SEALSQ, a WISeKey Company, Will Launch SEALCOIN with Google Cloud as a Technology Provider
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Insights
The introduction of SEALCOIN by SEALSQ, a subsidiary of WISeKey International Holding Ltd., represents a strategic move to capitalize on the intersection of semiconductor technology, cybersecurity and the burgeoning Internet of Things (IoT) market. By leveraging its substantial install base of semiconductors, SEALSQ is poised to create a new ecosystem where IoT devices can transact both data and currency, potentially streamlining operations and reducing costs associated with M2M communications.
From a market perspective, the partnership with Google Cloud signifies a robust technological backing, which could enhance investor confidence in the scalability and security of the SEALCOIN platform. This collaboration might also signal a competitive advantage, as Google Cloud's infrastructure could provide the necessary computational power and global reach necessary for SEALCOIN's adoption.
The potential impact on SEALSQ's revenue streams could be substantial, with the possibility of creating new business models around IoT transactions. However, the success of SEALCOIN will largely depend on market acceptance and regulatory compliance, particularly given the volatile nature of the cryptocurrency market and the regulatory scrutiny it faces.
The deployment of SEALCOIN on Google Cloud indicates an emphasis on security and reliability in the digital finance and IoT space. As a digital token and advanced cryptocurrency protocol, SEALCOIN's success hinges on its ability to ensure secure transactions among IoT devices, which are increasingly targets for cyber threats. The integration of Post-Quantum technology within SEALCOIN's framework could be a differentiator, potentially safeguarding the platform against future cryptographic challenges posed by quantum computing.
The underlying technology of SEALCOIN must be resilient against a wide array of cyber threats, from data breaches to DDoS attacks. Given WISeKey's expertise in cybersecurity, there is an implicit expectation for high standards of digital security within SEALCOIN. This aspect is particularly critical as the M2M economy expands and the volume and sensitivity of transactions between IoT devices grow.
SEALSQ's announcement of SEALCOIN introduces a novel asset class within the cryptocurrency market, which could potentially attract both institutional and retail investors interested in IoT and DeFi sectors. The long-term valuation of SEALCOIN will depend on various factors, including user adoption rates, the volume of transactions processed and the overall growth of the IoT industry.
Investors should closely monitor the integration progress of SEALCOIN within SEALSQ's existing semiconductor install base, as this could serve as an early indicator of the platform's potential market penetration. Furthermore, the financial performance of SEALSQ and its parent company WISeKey could be influenced by the operational efficiencies and new revenue opportunities provided by SEALCOIN.
While the launch of SEALCOIN is a forward-looking development, it is also subject to the inherent risks associated with cryptocurrency ventures, such as market volatility, regulatory changes and technology adoption barriers. Investors should weigh these risks against the projected growth of the IoT market and SEALSQ's strategic positioning within it.
Davos, Switzerland , Jan. 16, 2024 (GLOBE NEWSWIRE) --
SEALCOIN Pre-registration is Available at SEALCOIN.AI
Davos, Switzerland - January 16, 2024: SEALSQ Corp ("SEALSQ" or "Company") (NASDAQ: LAES), a company that focuses on developing and selling Semiconductors, PKI and Post-Quantum technology hardware and software products, today announced the launch of SEALCOIN.AI with Google Cloud as a technology provider. SEALSQ is a subsidiary of 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. SEALCOIN is a digital token and an advanced cryptocurrency protocol, offered by SEALSQ which focuses on developing and selling Semiconductors, PKI and Post-Quantum technology hardware and software products. SEALCOIN is designed to establish a robust economy specifically for billions of internet-driven devices, enabling them to exchange not just data but also currency seamlessly. SEALSQ has an install base of over 1.6 billion semiconductors that will gradually benefit from the SEALCOIN.
Introducing SEALCOIN: A Revolution in IoT and Cryptocurrency
SEALCOIN, representing a significant leap forward in the IoT industry, is a revolutionary cryptocurrency protocol tailored for the Machine-to-Machine (M2M) economy. It facilitates seamless data and currency exchanges among billions of internet-connected devices, enabling IoT structures from various companies to interact autonomously. This innovation transcends conventional currency exchange, establishing a complex network of IoT-enabled transactions and services.
SEALCOIN: Reshaping M2M Payments and IoT Communications
While individual traders can engage with SEALCOIN as with other cryptocurrencies, its core value lies in transforming economic operations and communications within IoT devices. The introduction of SEALCOIN marks a pivotal moment in the evolution of M2M payments, reshaping the digital transaction landscape in the IoT sphere.
Carlos Moreira, Founder and CEO of SEALSQ, noted, “The usage of the Google Cloud for the deployment of SEALCOIN will accelerate the development of the SEALSQ platform all together. In a groundbreaking development, SEALSQ is taking a significant step forward in the world of digital finance (DeFi) and IoT with its advanced cryptocurrency protocol, SEALCOIN. This innovative protocol is designed to establish a robust economy specifically for billions of internet-driven devices, enabling them to exchange not just data but also currency seamlessly.”
SEALCOIN is more than just a digital token. SEALCOIN represents the dawn of a new Machine-to-Machine (M2M) decentralized and tokenized economy. Here, IoT structures from various companies can interact and leverage services and products from one another autonomously, without human intervention. This capability extends beyond mere currency transactions, as it fosters a complex network of services and payments within the IoT web.
About WISeKey
WISeKey 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.
About SEALSQ:
SEALSQ focuses on selling integrated solutions based on Semiconductors, PKI and Provisioning services, while developing Post-Quantum technology hardware and software products. Our solutions can be used in a variety of applications, from Multi-Factor Authentication tokens, Smart Energy, Smart Home Appliances, and IT Network Infrastructure, to Automotive, Industrial Automation and Control Systems.
Post-Quantum Cryptography (PQC) refers to cryptographic methods that are secure against an attack by a quantum computer. As quantum computers become more powerful, they may be able to break many of the cryptographic methods that are currently used to protect sensitive information, such as RSA and Elliptic Curve Cryptography (ECC). PQC aims to develop new cryptographic methods that are secure against quantum attacks. For more information please visit www.sealsq.com.
Forward-Looking Statements
This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipates will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include SEALSQ's ability to implement its growth strategies; SEALSQ’s ability to generate revenue from emerging new semiconductors; SEALSQ’s ability to generate revenue from Matter certification and the new cyber trust mark standards; the successful introduction of the WISeSat picosatellite constellation; SEALSQ's ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; and the risks discussed in SEALSQ's filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC.
SEALSQ Corp 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.
Press and investor contacts:
SEALSQ Corp.
Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
info@wisekey.com
SEALSQ Investor Relations (US)
The Equity Group Inc.
Lena Cati
Tel: +1 212 836-9611 / lcati@equityny.com
Katie Murphy
Tel: +212 836-9612 / kmurphy@equityny.com
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