WISeKey Presented at the Davos Blockchain Hub Progress Made on the Deployment of its WISeID Metaverse

Rhea-AI Summary

WISeKey International Holding Ltd presented progress on its WISeID Metaverse at the Davos 2023 Event on January 18, 2023. The mission is to create a secure, open-source identity engine for interoperable identities and crypto wallets. Collaboration with OISTE.ORG aims to establish best practices in digital identity technology. CEO Carlos Moreira highlighted that digital identities can enhance avatars, enabling user control and secure transactions in the metaverse. The WISeID system offers features like strong authentication, digital signatures, and integration with major standards, aiming to enhance user privacy and autonomy.

Positive

• Launch of WISeID Metaverse at Davos 2023 indicates strong strategic direction.
• Collaboration with OISTE.ORG enhances credibility in the digital identity space.
• Innovative security features of WISeID improve user privacy and control.

Negative

• None.

WISeKey Presented at the Davos Blockchain Hub Progress Made on the Deployment of its WISeID Metaverse

Video at https://youtu.be/AoNds8lMbCY

Geneva – Davos - January 23, 2023 - WISeKey International Holding Ltd (“WISeKey “) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, Blockchain and IoT platform company, discussed progress made on the development of the WISeID Metaverse during its Davos 2023 Event, held on January 18, 2023.

The WISeID Metaverse mission is to develop a trusted, secure, multi-purpose open-source engine anyone can use to build interoperable identities and crypto wallets under the user control and consent.

WISeKey is working with OISTE.ORG and several blockchains to set best practices for digital identity and crypto wallet technology through collaboration on open-source code which can be used as a starting point for anyone who strives to build interoperable, secure, and privacy-protecting ID metaverse. 

At the event, Carlos Moreira, WISeKey’s Founder and CEO discussed how digital identities enhanced Avatars will allow us to navigate the metaverse using its WISeID technology delegating the Company’s presence on the Metaverse to authenticated versions of ourselves created via machine learning that would navigate and do all sorts of transactions on our behalf.

Digital identities should be under user control, rather than platform control for several reasons:

• Users have the ability to keep their personal information private and secure. Platforms, on the other hand, may use user data for their own gain or share it with third parties without the user's consent.
• Users maintain continuity of their identity across different platforms, rather than being forced to create multiple identities on different platforms.
• Promotes competition among platforms, as users will be able to easily move their identity from one platform to another.
  
  

WISeID first generation acts as a trusted identity service that enables access to the web and mobile applications with strong authentication techniques. WISeID supports online KYC onboarding, OTP and digital certificate login, and an innovative “hands-free” secure login based on QR-Codes which users can read using the WISeID suite of mobile applications without even having to type any passwords.

WISeID is an innovative approach to people’s identity able to protect online interactions for individuals and companies. WISeID provides users with a Digital Identity that can be used to secure email communication, digitally sign documents with legal validity and it’s complemented with features such as dual factor authentication and single sign-on. WISeID is based on the WISeKey/OISTE Root of Trust and integrates innovative blockchain technologies to distribute the identity attributes and build federated ecosystems. WISeID supports online KYC onboarding, OTP and an innovative “hands-free” secure login based on QR-Codes which users can read using the “My WISeID” mobile application without even having to type any password. Additional security services include digital signature services for documents

Additional security services include digital signature services for documents. WISeID implements standards such as OpenID Connect and OAUTH2, that can be easily integrated by customers to enhance the security of their cloud applications. WISeID can also be combined with Microsoft Active Directory, facilitating integration with corporate applications.

The WISeID second generation Digital Identities in Metaverse includes an identification module that its built into the protocol, while supplementary applications will be developed. Users will have autonomy over their identity meaning that they are in full control of their personal identification information and hence need not to rely on any central entity or third party for identity verification. With a truly NFT identity, users can create, sign and verify claims, while parties who interact with a user will be able to prove their identity. Additionally, users will be able to selectively disclose their information.

Users can establish a reputation on Metaverse through digital identities, improving the way we exchange value. Value is exchanged through digital signatures, requests for verification and transactions; these transactions then allow a user to gradually build a reputation which can be inspected and verified by other digital identities and value intermediaries. You can download your ID from WISeID.com.

About WISeKey:

WISeKey (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 Secures the pervasive computing shaping today’s Internet of Everything. WISeKey IoT has an install base of over 1.6 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:

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

WISeKey Investor Relations (US) Contact: Lena Cati The Equity Group Inc. Tel: +1 212 836-9611 lcati@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 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.

FAQ

What is the WISeID Metaverse presented by WKEY?

The WISeID Metaverse is an initiative by WISeKey to create a secure, open-source engine for managing interoperable digital identities and crypto wallets.

When was the WISeID Metaverse discussed?

The WISeID Metaverse was discussed at the Davos 2023 Event on January 18, 2023.

How does the WISeID system enhance user privacy?

The WISeID system provides users with control over their personal information, allowing them to maintain their identity across platforms and reducing reliance on third-party verifications.

Who is leading the WISeID Metaverse initiative?

Carlos Moreira, the CEO of WISeKey, is leading the WISeID Metaverse initiative.

What security features does WISeID offer?

WISeID offers strong authentication, digital signatures, and supports online KYC onboarding to enhance security.