WISeKey
Helping Governments
Prepare for the Metaverse
Register to
Attend our Davos 2022
Event: The Human
Metaverse at
https://www.wisekey.com/wisekey-webinar/
Geneva, Switzerland – April 8, 2022 – WISeKey International
Holding Ltd (SIX: WIHN, NASDAQ: WKEY), a Swiss based cyber
security, IoT, AI platform company, today announced that it is
helping Governments prepare for the
Metaverse. Recent developments have forced governments
around the world to take steps to quickly understand how Metaverse,
this new frontier of innovation, is challenging the traditional
conception of Sovereignty.
With data being stored virtually on the Metaverse anywhere in
the world and government employees and citizens using information
technology systems that are hosted and operated from anywhere (even
outside of their jurisdiction), the expected sovereign rights over
that date on the Metaverse needs to be reconsidered. Many
information technology companies are telling governments that that
their versions of the Metaverse will be enough to ensure
sovereignty over their data and citizens. Others are stating that
new legislation is needed to protect citizens. All in all, the
solutions they propose are partial and unsatisfactory.
WISeKey, has been at the forefront of balancing technology, law,
policy, and geopolitics from its headquarters in Switzerland for
over 23 years. Over the years, WISeKey has developed solutions to
the problems of State sovereignty and the challenges brought on by
technology, including now the metaverse, that can be defined as a
virtual world where citizens can exist simultaneously and interact
in infinite ways with their government services and among
themselves. Citizens can use their digital identities to conduct
Metaverse-government transactions like, voting, pay their taxes,
get married, while they also run private activities such as work,
meet, collaborate, shop, stroll, watch movies and concerts, and do
almost anything else they could do in the real world. WISeKey has
recently signed a Memorandum of Understanding (MoU) with the
Government of Seychelles, represented by the Department of
Information Communications Technology (DICT), to initiate a pilot
project for the development of an innovative Digital Identity
platform for Seychelles. The Digital Identity platform is expected
to be integrated with different national initiatives especially the
eGovernment and potentially eTourism and eHealth. Last year WISeKey
also signed two MoUs with the
Government of Gibraltar and the Mayor
of La Línea de la
Concepción, for the development of a joint
4th Industrial Revolution Center of Excellence (LLG 4IR
Center of
Excellence) spearheading innovation in
the region with the objective to build a collaborative
metaverse.
The metaverse is a great way for governments to interact with
their citizens and the next step in the evolution of the internet
from a two-dimensional interactive to a three-dimensional immersive
experience. Governments should take the future opportunity
represented by the metaverse seriously. The metaverse will present
entirely new ways, for example, to create employment, impart
education, deliver healthcare, and plan urban spaces. It will be
the next major labor organizing platform. New organizations,
products, and services will handle everything from payment
processing to identity verification, hiring, ad delivery, content
generation, and security. The Metaverse is based on Web 3.0, also
known as the decentralized web, is an evolution of the Internet
that allows users to interact with each other in a more secure and
private way. It does this by using blockchain technology to create
a peer-to-peer network where users can transact without relying on
intermediaries. This makes it ideal for developing virtual worlds,
as it provides a platform for users to interact without fear of
censorship or data theft.
WISeKey is teaming with governments to facilitate services
related to the complex regulatory issues that a metaverse would
present and establishing MoUs allowing the governments to test the
technology and participate in working groups on anticipatory
regulation commissioning research on the regulation process that
would become necessary and collaborate with the private sector to
explore regulatory approaches for a metaverse.
The company is also providing the WISeID second generation
Digital Identities in Metaverse that includes an identification
module that its built into the protocol, while supplementary
applications will be developed. Users will have autonomy over their
identity meaning that they are in full control of their personal
identification information and hence need not to rely on any
central entity or third party for identity verification. With a
truly NFT identity, users can create, sign, and verify claims,
while parties who interact with a user will be able to prove their
identity. Additionally, users will be able to selectively disclose
their information.
Users can establish a reputation on Metaverse through digital
identities, improving the way we exchange value. Value is exchanged
through digital signatures, requests for verification and
transactions; these transactions then allow a user to gradually
build a reputation which can be inspected and verified by other
digital identities and value intermediaries. You can download your
ID from WISeID.com.
Register to attend our Davos 2022 event: The Human Metaverse at
https://www.wisekey.com/wisekey-webinar/.
About WISeKeyWISeKey (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 1.6 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 LtdCompany Contact: Carlos
MoreiraChairman & CEOTel: +41 22 594
3000info@wisekey.com WISeKey
Investor Relations (US)Contact: Lena CatiThe Equity
Group Inc.Tel: +1 212 836-9611lcati@equityny.com
Disclaimer:This communication expressly or
implicitly contains certain forward-looking statements concerning
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 be materially different 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 does not undertake 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 securities, and it does not constitute an offering prospectus
within the meaning of article 652a or article 1156 of the Swiss
Code of Obligations or a listing prospectus within the meaning of
the listing rules of the SIX Swiss Exchange. Investors must rely on
their own evaluation of WISeKey and its securities, including the
merits and risks involved. Nothing contained herein is, or shall be
relied on as, a promise or representation as to the future
performance of WISeKey.
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