WISeKey and SEALSQ Launch at CES 2024 in Las Vegas a New Service to Elevate Cryptocurrency Security with Advanced Digital Identification and Robust Multi-Factor Authentication
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Insights
The introduction of advanced digital identification and robust multi-factor authentication (MFA) by WISeKey and SEALSQ represents a significant enhancement in the security infrastructure of cryptocurrency transactions. The implementation of sophisticated MFA protocols is a proactive measure against the increasing sophistication of cyber threats targeting digital assets. By requiring multiple forms of verification, the risk of unauthorized access is greatly reduced, which is crucial given the irreversible nature of blockchain transactions.
In the context of cybersecurity, the encryption of private keys and the use of hardware wallets are best practices for safeguarding digital assets. The new service by WISeKey and SEALSQ aligns with industry trends towards greater security measures, particularly in the realm of private key management. Their approach to digital identity management, shifting towards user-controlled models, reflects a broader industry movement to empower users and enhance privacy.
Blockchain's inherent security features are foundational to cryptocurrency's appeal, yet the evolving landscape of cyber threats necessitates additional layers of protection. The integration of blockchain technology with advanced digital identification and MFA by WISeKey and SEALSQ addresses a critical industry need by bolstering the security of transactional data against sophisticated hacking attempts.
The concept of user-controlled digital identities represents a transformative shift in data privacy and security. This user-centric approach not only enhances security but also promotes interoperability and user autonomy over personal data. The adoption of such paradigms by WISeKey's WISeID platform could set a precedent for other players in the blockchain and digital identity sectors, potentially leading to a new standard in how digital identities are managed within the blockchain space.
The launch of WISeKey's new digital identification service is a pivotal development in the digital identity landscape. By placing control of personal information in the hands of users, WISeKey is addressing growing concerns around data privacy and exploitation. This shift towards user-centric identity models is likely to resonate with privacy-conscious consumers and could influence how digital identity services evolve industry-wide.
The integration of such services into the cryptocurrency sector is particularly pertinent, as the decentralized nature of blockchain technology aligns well with the concept of user-controlled digital identities. This could potentially lead to broader adoption of these services across various sectors, as the demand for secure and private digital identity solutions continues to rise in response to increasing data breaches and privacy infringements.
Geneva, Switzerland, Jan. 09, 2024 (GLOBE NEWSWIRE) -- WISeKey and SEALSQ Launch at CES 2024 in Las Vegas a New Service to Elevate Cryptocurrency Security with Advanced Digital Identification and Robust Multi-Factor Authentication
January 9, 2023: 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, today announced that together with its subsidiary, SEALSQ Corp (“SEALSQ”) (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 new sophisticated digital identification service as part of WISeID platform, at the CES 2024 in Las Vegas, Nevada. This new service is designed to elevate cryptocurrency security using Advanced Digital Identification and Multi-Factor Authentication (MFA) capabilities.
In the dynamic realm of cryptocurrency transactions, security remains paramount. WISeKey and SEALSQ are at the forefront, offering an unparalleled solution that integrates WISeID.com sophisticated digital identification with robust dual-factor authentication, catering specifically to the needs of cryptocurrency enthusiasts and professionals.
Advanced Blockchain Security
Cryptocurrency transactions, inherently secured by blockchain technology, present a formidable challenge for cybercriminals attempting to exploit transactional data. However, the ingenuity of hackers in devising cryptocurrency schemes to extract sensitive information, such as wallet key phrases, necessitates enhanced vigilance.
Elevating Security with MFA
Implementing MFA is a critical defense strategy in safeguarding cryptocurrency wallets and exchanges. MFA fortifies security by necessitating multiple verification methods — ranging from traditional passwords to biometric scans and unique codes generated by specialized mobile applications. This multi-tiered approach significantly mitigates the risk of unauthorized access and fraudulent activities.
Safeguarding Private Keys
The sanctity of an individual's private key, the sole access point to their cryptocurrency investments, cannot be overstated. Experts advocate for the use of hardware wallets, akin to USB devices, which securely store private codes. Such wallets ensure that the private key remains encrypted and never directly interacts with potentially vulnerable online environments. Additionally, duplicating the hardware wallet and securing it in locations like safe deposit boxes offers a fail-safe against key loss.
User-Controlled Digital Identities: The New Norm
In a landscape where data privacy is paramount, digital identities must shift from platform-centric to user-centric models. This paradigm shift empowers users to maintain control over their personal information, ensuring privacy and preventing unauthorized data exploitation by platforms or third parties. Furthermore, this model facilitates identity continuity across various platforms and fosters healthy competition among them, as users can seamlessly transition their digital identities.
WISeID: Pioneering in Trusted Identity Services
WISeID's first-generation technology pioneers as a trusted identity service, streamlining access to web and mobile applications through advanced authentication methods. The service encompasses online KYC onboarding, OTP, digital certificate login, and a revolutionary “hands-free” secure login using QR-Codes. These QR-Codes, readable via the WISeID suite of mobile applications, eliminate the need for typing passwords, thereby enhancing both security and user convenience.
You can download your digital identity at wiseid.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 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.
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