SEALSQ to Showcase its Digital Identity Management with Decentralized Identifiers (DIDs) for IoT Devices and Cryptocurrencies Users at the Upcoming Mobile World Congress

Tortola, British Virgin Islands/Zurich, Switzerland , Feb. 20, 2024 (GLOBE NEWSWIRE) -- SEALSQ Corp (NASDAQ: LAES), a company that focuses on developing and selling Semiconductors, PKI and Post-Quantum technology hardware and software products, today announced its presentation at the Mobile World Congress which will take place from February 26 - 29 in Barcelona, Spain.

Carlos Moreira, SEALSQ’s CEO noted, “This landmark event will showcase the innovative application of Decentralized Identifiers (DIDs), set to transform digital identity management boith for people and objects by offering a verifiable, self-sovereign, and privacy-centric approach, especially tailored for the burgeoning field of machine-to-machine transactions, including our proprietary cryptocurrency, SEALCOIN.”

Mr. Moreira added, “Our latest offering, SEALSQ DID, is engineered to bolster the security of cryptocurrency transactions, which are inherently protected by blockchain technology. Despite the robust security features of blockchain, the sophistication of cybercriminals necessitates a higher degree of vigilance. SEALSQ DID addresses this challenge head-on by enabling individuals to fully own and control their digital identities without dependency on third parties, thereby significantly reducing the potential for exploitation.”

In the rapidly evolving landscape of the Internet of Things (IoT), the integration of DIDs heralds a new standard in digital security and identity management. With an estimated 7 billion internet-connected devices today, projected to grow to 22 billion by 2025, the need for a secure, decentralized identity system for IoT devices has never been more critical. SEALSQ is at the forefront, offering advanced privacy features and seamless identity management across devices, thereby mitigating the risks associated with large-scale IoT deployments and the diverse standards across devices.

In today’s digital age, where approximately 1.1 billion people lack official identification, SEALSQ's DID technology provides a groundbreaking solution. By enabling a user-controlled, decentralized digital identity, SEALSQ not only addresses the critical issue of identity for the underprivileged but also empowers individuals with complete ownership and control over their personal information, thereby enhancing privacy and security in the digital realm.

As part of its commitment to enhancing digital security, the WISeID platform introduces sophisticated digital identification and Multi-Factor Authentication (MFA) capabilities. This service is designed to safeguard cryptocurrency wallets and exchanges through advanced authentication methods, including online KYC onboarding, OTP, digital certificate login, and a revolutionary “hands-free” secure login using QR codes. These innovations are poised to set a new benchmark in the industry, providing unparalleled security and convenience for users.

Advanced Blockchain Security Cryptocurrency transactions, inherently secured by blockchain technology, present a formidable challenge for cybercriminals attempting to exploit transactional data. However, the ingenuity of hackers in devising cryptocurrency schemes to extract sensitive information, such as wallet key phrases, necessitates enhanced vigilance. Elevating Security with MFA Implementing MFA is a critical defense strategy in safeguarding cryptocurrency wallets and exchanges. MFA fortifies security by necessitating multiple verification methods — ranging from traditional passwords to biometric scans and unique codes generated by specialized mobile applications. This multi-tiered approach significantly mitigates the risk of unauthorized access and fraudulent activities.

Safeguarding Private Keys:
The sanctity of an individual’s private key, the sole access point to their cryptocurrency investments, cannot be overstated. Experts advocate for the use of hardware wallets, akin to USB devices, which securely store private codes. Such wallets ensure that the private key remains encrypted and never directly interacts with potentially vulnerable online environments. Additionally, duplicating the hardware wallet and securing it in locations like safe deposit boxes offers a fail-safe against key loss.

User-Controlled Digital Identities:
The New Norm In a landscape where data privacy is paramount, digital identities must shift from platform-centric to user-centric models. This paradigm shift empowers users to maintain control over their personal information, ensuring privacy and preventing unauthorized data exploitation by platforms or third parties. Furthermore, this model facilitates identity continuity across various platforms and fosters healthy competition among them, as users can seamlessly transition their digital identities.

We invite you to join SEALSQ at the Mobile World Congress to witness firsthand the future of digital identity management. Discover how our cutting-edge technologies, including SEALSQ DID and the WISeID platform, are redefining security in the digital and IoT domains. For more information and to download your digital identity, visit (https://wiseid.com).

About SEALSQ
SEALSQ focuses on selling integrated solutions based on Semiconductors, PKI and Provisioning services, while developing Post-Quantum technology hardware and software products. Our solutions can be used in a variety of applications, from Multi-Factor Authentication tokens, Smart Energy, Smart Home Appliances, and IT Network Infrastructure, to Automotive, Industrial Automation and Control Systems.
Post-Quantum Cryptography (PQC) refers to cryptographic methods that are secure against an attack by a quantum computer. As quantum computers become more powerful, they may be able to break many of the cryptographic methods that are currently used to protect sensitive information, such as RSA and Elliptic Curve Cryptography (ECC). PQC aims to develop new cryptographic methods that are secure against quantum attacks.
For more information please visit www.sealsq.com.

Forward-Looking Statements
This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipates will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include SEALSQ's ability to implement its growth strategies; SEALSQ’s ability to generate revenue from emerging new semiconductors; SEALSQ’s ability to generate revenue from Matter certification and the new cyber trust mark standards; the successful introduction of the WISeSat picosatellite constellation; SEALSQ's ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; and the risks discussed in SEALSQ's filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC.
SEALSQ Corp 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.
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