WISeKey Launches WIS.WATCH powered by contactless NFC Technology designed specifically for bitcoin and cryptocurrency users
Zug, Switzerland – December 06, 2017 – WISeKey International Holding Ltd (SIX: WIHN) (WISeKey” or the “Company“), a leading cybersecurity and IoT company, today announced the launch of WIS.WATCH, a secure mechanical watch powered by contactless secure hardware enabled wallet, designed to offer security and ease of use to cryptocurrency users.
The WIS.WATCH can securely store users’ private key and allows them to make contactless transactions, including bitcoin and other cryptocurrency transactions. WIS.WATCH uses a combination of Near Field Communication (“NFC”) technology with highly secured solutions provided by the WISeKey Semiconductors and is now accessible through the WISeWallet App. Every time a contactless Blockchain transaction is initiated, including a Bitcoin transaction, the private key must be first validated using the NFC technology and then the transaction is enabled.
While software wallets continue to get hacked, the hardware wallets have gained popularity as they are providing the most secure solution for transaction and payments. Through the WISeCoin Wallet, hardware wallets have now become contactless and users can establish multiple private keys into the secure store using the same WISeWallet App and access these private keys while making transactions. WIS.WATCH is NFC capable and contactless, is designed with Secure Element that can add hardware authentication factor amongst other multifactor authentication techniques, and protects users’ credentials and private keys, which are encrypted/decrypted with sophisticated cryptographic techniques. The WIS.WATCH benefits from the technology of VaultIC Secure Element which integrates software and microchips on the watch, similar to the technology that empowers VISA, MasterCard, Discover and First Data Corporation bank cards. WISeWallet App is compatible with most of the existing blockchain technologies and works as part of payment system using WISeKey Blockchain-as-a-Service (“BaaS”) technology offerings.
WISeKey Launches WIS.WATCH
Thanks to WISeID NFC technology, the WIS.WATCH can be used as a unique personal key identifier and trusted device to access smartphones, applications, personal data and secured cloud storage. With the connected WIS.WATCH, secure storage and secure access to users’ personal data, documents, and passwords becomes easier than ever. WIS.WATCH is the one stop solution for identity and information security solutions.
Payment capability complements secure access functions embedded in the WIS.WATCH and empowered by WISeKey’s semiconductors technology which are unique in the market. Secure access functions allow watch owners to unlock WISeID Mobile Application, through a technology which is designed to protect personal digital assets encrypted on consumer smartphones or tablets by storing encrypted replicas of them in a secure cloud buried in a Swiss Alps military bunker.
WISeKey provides WIS.WATCH as a final consumer product with its own design and also offers it as licensed technology to different watch brands by embedding this technology into their watches. Several luxury watch brands are currently using the WIS.WATCH technology empowered with WISeKey cryptographic chips.
WISeKey is thrilled to release the WIS.WATCH product. Users can register to get their own copies of WIS.WATCH with an exciting set of promotional offers such as 1 Terabyte of Military Grade secure storage with data saved for free for 12 months in a secure bunker located in the Swiss Alps.
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 on-line transactions among objects and between objects and people.
You can see here a video on WIS.WATCH demo techno
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Cryptocurrency Benefits and Drawbacks
Cryptocurrencies make it less complicated to transfer price range among two events in a transaction; these transfers are facilitated via using public and private keys for security functions. These fund transfers are executed with minimum processing prices, allowing users to keep away from the steep fees charged by maximum banks and monetary institutions for twine transfers.
Valuable to the genius of bitcoin is the blockchain it uses to store an internet ledger of all the transactions that have ever been carried out using bitcoins, imparting a statistics structure for this ledger that is uncovered to a restricted hazard from hackers and can be copied throughout all computers running bitcoin software. Many professionals see this block chain as having important uses in technology, which includes online voting and crowdfunding, and major monetary establishments along with jp morgan chase see capacity in cryptocurrencies to decrease transaction fees with the aid of making fee processing greener.
But, because cryptocurrencies are virtual and do no longer have a valuable repository, a digital cryptocurrency stability may be worn out by a laptop crash if a backup copy of the holdings does no longer exist. When you consider that charges are primarily based on deliver and call for, the price at which a cryptocurrency can be exchanged for another forex can differ widely.
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