WISeKey Welcomes Confederation’s Decision to Establish the “Swiss Government Cloud” by 2026
WISeKey International Holding welcomes the Swiss Federal Council's decision to establish the 'Swiss Government Cloud' by early 2026. This independent digital infrastructure will support the digital transformation of Switzerland's federal government and local governmental bodies, with a budget of approximately 319.4 million Francs. The initiative underscores Switzerland's emphasis on digital sovereignty and leveraging data-based innovation.
WISeKey, a leader in cybersecurity, digital identity, and IoT, has been operating its WISeID Cloud Storage service since 2019, utilizing advanced technologies to secure data and ensure privacy. The company proposes a partnership with local businesses for a robust and sovereign cloud ecosystem, integrating AI and blockchain solutions.
Switzerland's political neutrality, strict data protection laws, and geographical security make it an ideal data hub. WISeKey leverages these advantages by operating high-security data centers in the Swiss Alps, storing cryptographic root keys to maintain data integrity and confidentiality.
- Swiss Government Cloud establishment backed by 319.4 million Francs.
- Completion expected by early 2026, aiding Switzerland's digital transformation.
- Initiative supports digital sovereignty and data-based innovation.
- WISeKey leveraging Switzerland's neutrality and strict data protection laws.
- High-security data centers in Swiss Alps for storing cryptographic root keys.
- WISeKey's WISeID Cloud Storage service launched in 2019, enhancing data security.
- Partnership proposal with Swiss companies to strengthen technological independence.
- Long timeline with completion projected for early 2026.
- High investment cost of 319.4 million Francs.
- Potential risks in executing a large-scale digital infrastructure project.
Insights
WISeKey's participation in the Swiss Government Cloud project represents a significant financial opportunity for the company. The estimated cost of
Investors should consider the potential long-term growth from these government contracts, as well as the company’s ability to leverage its existing technologies, like the WISeID Cloud Storage service, to meet new demands. However, they should also be aware of the risks associated with large-scale government projects, such as potential delays and budget overruns. Additionally, WISeKey's heavy reliance on its cryptographic root key technology, while innovative, may face challenges as blockchain-based trust models evolve.
This initiative is aligned with Switzerland's digital sovereignty strategy, which emphasizes data protection and technological independence – both of which are areas where WISeKey already has significant expertise. This positioning may attract further investments and partnerships within the Swiss and EU tech ecosystems.
WISeKey's involvement in the Swiss Government Cloud initiative leverages its core competencies in cybersecurity and digital identity. By utilizing advanced encryption techniques and secure data storage in the Swiss Alps, WISeKey ensures the integrity and confidentiality of critical cryptographic root keys. These keys are pivotal for enabling secure digital transactions and communications.
The emphasis on integrating AI and blockchain technologies to optimize data-driven innovation is notable. While traditional Public Key Infrastructure (PKI) systems do not align well with blockchain's distributed trust models, WISeKey’s approach of bridging existing trust domains is innovative. It aims to create an end-to-end trust framework without the reliance on common Roots of Trust (RoT), addressing a critical need in modern cybersecurity.
This initiative also underscores the importance of digital sovereignty. Switzerland's strict data protection laws and the geographical security offered by mountain facilities make it an ideal hub for secure data storage. This strategic advantage not only enhances WISeKey’s market position but also supports broader efforts to fortify national cybersecurity infrastructure.
WISeKey is at the forefront of leveraging Switzerland as a central hub for data storage, including utilizing mountain facilities to store cryptographic root keys (https://lnkd.in/eJEmFn96).
Geneva, Switzerland – May 28, 2024: WISeKey International Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a global leader in cybersecurity, digital identity, and Internet of Things (IoT) innovations, operating as a holding company, today welcomes the Confederation’s decision to establish the “Swiss Government Cloud,” as announced by the Federal Council on May 22, 2024.
The independent digital cloud infrastructure is expected to have a total cost of approximately 319.4 million Francs, aims to drive forward the digital transformation of the federal government in Switzerland. The system which will be ready for use by early 2026, will also be available to local governmental offices: cantons, cities, and municipalities.
In 2023, digital sovereignty was identified as one of the three priority themes in the Swiss Federal digital strategy, with one of the first measures being the definition of the term. The document emphasizes that digital sovereignty is not only about protecting data or technological independence, but also about leveraging data-based innovation and maintaining self-determination.
WISeKey emphasizes Switzerland's potential to establish future-oriented skills that have an impact far beyond its borders and to build international trust. As a concrete measure of support, WISeKey already operates a Swiss-EU-based WISeID Cloud Storage service via www.wiseid.com. Launched in 2019, WISeKey's WISeID Cloud platform was built using WISeKey’s digital certificates and other innovative technologies.
The evolution of the WISeID Cloud Storage service represents an increased focus on cloud services and integration with internet applications, enabling customers and partners to adopt the WISeID ecosystem for digital identity to secure access to online services. A user-controlled digital identity typically starts with a number, unique to an individual, associated with a public key for which the user holds the private key issued by the OISTE/WISeKey Crypto Graphic Root Key.
The WISeID Network is a widely deployed standard for digital identity operated since 1998 by a non-profit organization – OISTE.ORG – designed to bring neutrality, trust, consent, personal control, and ease of use of Digital IDs to the internet.
The Root of Trust (RoT) is a source that can always be trusted within a cryptographic system. A principal example is a Trusted Certification Authority (CA) that generates digital certificates which can be used for legally binding signed electronic transactions. The traditional PKI does not fit well with the heterogeneous blockchain distributed trust model, which leverages existing trust domains and bridges them to create end-to-end trust between them without relying on any common RoT.
To develop this infrastructure and ensure its success, WISeKey proposes a partnership with Swiss companies recognized for their independence and technological capabilities. The Company invites local businesses to collaborate to establish a robust, secure, and sovereign cloud computing ecosystem in Switzerland, working together to:
- Leverage advanced technologies to secure data and ensure privacy.
- Integrate AI and blockchain solutions to optimize data-driven innovation.
- Strengthen Switzerland’s technological independence by utilizing local solutions.
- Support Switzerland's digital sovereignty and transformation.
Collaboration among Swiss technology leaders is essential to create a state-of-the-art digital infrastructure to not only achieve Switzerland's ambitious goals, but also establish a model of success for the rest of the world.
WISeKey is at the forefront of leveraging Switzerland as a central hub for data storage, including utilizing mountain facilities to store cryptographic root keys, as showcased in this video: https://lnkd.in/eJEmFn96.
WISeKey capitalizes on Switzerland's geographical and political advantages by operating high-security data centers in the Swiss Alps. These unique mountain facilities provide an ideal environment for storing critical data and cryptographic root keys. The natural conditions and robust infrastructure ensure maximum security and availability.
Why Switzerland as a Data Hub?
Neutrality and Stability: Switzerland's political neutrality and stability make it an ideal location for storing sensitive data. Companies worldwide trust the secure environment provided by the country.
Strict Data Protection Laws: Switzerland has some of the strictest data protection laws globally. These legal frameworks protect data from unauthorized access and guarantee user privacy.
Geographical Security: The location in the Swiss Alps offers natural protection against physical threats. The mountain facilities are largely immune to natural disasters such as earthquakes and floods.
State-of-the-Art Technology: WISeKey employs cutting-edge technologies and infrastructures to ensure the security and reliability of its services. This includes advanced encryption techniques and redundant systems to ensure data availability.
Cryptographic Root Keys in Mountain Facilities
Cryptographic root keys are a cornerstone of digital security. They serve as a trust anchor in a cryptographic system, enabling secure transactions and communications. WISeKey stores these critical keys in highly secure mountain facilities to ensure their integrity and confidentiality.
A video demonstrating how WISeKey utilizes these unique mountain facilities to meet the highest security standards is available at https://youtu.be/ZKzQvWHZJB4?si=lmBQOOenNmlIj7E6 . The video provides a fascinating insight into the high-security facilities and the advanced technologies employed by WISeKey.
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 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 |
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
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