WISeKey International and The Hashgraph Association Forge Strategic Alliance Jan 3, 2024 Jan 3, 2024 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJanuary 3, 2024 by Kelly Cromley

WISeKey International and The Hashgraph Association Forge Strategic Alliance

WISeKey International Holding, a global player in cybersecurity, digital identity, and IoT solutions, recently concluded a strategic investment round with The Hashgraph Association (THA) on January 2. Operating as a holding company, WISeKey’s subsidiary, WISe.ART, known for its leadership in digital art and luxury collectibles, stands to benefit significantly from this collaboration. The Hashgraph Association, a Swiss non-profit entity, focuses on accelerating the global adoption of the Hedera network, a decentralized ledger technology (DLT).

Accelerating Development and Enhancing NFT Solutions:

Carlos Moreira, the Founder and CEO of WISeKey, emphasized the importance of THA’s investment in expediting the development of the WISe.ART platform V3.0 and strengthening the Trusted NFT solution. The WISe.ART platform serves as a comprehensive digital marketplace for the arts and technology sectors, featuring unique capabilities such as curator and multiplier options, white-labeling, and exclusive NFT designs. Its primary goal is to establish authenticated, signed digital assets, ensuring provenance, assurance, and secure ownership.

Expanding Distributed Ledger Technology to the Mainstream:

Kamal Youssefi, President of The Hashgraph Association, conveyed excitement about the collaboration, citing its potential to extend Hedera’s distributed ledger technology (DLT) to the mainstream. Youssefi noted that WISeKey’s commitment to authenticating physical objects aligns with providing assurance in securing digital assets through advanced security technologies.

Tokenization of Equity-Shares and Regulatory Compliance:

A crucial element of this collaboration is the tokenization of WISe.ART’s equity-shares, achieved through the legal and regulatory compliant issuance of digital shares under the Swiss regulatory framework, specifically the Swiss DLT Act. Utilizing the Hedera Token Service (HTS), this move is expected to reshape the future of investment, enhancing the efficiency, liquidity, and security of share trading. The tokenized equity-shares from WISe.ART are slated to be listed on a regulated digital securities exchange.

Beyond WISe.ART: Integration with SEALSQ IoT Devices:

The collaboration extends its impact beyond WISe.ART, with funding facilitating the integration of the Hedera enterprise-grade network into SEALSQ IoT devices. This integration enables secure, decentralized currency transactions, aligning with the mission of SEALCOIN, a digital token and advanced cryptocurrency protocol offered by SEALSQ Corp. SEALCOIN aims to establish a robust economy for billions of internet-driven devices, fostering seamless exchange of both data and currency.

Hedera Network’s Role in Security and Consensus:

Hedera, a decentralized, open-source, proof-of-stake DLT utilizing Asynchronous Byzantine Fault Tolerance (ABFT), provides a high level of security for a consensus algorithm. Governed by prominent organizations, Web3 companies, and academic institutions, the Hedera network is poised to play a crucial role in the expansion and utilization of innovative WISe.Art and SEALCOIN cryptocurrencies. This collaboration signifies a significant stride in the development and integration of cutting-edge technologies in the realms of cybersecurity, digital art, and decentralized finance.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.