Thus, connected objects secured by WISeKey semiconductors will be enabled to pay other connected objects using WISeCoin. The cybersecurity company has tested the technology on connected cars allowing a connected car secured by WISeKey to pay for electricity, gas and parking through the integration of WISeCoin crypto wallets at the Secure Element Chip level.
Each connected object is equipped with WISeKeys Secure Element, designed and developed together with Sigfox. WISeKey is using its own cryptocurrency, WISeCoin, as a method of payment between connected objects. The cryptocurrency uses blockchain technology and works as part of payment system using WISeKey Blockchain-as-a-Service (BaaS) technology offerings.
To empower cryptocurrency transactions for IoT connections, WISeCoin is supplemented with secured solutions such as biometrics-driven hardware wallets, integrated exchange platforms, MicroChips Blockchain enabled semiconductors, and NFC-based contactless payment solutions. WISeKeys objective with WISeCoin is to become an emerging powerhouse in the global cryptocurrency market by supporting the development of economies built on blockchain technology.
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