Swiss cybersecurity and IOT technology firm WiseKey International Holding announced yesterday it developed a first-of-its-kind IOT cryptocurrency smart payment solution that lets connected objects such as charging EVs pay with WISeCoin. The firm tested the technology on connected cars allowing a connected car secured by WiseKey pay for electricity, gas, and parking through the integration of WISeCoin crypto wallets at the secure element chip level, the firm said.
Each connected object is equipped with WiseKey's "secure element" called VaultIC184, consisting of a tamper resistant silicon chip based on a state-of-the-art secure microcontroller, it added. A Sigfox-specific API, using the latest specifications, lets device manufacturers easily integrate the chip, as well as a provision service, transferring the burden of device personalization to WiseKey's secure Personalization Center, the firm said.
WiseKey teamed with IOT networking firm Sigfox to design and launch the secure element for Sigfox-enabled connected devices. With this Sigfox-specific secure add-on, WiseKey expanded its offerings for securing the IOT to the very promising low-power wide area networks (LPWAN), of which Sigfox is a forerunner, it added.
WISeCoin uses the latest blockchain technology and works as part of payment system using WiseKey blockchain-as-a-service (BAAS) technology offerings. To empower a seamless cryptocurrency enabled for IOT connections, WISeCoin is supplemented with highly secured solutions such as biometrics-driven hardware wallets, integrated exchange platforms, MicroChips Blockchain enabled semiconductors, and NFC-based contactless payment solutions, the firm said.
WiseKey's objective with WISeCoin is to become an emerging powerhouse in the global cryptocurrency market by supporting the development of economies built on blockchain technology, it added.
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