WISeKey and the Government of Andhra Pradesh, India announce collaboration to bring Security to Block Chain and Fintech Projects
Geneva, Switzerland - September 6, 2017 - WISeKey International Holding Ltd (SIX: WIHN), a leading Swiss cybersecurity and IoT company announced today a collaboration agreement with the Government of Andhra Pradesh, the seventh largest state in India, to explore implementation of blockchain technology POCs as pilot projects in various departments. The objective has been to simplify processes and to further enhance cybersecurity in the wake of recent cybercrime attacks worldwide. Government of Andhra Pradesh has been proactive in ensuring that the sheer volume of citizen's information stored in various databases remain secure with the help of technology and technical expertise in the emerging field of blockchain provided by companies such as WISeKey.
The WISeKey Platform can be used to enhance the security of Citizens' Identity, position citizens at the center of gravity of Government services using the WISeKey PKI based Blockchain technology as the solution to secure government-recorded data. "To have a pristine vision like putting the Citizen at the center of gravity, and building all the infrastructure around this vision is the key to successfully empower citizens to unleash their full potential," said Carlos Moreira, Founder CEO, WISeKey.
"We are looking towards WISeKey to play a leadership role in providing cybersecurity for the various initiatives of the government, but also drawing out the vision for smart cities who want to go beyond IoT, automation and use "Deep Tech" algorithmic technology, said JA Chowdary, Special Chief Secretary & IT Advisor to the Chief Minister of the Government of Andhra Pradesh. "Andhra Pradesh will be one of the first states in the world which will be implementing the Block Chain Technology in the transportation department," said N. Balasubramanyam, CEO and e-Pragathi & Transport Commissioner for the Government of Andhra Pradesh.
In view of these collaboration opportunities, WISeKey is keen to setup its development center in Vizag, the 'Fintech Valley' in the state of Andhra Pradesh. With WISeID Blockchain technology only the user determines which identification attributes are shared with government, social media, credit cards, merchant sites etc. "We are proud to be a part of the Fintech Valley foundation blocks. The opportunities we see ahead are immense, as technology will play a truly pivoting role in rolling governance at a cluster, city, district and state level. The Government of Andhra Pradesh has always been a leader and its vision has paved the way to for other governments to collaborate or adapt," said Amit Kumar, Managing Director, of WISeKey India Private Limited. The WISeID Blockchain application also acts as an encrypted messenger app, password vault, a secure password generator, and a multi-device data synchronizer on a secure cloud network. To strengthen security, the app requires users to pass a facial recognition check before accessing any sensitive areas. It is essential to ensure personal security over smartcards and smartphones and WISeID Blockchain technology gives citizen control over their personal information totally in compliance with the new privacy requirements declared by the Honorable Supreme Court of India; the Court has unanimously established that privacy is a fundamental right, in a landmark judgment that could derail the world's largest biometric identity card scheme.
The newest iteration of the WISeID app, version 6, includes a public blockchain. App users act as peers, and each downloads a copy of the blockchain. Acting as a "dual factor authentication technology that sits on top of a Blockchain, there is no cryptocurrency or token residing on this ledger, just user data," said Carlos Moreira.
The WISeKey Blockchain is constantly growing as new blocks are added to it with a new set of recordings. Each WISeID node gets a copy of the WISeID Blockchain and gets downloaded automatically upon joining the WISeID network. Through the WISeID Blockchain app the users are always in control of their digital identity stored on their mobile, IoT sensor and or computer and is only the user who determines which identification attributes are shared with social media, credit cards, merchant sites etc. never disclosing the Personal Identifiable Information (PII) if not required or necessary. WISeID uses Blockchain as a public, immutable ledger that allows third parties to validate that the original Identity or Attribute certifications provided by a Third Trusted Party has not been changed or misrepresented. Keeping control of Digital Identity is key to protecting user's personal data. WISeID is also provided as a software development kit (SDK) to third parties wanting to use this method of identification for their identities requirements.
This architecture will give option to the Government of Andhra Pradesh to integrate WISeKey's Global Root and Public Key Infrastructures into their Blockchain and operate as a trusted platform. The hardware interface is based on combining efficient microcontrollers to so called crypto-accelerators, while the software interface connects this combination to the web, mobile phones, reader systems and radio frequency systems like NFC, Bluetooth, ZigBee and low power wide area networks.
WISeKey has built one of the most innovative smart tags in the industry. Its VaultIC 15x series is delivering asymmetric key algorithms in energy harvesting mode. Crypto-chips can be operated without batteries, only by the induction field of a mobile phone with NFC capability. This makes it easy and convenient to embed them into any kind of physical object, thus protecting their authenticity and provenance. Extending the capability of the VaultIC with industrial bus systems like I2C, SPI, UART solves all critical issues of machine identity related to IoT, sensor and actuator networks, smart city, smart plans, etc.
At the heart of this platform is the OISTE-WISeKey Cryptographic Root which is now operational also in India with the WISeKey India Root of Trust recognized and Trusted already by over 2.6 billion desktops, browsers, mobile devices, SSL certificates and Internet of Things' devices. The OISTE WISeKey Cryptographic Root of Trust is ubiquitous and universal, and a pioneer in the creation of Digital Identities.
About WISeKey India
WISeKey India, a Joint Venture established by WISeKey in late 2016 with leading Indian entrepreneurs to deploy its IoT and cybersecurity platform to the Indian Market. WISeKey India's presence through a Joint Venture incorporation and deployment includes the development of a full Root of Trust and Public Key Infrastructure ("PKI") for WISeKey India including a globally trusted Certification Authority under the "Digital India Vision," a campaign launched by the Government of India that has taken major initiatives to make the country e-ready by initiating various e-governance implementations across the country like automation of income tax, passport, Company Law, e-procurement and bidding etc. Public Key Infrastructure forms the backbone for all these initiatives.
About WISeKey:
WISeKey (SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems with a patented process. WISeKey's Swiss based cryptographic Root of Trust ("RoT") provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people. For more information, visit www.wisekey.com
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About Fintech Valley Vizag
Fintech Valley Vizag is the epicenter of Fintech disruption in India. Driven by Honorable Chief Minister Nara Chandrababu Naidu's vision to create 500,000 jobs in Andhra Pradesh by 2020 through technology-enabled services, the recently-established Fintech Valley has become a playground for start-ups and innovators looking to disrupt traditional business processes. The self-sustained global Fintech Ecosystem is set in the state that has been ranked number one for ease of doing business in India. The valley focuses on converging finance and technology by enabling market access, world-class infrastructure, funding, human capital and innovation to achieve unmatched business goals and successes. http://www.fintechvalleyvizag.com/
Press and investor contacts:
| WISeKey International Holding Ltd Amit Kumar Managing Director, WISeKey India M: +91 9871222923 | WISeKey Investor Relations (US) Contact: Lena Cati The Equity Group Inc. Tel: +1 212 836-9611 lcati@equityny.com |
Disclaimer:
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