WISeKey Announces Swiss Intrin – GuruFocus.com

WISeKey Announces Swiss Intrin – GuruFocus.com

WISeKey advertise Swiss Intrinsic Security for watchmakers brand protection

WISeKey add NFT service for vintage and high-end luxury watches

WISeKey was the first company in the world to use two-factor authentication combined with blockchain technology to protect luxury watches and currently protects more than 2.5 million luxury watches.

This technology has received a US patent (see patent here)

GENEVA – May 10, 2022: WISeKey International Holding Ltd. (“WISeKey”) (SIX: WIHN, WKEY), a leading global cybersecurity, AI, Blockchain and IoT company, today announced a new Swiss Intrinsic Security for watchmakers Trademark protection.

Counterfeiting is a huge and growing problem for the luxury industry. Not only are the revenue and reputation of the original manufacturers at stake, but the end customers are also affected (quality issues, reliability, etc.). One of the solutions to combat counterfeiting is to digitally identify and authenticate the goods to be protected. For example, a secure element with unique secret keys can be placed in a watch to prove the identity of the watch, in the same way that an electronic passport proves the identity of a passenger. For some luxury industries, electronic components are highly frowned upon as they can spoil the overall impression of luxury.

Today, there are no effective ways to mechanically and efficiently secure a piece of silicon (a secure element) in the (often metallic) environment of a watch or other luxury item. Therefore, such a secure item could easily go from a genuine watch to a fake one, or from a low-cost model to an expensive one. Similarly, an electronic passport without biometric records could be stolen and used by anyone.

The secure element to digitally prove the identity of a luxury good (watch, etc.) is no longer a “dirty” external part that is artificially fixed on/in the product. It is fully integrated and becomes a constituent part of the product. The general perception of luxury is intact.

This secure element is no longer an external part that could be transferred to another product, it becomes an intrinsic part of the product it protects, like a DNA signature. This seriously strengthens the proof of identity/authenticity. Since the secure element is intrinsically integrated into a piece of the asset to be protected, it does not require any specific handling. The traditional assembly of the product, completely handmade, is still possible, and the luxury craftsmanship atmosphere is respected.

The authenticity of the luxury good can be easily proven by checking the digital identity (secret keys) contained in the embedded secure element through standard cryptographic transactions between this “chip” and an external authentication device. Various interfaces are possible (contact and contactless).

The embedded secure element can also contain the full certified history of the luxury item from manufacturing to customers, solving the complexity of tracking these products. Furthermore, the silicon used to make the mechanical parts offers additional useful characteristics (shape memory effect, thermal stability, etc.).

Our Proposal in Details

The method that we propose in this invention can be summarized as follows:

  1. The mechanical part to be included in the luxury good to be protected is laser cut in a piece of silicon that embeds the secure element that was previously prepared in a normal semiconductor factory.
  2. The embedded secure element is a regular secure microcontroller that provides the communication interfaces required by the application (contact or contactless) and can be contact or induction powered.
  3. The embedded secure element is provisioned with the digital identity (secret keys) once the luxury good is initially uniquely authenticated by the brand.
  4. Depending on the physical integration and use case, the secure element for authentication or traceability can be accessed either through the casing of the asset or after it has been opened for inspection or maintenance.

WISeKey’s NFT technology creates Watch birth certificates, digital identities that are analogous to birth certificates and can be converted to NFTs. The watch’s birth certificate is signed or “certified” by a trusted authority and contains basic information such as the date and time of manufacture (birth), the company (parents), and the type of product. This digital identity, used throughout the life of the watch, allows the watch to become a “Trusted Object” on the Internet, prove its identity and provide verifiable data.
Watch’s birth certificate is based on a public and private cryptographic key pair that is unique to each IoT device. The public key for this key pair is part of the certificate and can be freely distributed, while the private key is used whenever the IoT device needs to verify its identity or sign data to ensure cryptographic integrity. It is the private key that represents the essence of the identity of the IoT device.

About WISeKey
WISeKey (WKEY; SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently implementing large-scale digital identity ecosystems for people and things using Blockchain, AI and IoT while respecting humans as the Internet’s foothold. WISeKey microprocessors ensure the pervasive computing that shapes today’s Internet of Everything. WISeKey IoT has an installed base of over 1.6 billion microchips in virtually every IoT sector (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens, etc.) . WISeKey is uniquely positioned to be at the forefront of IoT as our semiconductors produce a wealth of Big Data which, when analyzed with Artificial Intelligence (AI), can help industrial applications predict their equipment failure sooner. of it happening

Our technology is trusted by OISTE/WISeKey, the Swiss-based Cryptographic Root of Trust (“RoT”), which provides secure authentication and identification, both in physical and virtual environments, for Internet of Things, Blockchain and Intelligence artificial. WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions between objects and between objects and people. For more information visit www.wisekey.com.

Press and investor contacts:
WISeKey International Holding Ltd
Company contact: Carlos Moreira
President and CEO
Telephone: +41 22 594 3000
[email protected]

WISeKey Investor Relations (US)
Contact: Lena Cati
The Equity Group Inc.
Phone: +1 212 836-9611
[email protected]

Disclaimer:
This communication contains, expressly or by implication, certain forward-looking statements relating to WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and makes no commitment to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any security, and does not constitute an offer prospectus within the meaning of section 652a or section 1156 of the Swiss Code of Obligations or a listing prospectus. . within the meaning of the listing rules of the SIX Swiss Exchange. Investors should rely on their own assessment of WISeKey and its securities, including the merits and risks involved. Nothing contained in this document is, or shall be construed as, a promise or representation as to the future performance of WISeKey.

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