SEALCOIN Technology Successfully Tested in a Proof of Concept for Transactional-IoT M2M

Core Insights - WISeKey International Holding Ltd has successfully executed a Proof of Concept (PoC) for its Transactional-IoT technology, Project SEALCOIN, marking a significant advancement in the disintermediation of service providers for interconnected devices [1][5] - The company is establishing SEALCOIN AG as a Special Purpose Vehicle to support the development of its decentralized technology project [1] Technology Overview - Transactional-IoT enables automated communication and transactions between devices in the IoT ecosystem, utilizing advanced technology embedded in semiconductor devices for autonomous transaction validation [2] - The Secure Element within the technology protects the private key and certificate that represent the device's unique identity, ensuring high security standards [3] - The integration with Hedera's Decentralized Ledger Technology (DLT) allows devices to authenticate and sign transactions in real-time, enhancing security and transparency [3][4] Development Plans - The CEO of WISeKey announced the launch of the SEALCOIN platform development, aiming to deliver a Minimum Viable Product (MVP) by Q4 2024 [4] - SEALCOIN will leverage Hedera's DLT for its decentralized infrastructure, which is known for high performance, security, and stability [4] Strategic Vision - The successful PoC reinforces SEALCOIN's commitment to innovation and setting new standards in the IoT landscape, with a focus on creating a safer, more interconnected world [5][6] - SEALCOIN aims to revolutionize the IoT by enabling devices to autonomously transact and coordinate service-for-payment exchanges, enhancing security, efficiency, and trust [6] Company Background - WISeKey is a global leader in cybersecurity, digital identity, and IoT solutions, operating through various subsidiaries that focus on specific technology areas [7][9] - The company has deployed over 1.6 billion microchips across various IoT sectors, playing a crucial role in securing the Internet of Everything [9]