SEALSQ, WISeKey, and The Hashgraph Association Partner to Elevate IoT and Secure Payments in Saudi Arabia
Geneva, Switzerland / Riyadh, Saudi Arabia - June 5, 2024 - SEALSQ Corp (NASDAQ: LAES) and its parent company WISeKey (SIX: WIHN; Nasdaq: WKEY) have announced a groundbreaking partnership with The Hashgraph Association, a Swiss-based association and leader in digital innovation and distributed ledger technology (DLT) solutions. This collaboration aims to bring secure Internet of Things (IoT) and DePIN (Decentralized Physical Infrastructure network) solutions to Saudi Arabia in alignment with the country’s Vision 2030 initiative.
Saudi Arabia’s Vision 2030 strives to establish a sophisticated digital infrastructure for the kingdom and enhance economic competitiveness. SEALSQ, WISeKey, and The Hashgraph Association’s partnership comes at a crucial time when digital transformation and secure connectivity are top priorities for the Saudi Arabian government.
SEALSQ, a company dedicated to developing and selling Semiconductors, PKI, and Post-Quantum technology hardware and software products, has been at the forefront of enhancing security in various industries. They have previously introduced the SEALCoin digital machine-to-machine token that enables seamless and secure payments for electricity between electric vehicles (EVs) and charging stations.
With the advancement of IoT technology, SEALSQ’s secure IoT solutions will further revolutionize the industry. By leveraging WISeKey’s expertise in cybersecurity, digital identity, and IoT solutions, the partnership aims to create a robust and secure ecosystem for IoT devices in Saudi Arabia. This will lay the foundation for the widespread adoption of IoT in various sectors, including transportation, healthcare, energy, and more.
The collaboration also highlights the importance of decentralized physical infrastructure networks (DePINs) in ensuring secure and reliable connectivity. SEALSQ’s previous work in enhancing the security of EV charging stations using semiconductors and DePIN technology has provided a solid foundation for future projects.
In line with this, SEALSQ’s adoption of RISC-V chips is predicted to receive a significant boost by leveraging artificial intelligence (AI) capabilities. RISC-V technology challenges established giants in the microchip industry and holds the potential for transformative changes. With the industry already embracing over 10 billion RISC-V cores by the end of 2022, the partnership between SEALSQ and WISeKey is poised to further accelerate its adoption.
The collaboration’s ultimate goal is to establish a secure and reliable IoT infrastructure in Saudi Arabia, empowering businesses and individuals to leverage the potential of IoT while ensuring data integrity and privacy. By bringing together SEALSQ’s cutting-edge technology, WISeKey’s cybersecurity expertise, and The Hashgraph Association’s innovative solutions through the Hedera network, this partnership has the potential to reshape the IoT landscape in Saudi Arabia.
With this groundbreaking partnership, SEALSQ, WISeKey, and The Hashgraph Association are solidifying their position as key players in the digital innovation space. As Saudi Arabia progresses towards its Vision 2030, this collaboration is set to pave the way for a digitally advanced and secure future.
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