Press Release : WISeKey develops WISeToken utility token, a blockchain-based asset for drones and robots to secure IoT interactions (drone-to-drone or people-to-drone), recognize and trust each other

 
   WISeKey develops WISeToken utility token, a blockchain-based asset for 
drones and robots to secure IoT interactions (drone-to-drone or 
people-to-drone), recognize and trust each other 
 
   WISeTokens will not be listed on secondary markets, will not be 
subjected to price fluctuations, and will be sold on a fixed price basis 
 
   Geneva -- January 13, 2020 - WISeKey International Holding Ltd 
("WISeKey", SIX: WIHN / Nasdaq: WKEY), a leading cybersecurity, AI and 
IoT company, today announced that it has developed WISeToken utility 
token, a blockchain-based asset to be used by drones and robots to 
secure IoT interactions (drone-to-drone or people-to-drone) and to 
recognize and trust each other. The WISeKey Validation Service (the 
certificate's validation authority), using the WISeKey Public Key 
Infrastructure, analyses WISeToken digital certificates to recognize and 
trust the identity of the drone and other parties these drones interact 
with, and mitigate malicious actors and hackers from compromising 
interactions. 
 
   According to the FAA 
https://www.globenewswire.com/Tracker?data=0tfsRohbQTnFyNdsyo9mATMFXmVrXxZ8oErulzlA4WvDFp4xRgfL_g6SXeOL77HfvT09j3Gu1tv_8Pb6Ncwc6KknEe4iLznR8NFRJw2tZGml-fVvDiX8k9H8ARK_0_YcSazWSU6wknzqKS6tqxNkuXhK7O2yu7rhRINzTfFIpkBaEZqWVtE0ksRxS7K6ECGn 
,  commercial and recreational drone market continues to increase. The 
number of commercial drones in use in the U.S. is expected to reach 
835,000 aircraft in use by 2023.   Commercial drones, which are used for 
research, pilot training, filming, building inspection and a slew of 
other professional activities, are typically more expensive and robust 
than the model aircraft used by hobbyists. The number of recreational 
drones in use across the U.S. is expected to reach 1.4 million by 2023. 
 
   WISeKey offers a service to authenticate and validate each drone to 
allow the exchange of information or value with each other. This 
Tokenization capability is a way to answer the regulatory FAA's Remote 
ID requirement that will require every drone sold in the U.S. that 
weighs more than 0.55 pounds to be equipped with secured and trusted 
capabilities to broadcasts its location and identification to local 
authorities. One way to think of the technology is as a digital license 
plate for drones. 
 
   WISeTokens are sold directly by WISeKey as a utility token and generates 
revenue as a hybrid product/service offering. WISeTokens will not be 
listed on secondary markets, will not be subjected to price fluctuations, 
and will be sold on a fixed price basis. 
 
   The WISeKey Validation Service offer objects the ability to send the 
validation authority the third party's Public Key and the Digital 
Certificate for validation. WISeKey checks that the corresponding Public 
Key holds a valid WISeToken and if so, the identity is verified. In 
order to get the verification, the object making the request needs to 
hold at least 1 WISeToken in its wallet, which is valid for 12 months or 
100 requests. WISeKey can, over time, adjust the number of utility 
tokens required to get verified, the longevity of the token and entitled 
verifications per token. 
 
   The WISeKey Validation Service is used for the verification of the 
validity of digital identity of the drone in real time, thus ensuring 
secure use of digital identities for authentication of any drone 
connected to the internet and the activation of attributes such as 
digital signing, transactions, or sending data. 
 
 
 
   The WISeKey Validation Service is suitable for all e-services that can 
be used with a WISeToken. Each validation will be charged with a 
WISeToken that will represent a fraction of the transaction validation 
fee equivalent to 0.001 cents of dollar. 
 
   The WISeKey platform is Blockchain neutral and allows Blockchain 
configurations to benefit greatly by the use of secure private keys 
instead of public keys currently used.  Private keys secure data and 
transactions which can be only conducted between authenticated parties 
-- thus making it a very viable option for any sort of IoT transaction 
imaginable. Drones equipped with WISeKey's Secure Element, called 
VaultIC184, consists of a tamper resistant silicon chip, based on a 
state-of-the-art secure microcontroller chip which can be easily 
integrated to the device by its manufacturers. 
 
   For more information on WISeKey's IoT security offerings please visits: 
https://www.globenewswire.com/Tracker?data=JJFM2TDrl34acvH27dJTl3lPwLWmpRVFfBmyMrwQISZ0iq-1z8TiQPoX33aTbpCEARqiui6wrlcV5seledoF8dXn8WaH5JcqHbQh06lRGluQRjVWOv7aJiFqtW0cA7lKxb0nEpw2jSP-FwPMVDSDPu6_ASnRXr_5hVBhrs1vgpYTuYjFWw1hnKEEdFH_-ghPdN2A5w_hzkQLKA082X9t1lDhX8iadf_MuuM4W2vLadw= 
https://www.wisekey.com/solutions/iot-connected-devices/iot-security/ 
 
   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 secure the pervasive computing shaping today's Internet 
of Everything. WISeKey IoT has an install base of over 1.5 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  WISeKey Investor Relations (US) 
 Company Contact: Carlos Moreira    Contact: Lena Cati 
 Chairman & CEO                     The Equity Group Inc. 
 Tel: [phone]               Tel: [phone] 
 [e-mail]                   [e-mail] 
---------------------------------  ------------------------------- 
 
   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. 
 
 
 
 

(END) Dow Jones Newswires

January 13, 2021 12:00 ET (17:00 GMT)