WISeKey drives innovations in IoT security with 23 strategic patents in the U.S.
Geneva, Switzerland/New York, USA – 18 February – WISeKey International Holding Ltd. (“WISeKey” NASDAQ: WKEY; SIX Swiss Exchange: WIHN), cybersecurity delivering Integrated Security Platforms, today announced that it has registered a total of 23 new strategic patents in U.S. which are essential to the digital transformation applications that are fueling the growth in the IoT market (see list of U.S. patents here).
With a rich portfolio of more than 46 patent families, covering over 100 fundamental individual patents, and another 22 patents under review, WISeKey continues to expand its technology footprint in various domains including the design of secure chips, near field communication (NFC), the development of security firmware and backend software, the secure management of data, the improvement of security protocols between connected objects and advanced cryptography.
For WISeKey, adding to its patent portfolio and intellectual property is key to ensuring that the company remains a major player in the IoT industry for years to come, providing their customers with scientifically proven technology that differentiates and protects their products from counterfeiting, adds valuable supply-chain tracking features, and prevents the loss of sensitive enterprise and consumer data.
“Innovation is at the core of everything we do at WISeKey,” commented Carlos Moreira, WISeKey’s CEO and Founder, “which is why we directed more than 18% of our annual revenue in 2019 (or approximately $4.5million) to R&D expenses in an effort to keep our products ahead of bad actors who are using the expanding surface area of the IoT landscape to disrupt critical services and cause harm to consumers.”
Digital transformation in the IoT market is opening up new applications that can improve the efficiencies of power grids, use NFC chips embedded on pharmaceutical labels to provide better quality healthcare, or secure autonomous vehicles but it’s also creating new security risks, each with its own set of challenges and consequences. Digital identities provided as part of the WISeKey Integrated Security Platforms act as the first line of defense in IoT security architectures by giving each object its own unique, immutable, identity that can be used for strong authentication of the device and encryption of sensitive data as it travels from the edge to the cloud.
If you spread the estimated 50 billion connected devices across the predicted world population of 6.8 billion in 2020, you will end up with more than 7 IoT devices per person. Add on top of that the massive amounts of data being generated by each device, over 2.3 zettabytes by 2035, and you can immediately see how big the IoT security market is for WISeKey and why the investment in developing market-leading technologies is critical for their continued success.
WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey microprocessors secure the pervasive computing shaping today’s Internet of Everything. WISeKey IoT has an install base of over 1.5 billion microchips in virtually all IoT sectors (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 edge of IoT as our semiconductors produce a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications to predict the failure of their equipment before it happens.
Our technology is Trusted by the OISTE/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.
Press and investor contacts:
|WISeKey International Holding Ltd|
Company Contact: Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
|WISeKey Investor Relations (US)|
Contact: Lena Cati
The Equity Group Inc.
Tel: +1 212 836-9611
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