WISeKey Combines Interoperable
Centrally-Managed PKI with Blockchain-Rooted
Trust
In 2020, WISeKey joined Hyperledger, a
multi-venture, multi-stakeholder effort hosted by
the Linux Foundation.
Hyperledger is an open-source community focused on developing a
suite of stable frameworks, tools, and libraries for
enterprise-grade blockchain deployment.
ZUG, Switzerland – February 19,
2020 – WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN,
NASDAQ: WKEY), a leading cybersecurity IoT, blockchain company,
today announced that it has reinforced its architecture with a
decentralized trust, offering security at least as strong as
existing blockchain-based naming systems, yet without sacrificing
the flexibility and performance typically found in centralized
Public Key Infrastructures (PKIs).
This dual Trust Model solves one of the biggest
challenges for the internet, which is to bridge the currently
fragmented trust domains including existing, incompatible national
Root of Trusts (RoTs) used by many governments. By combining RoT
with blockchain, our innovative Trust Protocol enables a wide range
of use cases and business models that simply are not possible by
using just current blockchain-based solutions. This
integration is being deployed with clients operating in sectors
such as: secure sharing of medical data, music royalties tracking,
cross-border payments, real-time IoT operating systems, personal
identity security, anti-money laundering tracking system, supply
chain and logistics monitoring, voting mechanism, advertising
insights, original content creation, cryptocurrency exchange, real
estate processing platform, among others.
The combination of RoT with blockchain generates
a new Trust Protocol by allowing blockchain to scale trusted
transactions with embedded security, ensuring that each transaction
submitted to the blockchain is digitally signed using keys that are
trusted by the RoT and combining a vertical trust process verified
by a reputable Third Trusted Party with the inherent decentralized
trust provided by the blockchain.
One concrete application of this new Trust
Protocol is WISeID Trusted Distributed Ledger Technology of
Identity which provides a secure way to store the identity of
objects and people and offers connected objects the ability to
identify, authenticate and verify each other with a digital
certificate. During each interaction, the Blockchain of Identity
verifies and validates each digital certificate to secure the
interaction.
WISeKey’s blockchain-based solutions aim to
override the need for a central authority by distributing
information previously held in a centralized repository across a
network of participating nodes. While blockchain is not owned by
one individual or organization, anyone with an internet connection
(and access, in the case of private blockchains) can make use of
it, help maintain and verify it. When a transaction is made on a
blockchain, it is added to a group of transactions, known as
“blocks.” Each block of transactions is added to the database in a
chronological, immutable chain. Each block is stamped with a unique
cryptographic code, which ensures that records are not
counterfeited or changed. The blockchain approach lacks legal
validity in most jurisdictions, which only recognize the digital
signatures as equally valid that manuscript signatures when
generated using traditional PKI technology.
A user-controlled digital identity typically
starts with a number, unique to an individual, that is associated
with a public key for which the user has the private key issued by
the OISTE/WISeKey Crypto Graphic RootKey. The WISeID Network is a
most deployed standard for digital identity operating since 1998 by
a non-profit organization – OISTE.ORG – designed to bring the
neutrality, trust, consent, personal control, and ease-of-use of
Digital IDs to the internet.
RoT is a source that can always be trusted
within a cryptographic system. A principal example is a Trusted
Certification Authority (CA) which generates digital certificates
that can be used for legally binding signed electronic
transactions. The traditional PKI does not fit well with the
heterogeneous blockchain distributed trust model that leverages the
existing trust domains and bridges them to create end-to-end trust
between them without relying on any common RoT.
About WISeKeyWISeKey (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. 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) Contact: Lena Cati The Equity Group Inc.
Tel: +1 212 836-9611
lcati@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, 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.
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