WISeKey selected by IoTeX to Ensure Integrity in Manufacturing by using Secure Semiconductors with Blockchain

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WISeKey selected by IoTeX to Ensure Integrity in Manufacturing by using Secure Semiconductors with Blockchain

The IoTeX platform is already powering the world’s first “private by design” smart devices, such as Ucam (ucam.iotex.io), and will empower other types of devices across smart home, healthcare, and more

 GENEVA, ZUG, SWITZERLAND (September 28, 2020) — WISeKey International Holding Ltd (“WISeKey”) (NASDAQ: WKEY; SIX: WIHN), a global IoT chip manufacturer and cybersecurity leader, announced today that it has partnered with IoTeX, a leading Blockchain-based platform. As partners, WISeKey and IoTeX will work together at the intersection of secure hardware and Blockchain technology to develop the tools for verifiably trusted secure manufacturing.

During manufacturing, the quality of the output depends on the input materials and the processes used in production.  The project will use secure semiconductors to guarantee the authenticity, integrity, and auditability of input materials and processes.  Blockchain entries will be created to ensure authentic materials, process integrity, and the final quality assurance test results. This integration will provide immutable traceability for manufactures to demonstrate the quality and integrity of the products that they produce and is seeing applicability across numerous market verticals.

The WISeKey and IoTeX partnership merges the data authenticity and integrity benefits of tamper-proof secure hardware with the data immutability and decentralization properties of Blockchain. This combined technology extends the quality control guarantees from the common “proof‑of‑output” (i.e. quality assurance) to “proof‑of‑input” and “proof‑of‑process”.  “IoTeX is excited to embark on this journey with WISeKey to bring verifiable trust to manufacturing,” says Raullen Chai, Co-founder of IoTeX. “WISeKey’s expertise in manufacturing and utilizing microchips with built-in secure hardware greatly complements the IoTeX platform and expands the future possibilities of trusted IoT solutions.”

The specific use case is a 3D printer that is Blockchain enabled.  This use case was chosen because all aspects of manufacturing can be demonstrated as Blockchain transactions. The authenticity of inputs are ensured by WISePrint, and the VaultIC ensures the integrity of the process and the quality assurance of the output.  Finally, all data and metadata related to the input and process verification is “time-stamped” to the Blockchain, which acts as an immutable source of record verifiable by all stakeholders. “WISeKey looks forward to extending the reach and capabilities of our microchips to secure manufacturing alongside IoTeX,” says Bernard Vian General Manager of WISeKey Semiconductors. “IoTeX’s domain knowledge in Blockchain and hands-on experience with real-world use cases align perfectly with WISeKey’s vision for enabling traceability in manufacturing.”

WISeKey and IoTeX will demonstrate the co-developed solution in enterprise-focused forums and testbeds, such as the Industrial Internet Consortium (IIC), the world’s leading collective of Industrial IoT organizations focused on product development and testing. For more information, visit https://www.iiconsortium.org/test-beds.htm.

About IoTeXFounded as an open source platform in 2017, IoTeX is empowering the Internet of Trusted Things, an open ecosystem where humans and machines can interact with guaranteed trust, free will, and privacy. Backed by a global team of 30+ top research scientists and engineers, IoTeX combines Blockchain, secure hardware, and confidential computing to enable the next generation of privacy-protecting IoT devices and networks. The IoTeX platform is already powering the world’s first “private by design” smart devices, such as Ucam (ucam.iotex.io), and will empower other types of devices across smart home, healthcare, and more. By serving as a decentralized trust fabric for the Internet of Trusted Things, IoTeX will enable new human-machine economies by “connecting the physical world, block by block”. For more information, visit www.iotex.io.

Press Contact:Larry PangHead of Business Development, IoTeXTel: +1 310 357 4866[email protected]

About WISeKey

WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN, NASDAQ: WKEY) 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.

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, or within the meaning of any other securities regulation. 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.

The securities offered will not be, and have not been, registered under the United States of America Securities Act of 1933, as amended, and may not be offered or sold in the United States of America, absent registration or an applicable exemption from the registration requirements of said Act.

Source: Wisekey International Holding SA