WISeKey International Holding SA / WISeKey IoT Blockchain Technology to be Deployed in Selected SmartCities in China WISeKey IoT Technology Already Operational in Nanjing SmartCity . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.
WISeKey IoT Blockchain Technology to be Deployed in Selected SmartCities in China
WISeKey IoT Technology Already Operational in Nanjing SmartCity
Geneva, October 25, 2017- WISeKey International Holding Ltd ("WISeKey"- SIX:WIHN), a leading cybersecurity company today announced its progress on the WISeKey China Blockchain Centre of Excellence which aims to deploy a Trusted Blockchain as a Service platform in the country with special focus to IoT, Smart Cars and Smart Cities projects.
WISeKey began deploying IoT Blockchain projects in China after a delegation from the Beijing INTO Global Business Communications, a company that connects Chinese tech investors with global innovative companies, and also senior executives from CITIC Fund, Ventureslab, Sinodata, Insightcredit, Chinese Youth Angel Association, Weshare Finance, and Joy Capital visited its headquarters in Switzerland in December 2016, having as a goal the establishment of a joint Swiss China Blockchain Centre of Excellence.
Since then, WISeKey has been cooperating with experts in industry, government, and academia to address businesses' most relevant Blockchain developments with practical, standards-based solutions using available Blockchain technologies.
The China Blockchain Centre of Excellence, has developed a Blockchain Platform that facilitates the swift adoption and on-boarding of Blockchain-based solutions and services. The Centre aims to deploy a Trusted Blockchain as a Service platform in the country with special focus on IoT, Smart Cars and Smart Cities projects. WISeKey and its China partners are performing research, rapid pilot prototyping, co-creation of use cases and IP creation on Blockchain technology and platforms.
China's ban on initial coin offerings (ICO) is considered in the country as a necessary move to stop illegal fundraising and pyramid schemes, but there is common understanding that this should not stop government and private organizations from studying and implementing blockchain technology especially in industrial applications such as Smart Cars, Smart Cities and 4th Industrial Application related projects. At the same time, China is moving ahead with its plan of becoming the first country in the world to offer its own digital cryptocurrency based on Blockchain technology, following successful trials. WISeKey and its China partners aim to take advantage of substantial opportunities arising from these projects.
In addition to China, WISeKey is working with governments entities and organizations around the world to enhance their existing cooperation on identity management, vehicle and land registration, lifecycle management, and to develop their own cryptocurrencies using Blockchain technology. These cryptocurrencies can enable financial transactions that offer multiple advantages, including faster processing, improved security, and reduced transaction costs. Blockchain-enabled cryptocurrency has the potential to usher in a new era of individual and corporate commerce.
WISeKey has partnered with Microsoft and IBM for BaaS solutions, as well as with other companies Lykke, Stratumn, BigchainDB. Using its partner ecosystem, WISeKey is well positioned to address different kinds of Blockchain requirements for global corporations.