Invites IoT Companies to Perform Proof of Concept (PoC) for Transactional-IoT (t-IoT) Technology

WISeKey’s SEALCOIN Project Leverages Hedera DLT: Invites IoT Companies to Perform Proof of Concept (PoC) for Transactional-IoT (t-IoT) Technology

For more information see PoC video: https://youtu.be/daOvoOxqGvQ

Geneva – September 11, 2024 - WISeKey International Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leader in cybersecurity, AI, Blockchain, and IoT operating as a holding company, is inviting companies to participate in a groundbreaking machine-to-machine PoC for its innovative t-IoT technology, codenamed Project SEALCOIN. This PoC aims to showcase the transformative potential of SEALCOIN by demonstrating the disintermediation of service providers in interconnected devices, allowing them to communicate and transact autonomously. The result is a streamlined process that enhances efficiency, reduces costs, and creates a more seamless IoT ecosystem.

At the core of this PoC is the use of cutting-edge technology embedded within semiconductor devices, which autonomously validates and verifies transactions. SEALCOIN features a Secure Element—an embedded security hardware that protects the private key and certificate representing each device’s unique identity. Leveraging elliptic curve cryptography (ECC), compatible with Hedera’s Decentralized Ledger Technology (DLT), these devices can simultaneously authenticate and sign transactions on-chain, ensuring security and transparency in real-time.

Earlier this year, WISeKey established SEALCOIN AG, a Special Purpose Vehicle (SPV), to house and advance the SEALCOIN decentralized technology project. Following the successful launch of PoC, the Company is now focused on the launch of a Minimum Viable Product (MVP) by Q4 2024. This platform will serve as a comprehensive solution for secure, autonomous device interactions within the IoT ecosystem. By enabling devices to transact directly with each other, SEALCOIN effectively removes intermediaries, paving the way for a more efficient and cost-effective future for IoT.

Carlos Moreira, WISeKey’s CEO, noted, “SEALCOIN PoC is a major milestone in our journey toward enhancing the capabilities of our t-IoT technology. We are excited about our plan of delivering the MVP later this year and continuing to explore new possibilities that will further advance our mission of creating a safer, more interconnected world. As SEALCOIN leverages Hedera’s robust DLT infrastructure, known for its high performance, security, and stability, this project is set to set new standards in the IoT landscape.”