordings. Each WISeID node gets a copy of the WISeID Blockchain and gets downloaded automatically upon joining the WISeID network. Through the WISeID app the consumers are always in control of their digital identity stored on their mobile, IoT sensor and/or computer and is only the user who determines which identification attributes are shared with social media, credit cards, merchant sites etc., never disclosing the Personal Identifiable Information (PII) if not required or necessary. WISeID uses Blockchain as a public, immutable ledger that allows third parties to validate that the original Identity or Attribute certifications provided by any Trusted Third Party has not been changed or misrepresented.
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.