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WISeKey rolls out NFT for digital identity verification

Friday 19 March 2021 14:27 CET | News

Switzerland-based cybersecurity, AI, and IoT company WISeKey has announced the development of Non-Fungible Tokens (NFT).

The company is adding the NFT capability to its WISeAuthentic Platform, which uses a patented method for digital certification of authenticity of a physical object, and corresponding computer program and storage device, as well as using the method for digital certification of authenticity of a physical object of value. 

The method includes the steps of issuing a storage device, including a digital certificate of authenticity including 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 , whenever required.

According to the streetinsider.com, the NFT market is now growing exponentially with NFT trading expanding in all sectors, fuelled by the need to curb fraud and forgery in artwork but is now quickly being adopted by other industries that can benefit from a non-cloneable digital certificate of authenticity.


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Keywords: digital identity, fraud management, fraud detection, biometric authentication
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Countries: Switzerland