WISeKey’s Digital Identity for People and Objects Ecosystem is Expanding Exponentially as its Semiconductor Install Base Grows to 1.6 Billion Secure Chips and Root of Trust to 5 Billion DevicesFor WISeKey the ability to secure, capture, package and commercialize IoT data offers a potential new monetization model
Geneva, Switzerland – June 10, 2020: WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY),), a leading global cybersecurity and IoT company today announced that its Digital Identity for People and Objects Ecosystem is expanding exponentially and its Semiconductor install base grows to 1.6 billion secure chips and Root of Trust (RoT) to 5 billion devices. Currently, over 1.6 billion objects have been secured by WISeKey VaultIC and NanoSeal Chips and over 5 billion RoT are recognized by all operating systems (OS) both mobiles and computers and applications like internet browsers or email applications.The WISeKey OISTE RoT is a set of functions in the trusted computing module that is always trusted by the computer’s operating system (OS). RoT serves as separate compute engine controlling the trusted computing platform cryptographic processor of the PC or mobile device where it is embedded. As the intelligence of devices on the edge increases, so does the attack surface. The expanding of Internet of Things (IoT) is convenient and allows the implementation of many disruptive applications with an increased risk of cyberattacks.WISekey as a cybersecurity company is uniquely positioned to protect consumers against the current data privacy abuses. The combination of RoT with blockchain generates a new Trust protocol in order to allow the blockchain to scale trusted transactions with embedded security, ensuring that each transaction submitted to the blockchain is digitally signed using keys that are trusted by the RoT and combining a vertical trust process verified by a reputable Third Trusted Party with the inherent decentralized trust provided by the blockchain.This dual Trust Model solves one of the biggest challenges for the Internet which is to bridge the currently fragmented trust domains including existing, incompatible national RoT used by many governments. By combining RoT with blockchain, our innovative Trust protocol enables a wide range of use cases and business models that simply are not possible with using just current blockchain-based solutions.One concrete application on the use of this new Trust protocol is WISeID which uses a Trusted Distributed Ledger Technology of Identity to store the identity of objects and people 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. To compensate the use of the platform, a micro service fee is charged through a utility token, called the WISeID token.Imagine an intelligent car protected by out IoT chips with a system processing authenticated data for each of the vehicle components, being able to detect if/when different parts will require service and to digitally sign all the logs required to prove that service was provided. This platform can be used in multiple industrial applications, allowing for optimized productivity across industries through predictive maintenance on equipment and machinery, creating truly smart homes with connected appliances, and providing critical communication between devices including self-driving cars and smart homes. The possibilities that IoT brings to the table are endless. WISeKey’s technology creates a platform that helps connected devices to become intelligent devices that can learn from attacks, defend themselves, and transfer this intelligence to other devices in the network.In order to protect the Internet of Things (IoT), security needs to be embedded at the very beginning of the device microchip design, so the RoT is also embedded in connected devices, to secure the interactions among objects and between objects and business applications. The WISeKey Ecosystem install base has expanded in virtually all IoT sectors (smartcards, smart cities, drones, anti-counterfeiting, smart lighting, servers, mobile phones, etc.). WISeKey is uniquely positioned to be at the edge of IoT as VaultIC Secure Elements protect a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications detect cybersecurity attacks or predict the failure of their equipment before it happens. The IoT revenue mode is recurrent, as what gets consumed and measured on a repeating basis are not the microchips or the RoT, but the authenticated data they produce and the services that this data enables.WISeKey’s client base has substantially increased and its geographic footprint includes high growth markets such as China and USA. In China this ecosystem is further enriched by the accreditation of the RoT, issued by 360 Secure Browser, the leading internet browser solution in China, with an estimated user base of over 400 million active users, and a market penetration close to 70%, according to CNZZ. 360 Secure Browser, developed Qihoo 360 Technology Ltd., has a strong focus on security, and combines antivirus and other features to secure internet connections.All IoT connected devices need security, and many of them will use sensors with secure IoT chips like VaultIC. As the world becomes more connected, there will be an exponential growth of the number of sensors used to track everything including changes in the environment and the atmosphere, traffic on our roads, temperature of our homes and location of our mobile phones. Experts predict that, by 2022, 1 trillion networked sensors will be embedded in the world around us – each one requiring strong digital identity, authentication and data protection.For more than twenty years, WISeKey has been providing a range of Common Criteria certified tamper resistant microprocessors that can be implemented on IoT devices to provide secure storage and usage of sensitive assets, and to uniquely identify, authenticate and protect devices in the field. The digital identities of these assets can be efficiently managed through a Webtrust certified Public Key Infrastructure on premises or as a cloud service.About WISeKeyWISeKey (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: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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