WISeKey Integrates QuoVadis SuisseID Digital Identity into WISeCoin Wallet by Providing a KYC based Identity Crypto Token

WISeKey Integrates QuoVadis SuisseID Digital Identity into WISeCoin Wallet by Providing a KYC based Identity Crypto Token

ZUG, GENEVA, Switzerland – February 21, 2018 – WISeKey International Holding Ltd (WISeKey) (SIX:WIHN), a leading Swiss cybersecurity and IoT solutions company, today announced that it has integrated the QuoVadis SuisseID Digital Identity (https://www.quovadisglobal.ch/Dienstleistungen/SigningServices/SuisseID%20Signing%20Service%20by%20QuoVadis.aspx) into the WISeCoin Wallet to enable cloud based qualified signing capabilities, by providing a  ‘Know Your Customer’ (KYC) based Identity Crypto Token.

The SuisseID Signing Service from WISeKey QuoVadis is now available on the WISeCoin Wallet and can be used to create legally binding qualified electronic signatures in Switzerland without using a smart card or a USB token. This user-friendly service enables flexible signature and workflow processes on mobile and local devices, as well as, central application platforms.  SuisseID is available on the WISeCoin App as a KYC feature and it is used to obtain relevant identifying information about the WISeCoin Wallet user. KYC is an important part of an overall effort by WISeKey to help regulate the cryptocurrency space.  

WISeCoin Wallet provides users with contactless access to their private key and allows them to make contactless transactions and payments. WISeCoin Wallet uses a combination of Near Field Communication (NFC) technology with highly secured solutions provided by the WISeKey Semiconductors and is now available through the WISeWallet App. Every time a contactless Blockchain transaction is made, such as a Bitcoin transaction, the private key is fetched from the NFC hardware storage to enable the transaction.

While the exchanges and software wallets continue to get hacked, the hardware wallets have gained popularity as they are providing the most secure solution for transaction and payments. Through the WISeCoin Wallet, hardware wallets have now become contactless and users can establish multiple private keys into the secure store using the same WISeWallet App and access these private keys while making transactions in contactless mode.

The WISeWallet App is compatible with most of the existing blockchain technologies and works as part of payment system using WISeKey Blockchain-as-a-Service (“BaaS”) technology offerings. To empower a seamless cryptocurrency enabled economy, WISeCoin is supplemented with additional highly secured WISeWallet solutions (biometrics enabled variants also available), integrated exchange platforms, NFC-based contactless payment solutions, etc. WISeKey’s objective is for WISeCoin to become an emerging powerhouse in the global cryptocurrency market by supporting the development of economies built on Blockchain technology.

Recently, digital identity has been a hot topic in the news in Switzerland as part of the country’s plans for digital transformation.  The market has announced a new program called SwissID, a private Initiative to enable a more widespread adoption of authentication capabilities. In addition, plans are afoot for a new eID law to be debated in the Federal Parliament in 2018.  Individual cantons are also discussing launching their own digital identity programs, such as Zug’s plan to create a blockchain-based identity for its citizens. SuisseID (French spelling), launched in 2010 remains the only state-recognized digital identity in Switzerland whereas SwissID (English spelling) is a private initiative to promote widespread authentication for eCommerce applications. QuoVadis Trustlink Schweiz AG has long established itself as a pioneer in the digital identity sector in Switzerland as a Qualified Trust Service Provider and issuer of the SuisseID since 2010.

The Qualified Electronic Signature is at the heart of the value provided by SuisseID, providing legal equivalence to a traditional handwritten signature and allowing even important consents and transactions to be conducted entirely online.



WISeKey QuoVadis recently enabled a qualified electronic signature solution for modum.io AG, which offers an alternative supply-chain solution for the medicinal sector using blockchain and IoT technology.  modum.io uses WISeKey QuoVadis’ qualified electronic signature to help facilitate onboarding interested parties in a recent Initial Token Offering (ITO), allowing the token acquisition process to be completed entirely online and in compliance with the Swiss law. This success story was enabled together with the digital onboarding partner Intrum Justitia AG (Switzerland) and IDnow.

At the heart of this Swiss strategy is the OISTE-WISeKey Cryptographic Root of Trust (RoT) which has been created in Switzerland, stored inside a Swiss Mountain bunker and actively used since 1999.   OISTE-WISeKey Cryptographic RoT is currently installed in over 2.6 billion desktops, browsers, mobile devices, SSL certificates and Internet of Things’ (IoT) devices. The OISTE WISeKey Cryptographic RoT is ubiquitous and universal, and a pioneer in the identification of objects.

It is notable that the new eID law to be debated in the Federal Parliament in 2018 does not affect Qualified Electronic Signatures created using SuisseID or PrimoSign.  ZertES, the Federal law for electronic signatures and Trust Service Providers remains the relevant law. Alongside its commitment to SuisseID and PrimoSign, WISeKey QuoVadis intends to expand its recognition as an Identity Provider (“IDP”) under the eventual new eID law, which is expected may come to fruition in 2020.

You can order your WISeCoin at: https://www.wisecoin.com/order

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About WISekey QuoVadis

WISeKey QuoVadis is a leading global Certification Authority (CA) providing cloud-based Trust/Link Managed PKI (Public Key Infrastructure) services, including TLS/SSL digital certificates for web security as well as eID for authentication, encryption, and digital signature.

WISeKey QuoVadis also provides electronic-signature platforms including mass signature and trusted time-stamping solutions for e-invoicing, as well as cloud-based signing platforms for individuals. QuoVadis electronic-signatures are used on more than 60 million electronic transactions annually.

WISeKey QuoVadis is an established Qualified Trust Services Provider (TSP) for eID and electronic transactions in Switzerland under ZertES and with updated eIDAS accreditations for the European Union. The company also has significant experience in public eID including the Dutch PKIoverheid and the Swiss SuisseID programmes.

QuoVadis customers include a spectrum of multinational companies, financial services entities, university systems and public sector organizations worldwide.

About WISeKey:

WISeKey (SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying via a Virtual Platform large scale digital identity ecosystems. WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) and IoT Microchips provide 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.

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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 article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. 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.