WISeKey is a Swiss cybersecurity company preparing to release a cryptocurrency platform called WISeCoin. Find out how it works today in our review.
What Is WISeKey?
WISeKey, found online at WISeKey.com, is a Switzerland-based cybersecurity and IoT solutions company. The company is formally organized under the name WISeKey International Holding Ltd.
This past week, the company announced the launch of its World Internet Secure Coin, or WISeCoin platform. That platform will allow companies to launch their own cryptocurrencies in an interoperable environment. It’s not a specific cryptocurrency; instead, it’s a cryptocurrency management platform that anyone can use to launch their own cryptocurrencies.
In addition to its blockchain technology, WISeKey offers products and services like AI solutions, WISeKey QuoVadis, WISeKey semiconductors, mobile technologies, and more.
How Does WISeCoin Work?
WISeCoin will use the latest blockchain technology while working as part of a payment system. That payment system will use WISeKey’s Blockchain as a Service (BaaS) technology.
WISeKey will also offer solutions like a biometrics-driven hardware wallet, an integrated exchange platform, blockchain-based semiconductors, and NFC-based contactless payment solutions.
WISeKey’s long-term goal with WISeCoin is, according to the initial press release, “to become an emerging powerhouse in the global cryptocurrency market by supporting the development of economies built on blockchain technology.”
With that goal in mind, WISeKey is already working with several governments to enhance their existing cooperation on identity management, vehicle and land registration, lifecycle management, and other services. WISeKey is also helping these countries develop their own blockchain-based cryptocurrencies. These countries could launch a cryptocurrency – say, the CryptoFranc in Switzerland – to enjoy benefits like faster processing, improved security, and reduced transaction costs. WISeCoin will be the platform that lets them launch these cryptocurrencies.
As the announcement explains, “Blockchain-enabled cryptocurrency has the potential to usher in a new era of individual and corporate commerce.”
Some of the regions already working with WISeKey include Andhra Pradesh in India, where WISeKey is helping the state implement Public Key Infrastructure (PKI) to control vehicle registration registries. WISeKey is also working with Rwanda to implement the WISeFarmers initiative, a registration solution to reduce counterfeiting in land title registries.
WISeKey will add its CertifyID technology to each WISeCoin, which means each coin will have an integrated digital identity. CertifyID will act as a digital identity dual factor authentication-based technology that sits on top of a blockchain. That means enhanced security and better identity verification for WISeCoin users.
How WISeKey World Internet Secure Coin Blockchain Works
WISeKey’s WISECoin payment solution is based on the company’s own native blockchain.
The WISeKey blockchain relies on WISeID nodes. Each node gets a copy of the WISeKey blockchain, and that blockchain is downloaded automatically upon joining the WISeID network.
Using the WISeID blockchain app, users can remain in constant control of their digital identity stored on their mobile device, IoT sensor, or computer. The user is the only person who determines which data – like personal identifying data and financial data – gets stored with social media, credit cards, merchant sides, etc.
In other words, WISeKey’s blockchain is dedicated to secure identity storage. The blockchain will securely store your personal data. Then, you can selectively share that data with whomever you wish.
The heart of the WISeKey blockchain is the OISTE-WISeKey Cryptographic Root of Trust. This has been used since 1999 to secure various consumer electronic devices and identities.
You access the WISeKey blockchain using the WISeID Personal Cloud, which is an app available for iPhone, iPad, and Android.
In addition to offering consumer identity solutions, WISeKey is helping corporations and governments implement blockchain technology into their day-to-day operations. Beyond the land title registries and vehicle management systems mentioned above, WISeKey is working to launch IoT applications for corporations on the blockchain, private key encryption solutions, and more. WISeKey has partnered with Microsoft and IBM to implement these solutions.
WISeCoin Token Conclusion
WISeKey is a leading global cybersecurity company based in Switzerland. Earlier this week, the company announced the launch of its WISeCoin cryptocurrency platform. That cryptocurrency platform will allow users – including countries and corporations – to launch their own highly-secure cryptocurrencies.
To learn more about WISeKey and how it plans to disrupt today’s cryptocurrency industry, visit online today at WISeKey.com.