WISe.ART AG, Subsidiary of WISeKey, Secures Investment from The Hashgraph Association for Pioneering Authenticated Digital Assets and Cryptocurrencies
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Insights
The strategic investment from The Hashgraph Association (THA) into WISe.ART AG signifies a notable advancement in the integration of blockchain technology within the digital art and luxury collectibles markets. Hedera's public ledger, known for its ultra-low transaction fees, high scalability and real-time settlement, is poised to enhance the digital finance landscape, especially for IoT devices. The introduction of SEALCOIN as a digital token tailored for internet-driven devices represents a significant step towards creating a seamless economy for data and currency exchange among billions of devices.
From a blockchain perspective, the utilization of Hedera's Asynchronous Byzantine Fault Tolerance (ABFT) consensus algorithm is crucial. ABFT is recognized for its high security, which is paramount when securing transactions and digital assets. The tokenization of WISe.ART equity-shares under the Swiss DLT Act and using the Hedera Token Service (HTS) could potentially increase liquidity and security in share trading, setting a precedent for future digital securities exchanges.
WISeKey's focus on cybersecurity and digital identity is a cornerstone in the realm of digital assets, where the risk of fraud and counterfeiting is significant. The collaboration with THA and the development of WISe.ART platform V3.0, which emphasizes authenticated, signed digital assets, addresses the critical need for provenance and secure ownership in the NFT market. The company's commitment to authenticating physical objects and securing digital assets through advanced security technologies is a proactive approach to mitigating risks associated with digital asset ownership.
WISeKey's expansion into the realm of Post-Quantum technology hardware and software is also noteworthy. As the threat of quantum computing looms over current encryption standards, the development of quantum-resistant cryptographic solutions will be essential for maintaining the integrity and confidentiality of digital transactions in the future.
The investment by The Hashgraph Association is likely to have a positive impact on WISeKey's financial growth and market positioning. The integration of Hedera's network into WISeKey's IoT devices, coupled with the development of SEALCOIN, could open up new revenue streams and market opportunities. The expansion of the WISe.ART platform, with its unique capabilities, positions the company at the forefront of the NFT and digital collectibles space, potentially leading to an increased user base and transaction volume.
However, investors should consider the volatile nature of the cryptocurrency market and the regulatory challenges associated with tokenization. While the Swiss regulatory framework provides a level of compliance and security, global regulatory uncertainties remain a concern. It will be important to monitor the adoption rate of these technologies and their impact on WISeKey's financial performance over time.
WISe.ART AG, Subsidiary of WISeKey, Secures Investment from The Hashgraph Association for Pioneering Authenticated Digital Assets and Cryptocurrencies
Advancing the Frontiers of Blockchain and Tokenization with WISeArt and SEALCOIN
GENEVA – January 2, 2024 - WISeKey International Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a global leader in cybersecurity, digital identity, and Internet of Things (IoT) solutions operating as a holding company, through its subsidiary WISe.ART, a leader in the field of digital art and luxury collectibles, is proud to announce the closing of a strategic investment round with The Hashgraph Association (THA), a Swiss-based non-profit association that is accelerating broad adoption of the Hedera network globally.
This milestone investment is set to propel the expansion and utilization of the Hedera network and further the development of the innovative WISe.Art and SEALCOIN cryptocurrencies. Hedera, an innovative, sustainable public ledger for the decentralized economy, offers ultra-low transaction fees, blazing-fast network speeds, high scalability, and real-time settlement to empower the next-generation of digital finance. .
SEALCOIN, is a digital token and an advanced cryptocurrency protocol, offered by SEALSQ Corp ("SEALSQ" or "Company") (NASDAQ: LAES), a subsidiary of WISeKey, 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.
Transforming the Digital Landscape with WISe.ART and SEALCOIN
Carlos Moreira, Founder and CEO of WISeKey, noted, “This investment from THA will accelerate the development of the WISe.ART platform V3.0 and enhance the Trusted NFT solution. WISe.ART, a comprehensive digital marketplace for the arts and technology sectors, offers unique capabilities including curator and multiplier options, white-labeling, and exclusive NFT designs. The platform is designed to establish authenticated, signed digital assets, ensuring provenance, assurance, and secure ownership.”
Hedera: The Blockchain/DLT Backbone of WISe.ART's Innovative Solutions
Kamal Youssefi, President of The Hashgraph Association, added, “The collaboration with WISe.ART further expands Hedera’s distributed ledger technology (DLT) to the mainstream. We are excited to collaborate with WISe.ART, and leverage WISeKey's commitment to authenticating physical objects by providing the much needed assurance in securing digital assets through advanced security technologies.”
The tokenization of WISe.ART's equity-shares through the legal and regulatory compliant issuance of digital shares under the Swiss regulatory framework (Swiss DLT Act) and using the Hedera Token Service (HTS), enables the future of investment and enhances the efficiency, liquidity, and security of share trading, with the subsequent listing of WISe.ART's tokenized equity-shares on a regulated digital securities exchange.
A pivotal aspect of this funding is the integration of the Hedera enterprise-grade network into SEALSQ IoT devices with secure, decentralized currency transactions. Hedera is a decentralized, open-source, proof-of-stake DLT that utilizes Asynchronous Byzantine Fault Tolerance (ABFT) – the highest degree of security for a consensus algorithm, with the Hedera network governed by some of the world’s leading organizations, Web3 companies, and academic institutions.
About SEALCOIN
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.
Currently, individuals can buy and sell SEALCOIN, similar to other cryptocurrencies. However, SEALSQ emphasizes that the true essence of SEALCOIN lies in its potential to revolutionize how IoT devices operate and communicate economically.
About The Hashgraph Association:
The Hashgraph Association is at the forefront of the digital enablement and the empowerment of organisations through the broad adoption of Hedera-powered enterprise-grade solutions and decentralized applications. As a non-profit organization headquartered in Switzerland, The Hashgraph Association provides funding for training, innovation, and venture building programs globally that enable the economic inclusion and a digital future for all, thus contributing to a positive environmental, social, and governance (ESG) impact. For information about The Hashgraph Association, visit www.hashgraph-association.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.
About WISe.ART:
WISe.ART platform leverages WISeKey’s strong cybersecurity expertise, digital identity technology, and the power of blockchain to offer a unique marketplace for NFTs, connecting artists, buyers, and collectors, while ensuring the provenance and authenticity of digital artworks.
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.
Press and investor contacts:
| WISeKey International Holding Ltd Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 info@wisekey.com | WISeKey Investor Relations (US) The Equity Group Inc. Lena Cati +1 212 836-9611 / lcati@equityny.com Katie Murphy The Equity Group Inc. +1 212 836-9612 / kmurphy@equityny.com |
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.
FAQ
What is the latest investment secured by WISeKey International Holding Ltd. (WIHN, WKEY) subsidiary WISe.ART?
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