WISeKey's SEALCOIN Project Leverages Hedera DLT: Invites IoT Companies to Perform Proof of Concept (PoC) for Transactional-IoT (t-IoT) Technology

Core Insights - WISeKey International Holding Ltd is launching a Proof of Concept (PoC) for its t-IoT technology, Project SEALCOIN, aimed at enabling autonomous transactions between interconnected devices [1][4] - The PoC will demonstrate the potential of SEALCOIN to disintermediate service providers, enhancing efficiency and reducing costs in the IoT ecosystem [1][3] Technology Overview - The SEALCOIN project utilizes advanced technology embedded in semiconductor devices that autonomously validate and verify transactions [2] - It features a Secure Element that protects the private key and certificate for each device's unique identity, employing elliptic curve cryptography (ECC) compatible with Hedera's Decentralized Ledger Technology (DLT) [2] Project Development - WISeKey established SEALCOIN AG as a Special Purpose Vehicle (SPV) to advance the SEALCOIN project, with plans to launch a Minimum Viable Product (MVP) by Q4 2024 [3] - The MVP will provide a comprehensive solution for secure, autonomous device interactions within the IoT ecosystem, eliminating intermediaries [3] Leadership Perspective - Carlos Moreira, CEO of WISeKey, emphasized that the SEALCOIN PoC is a significant milestone in enhancing t-IoT technology capabilities and aims to set new standards in the IoT landscape [4]