WISeKey’s TrustedNFT Platform to Turn Patents into Non-Fungible Tokens (NFT) and Store Them on an Identity Blockchain Network

WISeKey’s TrustedNFT Platform to Turn Patents into Non-Fungible Tokens (NFT) and Store Them on an Identity Blockchain Network

WISeKey is inviting companies and individuals holding patents to join its NFT patent ecosystem powered by the extensive list of patents owned by the company (https://www.wisekey.com/company/our-value-proposition/our-patents/)

GENEVA – June 15, 2021: WISeKey International Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, AI, Blockchain and IoT company, today announced during the Geneva Trust in Innovation Summit https://summit.trustininnovation.com/ that has developed functionality on its TrustedNFt.IO platform to tokenize patents allowing intellectual property to be treated as unique business assets, making patents easier to license, sell and commercialize.

WISeKey uses a unique method to secure the authenticity and provenance of patents through cutting-edge authentication processes combined with identity blockchain technology, which together with on-the-ground measures ensures the authenticity of the original patent and generates its correspondent digital twin.  This new way to convert patents into an NFT makes much easier for patents to be commercialized as each NFT of the patent becomes a unit of data on the blockchain, where each NFT represents a unique digital item that cannot be copied or replicated.

WISeKey is inviting companies and individuals holding patents to join its NFT patent ecosystem powered by the extensive list of patents owned by the company – for more information visit: https://www.wisekey.com/company/our-value-proposition/our-patents/. WISeKey uses a patented method to digitally certify the authenticity of a physical object of value. The method includes the issuing a storage device, a digital certificate of authenticity (encrypted information reflecting at least one characteristic unique to the physical object, checking, whenever required, the validity of the digital certificate of authenticity by use of a network computer), the network computer cooperating with the storage device and a validating or a certifying authority so as to output sensibly in real time the status of validity of the digital certificate of authenticity, and modifying it, whenever required.  More information about the patent can be found at here.

With a rich portfolio of more than 46 patent families, covering over 100 fundamental individual patents, and another 22 patents under review, WISeKey continues to expand its TrustedNFT platform use in various domains. WISeKey’s patented technology that already secures millions of objects (luxury products, expensive wine, jewelry, collector’s items, high end watches, art, etc.), now includes NFT applications backed by Digital Identification technology that secures, authenticates, and proves ownership of digital and tangible assets. The combination of Digital Identification with NFT will be a game changer in proving ownership of digital tangible assets. 

While digital files themselves are infinitely reproducible, NFTs representing them are traced on their underlying blockchains and provide buyers with proof of ownership.  Blockchains such as Ethereum, Bitcoin Cash and Flow, each have their own token standards to define their use of NFTs. The NFT of each patent are then auction using the TrustedNFT platform and TrusteCoin a cryptocurrency that provides a way for investors to add income streams to their already existing collections and allows crypto-investors to participate on a solid and well-known market. The objective for TrusteCoin is to become one of the biggest names in the DeFi space, by providing a platform that offers anyone the ability to make a profit by creating trusted NFTs on the TrustedNFT Platform.

To enable proper KYC (Know Your Customer) while keeping anonymity and exclusivity of the platform, the technology stack is built around the TrusteCoin. This payment method, which will be used for all transactions in the TrustedNFT platform ecosystem guarantees the necessary processes for KYC while allowing market participants to stay anonymous at their own convenience. Though the unique way of minting NFTs on the TrustedNFT platform always including the digital asset itself, proof of integrity and provenance as well as contracts to define the rights of the owner, the platform creates the only marketplace where NFTs are actual usable digital twins and the TrusteCoin is the entry point into this ecosystem. The platform generates patents related smart contracts acting as a program that runs on the blockchain that they can receive and send transactions, and they are unalterable.

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

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