Press Release: SEALCOIN AG Announces Final SEALCOIN Timeline, Whitepaper Release, and Tokenomics Details
SEALCOIN AG Announces Final SEALCOIN Timeline, Whitepaper Release, and Tokenomics Details
Geneva, Switzerland -- September 26, 2024: WISeKey International Holding Ltd. ("WISeKey" or the "Company") (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity and IoT company operating as a holding company, today announced that its subsidiary Sealcoin AG, which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform, is announcing the final timeline for the SEALCOIN project, including the highly anticipated release of its whitepaper in October 2024. The whitepaper will unveil the strategic vision, technical roadmap, and comprehensive tokenomics of SEALCOIN, marking a major milestone in the platform's development.
Key Milestones and Timeline:
1. Proof of Concept (PoC): Successfully executed on July 25, 2024, demonstrating the platform's ability to facilitate secure, autonomous IoT transactions. 2. Pre-Seed Investment: Raised $2 million in mid-2024, positioning SEALCOIN for accelerated growth and development. 3. FINMA Application: SEALCOIN AG is about to submit its application to the Swiss financial regulator FINMA, ensuring full regulatory compliance as the project advances. 4. Platform Development: Officially launched in Q3 2024, the SEALCOIN platform's development is underway, leveraging Hedera Hashgraph technology for enhanced scalability and security. 5. Platform Production Release and Token Issuance: The SEALCOIN platform will go live, and the token will be officially issued, expected in mid-2025. 6. Token Listing: SEALCOIN is targeting a digital exchange listing by Q3 2025, to provide liquidity and accessibility for token holders worldwide.
Whitepaper Release in October 2024
The SEALCOIN whitepaper, set to be released in October 2024, will provide an in-depth look at the platform's technical architecture, governance model, and tokenomics. The document will outline SEALCOIN's approach to enabling secure, decentralized, and autonomous transactions between IoT devices, powered by Hedera Hashgraph. Detailed tokenomics will include the allocation and distribution structure, vesting schedules, and SEALCOIN's role as both a utility and payment token within the platform.
The SEALCOIN Platform and Token Beta Version will be released as an MVP (Minimum Viable Product) on Hedera's TestNet in Q1 2025. This milestone will allow users and developers to test SEALCOIN's core functionalities in a controlled environment, showcasing the platform's decentralized transaction capabilities between IoT devices and ensuring the smooth operation of the SEALCOIN token within the ecosystem before the full production release, set in Summer 2025.
Carlos Moreira, CEO of SEALCOIN AG, commented, "With our PoC successfully completed and development in full swing, we are excited to share our roadmap and vision for the future of IoT transactions. The upcoming whitepaper will provide the community with full transparency on our tokenomics and the strategic steps we're taking to achieve full decentralization."
About SEALCOIN
SEALCOIN is a decentralized platform designed to facilitate secure, autonomous transactions between IoT devices. Built on Hedera Hashgraph, SEALCOIN allows devices to engage in seamless service-for-payment exchanges without the need for intermediaries. With a focus on privacy, scalability, and decentralized governance, SEALCOIN is poised to revolutionize the Internet of Things (IoT) landscape.
About WISeKey
WISeKey International Holding Ltd ("WISeKey", SIX: WIHN; Nasdaq: WKEY) is a Swiss-based computer infrastructure company specializing in cybersecurity, digital identity, blockchain, Internet of Things (IoT) solutions, and post-quantum semiconductors. As a computer infrastructure company, WISeKey provides secure platforms for data and device management across industries like finance, healthcare, and government. It leverages its Public Key Infrastructure (PKI) to ensure encrypted communications and authentication, while also focusing on next-generation security through post-quantum cryptography.
WISeKey's work with post-quantum semiconductors is aimed at future-proofing its security solutions against the threats posed by quantum computing. These advanced semiconductors support encryption that can withstand the computational power of quantum computers, ensuring the long-term security of connected devices and critical infrastructure. Combined with its expertise in blockchain and IoT, WISeKey's post-quantum technologies provide a robust foundation for secure digital ecosystems at the hardware, software, and network levels.
WISeKey operates as a 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, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.
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.
Press and Investor Contacts
WISeKey International Holding WISeKey Investor Relations (US) Ltd The Equity Group Inc. Company Contact: Carlos Moreira Lena Cati Chairman & CEO Tel: +1 212 836-9611 / lcati@equityny.com Tel: +41 22 594 3000 Katie Murphy info@wisekey.com Tel: +1 212 836-9612 / kmurphy@equityny.com -------------------------------- --------------------------------------------
(END) Dow Jones Newswires
September 26, 2024 01:00 ET (05:00 GMT)
