Press Release: WISeKey Subsidiary SEALCOIN AG Unveils New SEALCOIN.AI Website and Announces SEALCOIN Platform Development Update
WISeKey Subsidiary SEALCOIN AG Unveils New SEALCOIN.AI Website and Announces SEALCOIN Platform Development Update
Zug, Switzerland -- November 11, 2024 -- WISeKey International Holding Ltd. ("WISeKey" or the "Company") (SIX: WIHN, NASDAQ: WKEY), a global leader in cybersecurity, digital identity, and Internet of Things (IoT) innovations operating as a holding company, today announced that its subsidiary SEALCOIN AG has launched the official SEALCOIN platform website, SEALCOIN.AI. This new website will serve as a key informational hub as SEALCOIN progresses toward the full-scale development of its Decentralized PhysicalInternet (DePIN) platform and prepares for a major project milestone: the initial production release of the SEALCOIN platform, a groundbreaking system that facilitates secure, decentralized IoT transactions using the advanced Hedera Hashgraph technology.
Focused Development of the SEALCOIN Platform
The SEALCOIN platform, now in an advanced phase of development, is designed to enable secure, scalable, and autonomous transactions among IoT devices across industries. Built on the highly efficient Hedera Hashgraph, the platform aims to address core challenges in IoT connectivity, security, and data integrity. By providing decentralized transaction capabilities, SEALCOIN seeks to redefine the potential of IoT ecosystems.
The next major delivery milestone for SEALCOIN is a Beta release as a Minimum Viable Product (MVP) on the Hedera TestNet, expected in Q1 2025. The Beta version will enable developers and early adopters to interact with the core functionalities of the platform, including real-time decentralized IoT transactions, testing the platform's performance, scalability, and interoperability with other systems. The SEALCOIN team aims to leverage this Beta testing phase to gather valuable user feedback, refine platform features, and validate its foundational protocols.
Key Features Under Development for the SEALCOIN Platform:
-- DePIN Framework: SEALCOIN's unique DePIN approach will provide IoT devices with the ability to conduct autonomous, secure transactions, laying the groundwork for a globally connected, self-sustaining IoT ecosystem. -- Hedera Hashgraph Integration: Using Hedera's high-throughput, low-latency framework, SEALCOIN platform aims to deliver secure, scalable solutions for industries reliant on real-time data exchange among IoT devices, such as logistics, healthcare, and smart cities. -- Device Tokenization and Non-Custodial Wallets: SEALCOIN platform enables the tokenization of IoT devices, allowing each device to participate in autonomous, secure transactions using Transactional-IoT (TIOT) tokens. This feature links devices to non-custodial wallets, granting device owners full control and ensuring secure, decentralized settlements. -- Online Generation of Authentication Certificates: SEALCOIN platform offers the ability to generate Authentication Certificates online, providing each IoT device with a unique digital identity and ID attributes. This feature ensures that all devices interacting within the SEALCOIN ecosystem are securely authenticated and uniquely identifiable, enhancing trust and security across decentralized transactions.
Upcoming SEALCOIN Whitepaper and Tokenomics
In addition to the platform development, SEALCOIN's whitepaper is available and includes technical and operational roadmap. This document gives full detail on SEALCOIN's tokenomics, including token allocation, distribution, and vesting schedules, along with the token's dual role as both a utility and payment instrument within the SEALCOIN ecosystem. The whitepaper also includes SEALCOIN's governance framework, ensuring that its stakeholders are informed and engaged in the platform's development journey.
Mid-2025: Platform Production Release and Token Issuance
Following the TestNet phase, SEALCOIN is on track for a production release and formal token issuance in mid-2025, paving the way for a new era of decentralized IoT transaction capabilities. This will mark the point at which SEALCOIN transitions into full operational status, ready for widespread industry adoption. SEALCOIN aims to list its token on a digital exchange by Q3 2025, ensuring liquidity and accessibility for global stakeholders.
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, (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.
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.
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
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November 11, 2024 09:40 ET (14:40 GMT)
