SEALCOIN AG Announces Final SEALCOIN Timeline, Whitepaper Release, and Tokenomics Details

Rhea-AI Summary

SEALCOIN AG, a subsidiary of WISeKey International Holding (SIX: WIHN, NASDAQ: WKEY), has announced the final timeline for its SEALCOIN project. Key milestones include:

• Successful Proof of Concept on July 25, 2024
• $2 million pre-seed investment raised in mid-2024
• Upcoming FINMA application submission
• Platform development launched in Q3 2024
• Expected platform production release and token issuance in mid-2025
• Targeted digital exchange listing by Q3 2025

The highly anticipated whitepaper will be released in October 2024, detailing the platform's technical architecture, governance model, and tokenomics. A Beta Version of the SEALCOIN Platform and Token will be released on Hedera's TestNet in Q1 2025 as an MVP, with full production release set for Summer 2025.

Positive

• Successful completion of Proof of Concept, demonstrating platform's ability to facilitate secure IoT transactions
• Raised $2 million in pre-seed investment, positioning for accelerated growth
• Platform development launched, leveraging Hedera Hashgraph technology for enhanced scalability and security
• Planned release of comprehensive whitepaper, providing transparency on tokenomics and strategic vision
• Beta Version (MVP) release on Hedera's TestNet planned for Q1 2025, allowing user testing before full production release

Negative

• Full platform production release and token issuance not expected until mid-2025
• Digital exchange listing targeted for Q3 2025, potentially limiting token liquidity in the short term

Insights

Blockchain Technology Expert

The announcement of SEALCOIN's timeline and upcoming whitepaper release marks a significant step in the development of a decentralized physical internet (DePIN) platform. The use of Hedera Hashgraph technology for the SEALCOIN platform is a strategic choice, offering potential advantages in scalability and security over traditional blockchain solutions.

Key points to consider:

• The successful Proof of Concept demonstrates the platform's capability to handle secure IoT transactions, which is important for real-world adoption.
• The $2 million pre-seed investment provides initial capital for development, but investors should monitor future funding rounds to assess the project's financial stability.
• The planned FINMA application indicates a commitment to regulatory compliance, which is essential in the crypto space but may also introduce operational constraints.
• The timeline from MVP release on TestNet in Q1 2025 to full production in Summer 2025 and exchange listing in Q3 2025 seems ambitious, potentially raising execution risk concerns.

While the project shows promise, investors should approach with caution, considering the early stage of development and the volatile nature of crypto projects.

IoT Market Analyst

SEALCOIN's initiative to create a platform for autonomous IoT transactions aligns with the growing trend of IoT device interconnectivity and the need for secure, decentralized communication protocols. The project's focus on enabling direct device-to-device transactions could potentially disrupt traditional IoT ecosystems.

Market implications to consider:

• The IoT market is projected to grow significantly, with billions of devices expected to be connected in the coming years, presenting a large potential market for SEALCOIN.
• Competition in the IoT blockchain space is intensifying, with several established players and startups vying for market share.
• The success of SEALCOIN will largely depend on its ability to demonstrate clear advantages over existing solutions and secure partnerships with IoT device manufacturers and service providers.
• The planned release of a beta version on Hedera's TestNet in Q1 2025 will be a critical milestone for assessing the platform's real-world performance and attracting developer interest.

While SEALCOIN shows potential, its impact on WISeKey's valuation remains speculative until the platform demonstrates commercial viability and adoption.

SEALCOIN AG Announces Final SEALCOIN Timeline, Whitepaper Release, and Tokenomics Details

Geneva, Switzerland – September 26, 2024: WISeKey International Holding Ltd. (“WISeKey” or the “Company”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity and IoT company operating as a holding company, today announced that its subsidiary Sealcoin AG, which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform, is announcing the final timeline for the SEALCOIN project, including the highly anticipated release of its whitepaper in October 2024. The whitepaper will unveil the strategic vision, technical roadmap, and comprehensive tokenomics of SEALCOIN, marking a major milestone in the platform’s development.

Key Milestones and Timeline:

1. Proof of Concept (PoC): Successfully executed on July 25, 2024, demonstrating the platform’s ability to facilitate secure, autonomous IoT transactions.
2. Pre-Seed Investment: Raised $2 million in mid-2024, positioning SEALCOIN for accelerated growth and development.
3. FINMA Application: SEALCOIN AG is about to submit its application to the Swiss financial regulator FINMA, ensuring full regulatory compliance as the project advances.
4. Platform Development: Officially launched in Q3 2024, the SEALCOIN platform’s development is underway, leveraging Hedera Hashgraph technology for enhanced scalability and security.
5. Platform Production Release and Token Issuance: The SEALCOIN platform will go live, and the token will be officially issued, expected in mid-2025.
6. Token Listing: SEALCOIN is targeting a digital exchange listing by Q3 2025, to provide liquidity and accessibility for token holders worldwide.

Whitepaper Release in October 2024

The SEALCOIN whitepaper, set to be released in October 2024, will provide an in-depth look at the platform’s technical architecture, governance model, and tokenomics. The document will outline SEALCOIN’s approach to enabling secure, decentralized, and autonomous transactions between IoT devices, powered by Hedera Hashgraph. Detailed tokenomics will include the allocation and distribution structure, vesting schedules, and SEALCOIN’s role as both a utility and payment token within the platform.

The SEALCOIN Platform and Token Beta Version will be released as an MVP (Minimum Viable Product) on Hedera’s TestNet in Q1 2025. This milestone will allow users and developers to test SEALCOIN’s core functionalities in a controlled environment, showcasing the platform’s decentralized transaction capabilities between IoT devices and ensuring the smooth operation of the SEALCOIN token within the ecosystem before the full production release, set in Summer 2025.

Carlos Moreira, CEO of SEALCOIN AG, commented, “With our PoC successfully completed and development in full swing, we are excited to share our roadmap and vision for the future of IoT transactions. The upcoming whitepaper will provide the community with full transparency on our tokenomics and the strategic steps we’re taking to achieve full decentralization.”

About SEALCOIN

SEALCOIN is a decentralized platform designed to facilitate secure, autonomous transactions between IoT devices. Built on Hedera Hashgraph, SEALCOIN allows devices to engage in seamless service-for-payment exchanges without the need for intermediaries. With a focus on privacy, scalability, and decentralized governance, SEALCOIN is poised to revolutionize the Internet of Things (IoT) landscape. 

About WISeKey 

WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a Swiss-based computer infrastructure company specializing in cybersecurity, digital identity, blockchain, Internet of Things (IoT) solutions, and post-quantum semiconductors. As a computer infrastructure company, WISeKey provides secure platforms for data and device management across industries like finance, healthcare, and government. It leverages its Public Key Infrastructure (PKI) to ensure encrypted communications and authentication, while also focusing on next-generation security through post-quantum cryptography.

WISeKey's work with post-quantum semiconductors is aimed at future-proofing its security solutions against the threats posed by quantum computing. These advanced semiconductors support encryption that can withstand the computational power of quantum computers, ensuring the long-term security of connected devices and critical infrastructure. Combined with its expertise in blockchain and IoT, WISeKey's post-quantum technologies provide a robust foundation for secure digital ecosystems at the hardware, software, and network levels.

WISeKey operates as a 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, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.

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 the Swiss Financial Services Act (“FinSA”), the FinSa's predecessor legislation or advertising within the meaning of the FinSA. 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.

Press and Investor Contacts

WISeKey International Holding Ltd  Company Contact:  Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 info@wisekey.com

WISeKey Investor Relations (US)  The Equity Group Inc. Lena Cati Tel: +1 212 836-9611 / lcati@equityny.com Katie Murphy Tel: +1 212 836-9612 / kmurphy@equityny.com

FAQ

When will SEALCOIN AG release its whitepaper for the SEALCOIN project?

SEALCOIN AG plans to release its whitepaper in October 2024, detailing the platform's technical architecture, governance model, and tokenomics.

What is the expected timeline for SEALCOIN's platform production release and token issuance?

The SEALCOIN platform production release and token issuance are expected to occur in mid-2025.

How much pre-seed investment did SEALCOIN AG raise for the SEALCOIN project?

SEALCOIN AG raised $2 million in pre-seed investment in mid-2024 for the SEALCOIN project.

When did SEALCOIN AG successfully execute its Proof of Concept (PoC)?

SEALCOIN AG successfully executed its Proof of Concept (PoC) on July 25, 2024, demonstrating the platform's ability to facilitate secure, autonomous IoT transactions.

When is SEALCOIN targeting a digital exchange listing for its token?

SEALCOIN is targeting a digital exchange listing by Q3 2025 to provide liquidity and accessibility for token holders worldwide.