WISeKey launches WISeCoin for secure digital transactions

Wednesday 23 December 2020 13:14 CET | News

WISeKey has unveiled the launch of a new WISeCoin service to support secure interactions between IoT devices, MobileIDWorld reports. 

WISeCoin, a utility token that uses blockchain, aims to verify the authenticity of connected objects that are engaged in some kind of digital transaction. The token is stored in a digital wallet, and is developer-agnostic insofar as it is compatible with any ERC-20 wallet. WISeKey’s goal is to make the WISeCoin a standard security feature in the next generation of IoT devices. The WISeCoins have a number of potential applications, including digital signatures, cryptocurrency exchanges, and digital payments.

The WISeCoin Validation Service uses HIRO AI and WISeKey’s Public Key Infrastructure (PKI) to analyse the digital certificates of other parties during a transaction. The service will check to see whether or not the other device has a valid WISeCoin, and after that, it will clear the interaction if it does. In addition, each WISeCoin is valid for 12 months or 100 requests, and each transaction requires at least one valid Coin. However, those numbers can all be adjusted over time.

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Keywords: WISeKey, WISeCoin, digital transactions, product launch, digital signatures, cryptocurrency exchanges, digital payments, digital wallets
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime