WISeKey International Holding Ltd. has successfully concluded a strategic investment round with The Hashgraph Association (THA), a Swiss non-profit organization dedicated to accelerating the global adoption of the Hedera network. This collaboration is poised to fuel the growth and utilization of the Hedera network and advance the development of innovative digital art and luxury collectibles through WISeKey’s subsidiary, WISe.ART.
This significant investment aims to propel the expansion and use of the Hedera network while also supporting the development of WISe.ART’s cutting-edge solutions. WISeKey, renowned for its expertise in cybersecurity, digital identity, and IoT solutions, operates WISe.ART as a subsidiary specializing in the realm of digital art and luxury collectibles.
The Hedera network is a sustainable public ledger designed for the decentralized economy, offering low transaction fees, rapid network speeds, scalability, and real-time settlement. This collaboration is set to fortify the innovative WISe.ART platform and the SEALCOIN cryptocurrency, an advanced protocol developed by WISeKey subsidiary SEALSQ Corp.
SEALCOIN, a digital token and cryptocurrency protocol, is designed to create a robust economy for billions of internet-driven devices, enabling seamless currency exchanges and transactions beyond data. The collaboration between WISe.ART and Hedera expands the use of Hedera’s distributed ledger technology (DLT) to a broader audience.
Carlos Moreira, Founder and CEO of WISeKey, expressed enthusiasm about the investment from THA, highlighting its potential to accelerate the development of the WISe.ART platform and Trusted NFT solutions. WISe.ART serves as a comprehensive digital marketplace for the arts and technology sectors, offering unique features such as curator and multiplier options, white-labeling, and exclusive NFT designs. The platform ensures the authentication, provenance, and secure ownership of digital assets.
Kamal Youssefi, President of The Hashgraph Association, emphasized the collaboration’s significance in expanding Hedera’s DLT to the mainstream. This partnership leverages WISeKey’s commitment to authenticating physical objects, providing assurance and security for digital assets through advanced security technologies.
One pivotal outcome of this collaboration is the tokenization of WISe.ART’s equity shares using the Hedera Token Service (HTS) under the Swiss regulatory framework. This move enhances the efficiency, liquidity, and security of share trading, with the subsequent listing of WISe.ART’s tokenized equity shares on a regulated digital securities exchange.
This strategic investment marks a milestone in the integration of Hedera’s enterprise-grade network into SEALSQ IoT devices, facilitating secure and decentralized currency transactions. Hedera, utilizing Asynchronous Byzantine Fault Tolerance (ABFT), provides a secure consensus algorithm, and its network is governed by leading organizations, Web3 companies, and academic institutions.
The collaboration between WISeKey, WISe.ART, and Hedera is set to drive innovation in the digital art and cryptocurrency space, offering enhanced security, efficiency, and transparency in the tokenization of assets and digital asset management.
Image by Jeffrey Blum from Unsplash
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