WISeKey International Holding and Lykke, a Swiss-based digital exchange company announced Thursday during the Davos Internet of Value Blockchain RoundTable a joint agreement to integrate and co-offer their products: the Lykke Wallet and the WISeKey suite of software, APIs, and servers, to secure access to data and devices in the world.
Also joined with Stratumn, WISeKey will provide enterprise grade process security software based on blockchain technologies. Lykke will integrate the WISeKey identity and security stack into its digital wallets and software, while WISeKey, in addition to its WISWatch and other security devices, will offer a “WISeKey wallet by Lykke” to its customers.
“The combination of these two technologies is very powerful,” says Richard Olsen, CEO of Lykke. “It will give our customers, both individuals and our large enterprise customers, private key protection and management as a built-in part of the Lykke platform. This is very much part of the Lykke vision, and WISeKey is a perfect partner for us.”
“We’re very happy to integrate the Lykke trading ecosystem into our suite of products,” said Carlos Moreira, CEO of WISeKey. “This is going to make it easier to buy what you want, use and pay for services as you need them, and transfer money securely without passwords and other insecure forms of identification.”
Stratumn is a pioneering software security company that is enabling a shift in how organizations secure their critical processes and think about data security. Enabling traceability, data integrity and on-demand transparency, Stratumn’s Proof of Process Technology reduces the complexity of interactions between partners, customers, auditors and regulators, thus reducing operational frictions and costs.
Proof of Process Technology offers a common audit trail, secured by blockchains and cryptography, where stakeholders can collaborate without revealing their private and confidential data. This protocol relies on an advanced consensus mechanism based on the authority of a pre-configured set of identified stakeholders to secure the blockchain. This approach makes private blockchains easier to maintain and administer, while keeping participants accountable.
As a vendor of identity, a recognized root key provider and certificate authority, WISeKey provides the Identity layer crucial to implementing Proof of Process. By combining their offerings, Stratumn and WISeKey will enable better accountability and traceability in complex industrial processes. These technologies are directed towards applications in insurance, finance, energy, industry, luxury goods and healthcare, amongst others.
“We are pleased to partner with Stratumn, a pioneer in blockchain technology,” Moreira added. “Through our partnership with Stratumn we will offer corporations around the world a secure and trusted way to communicate and build relationships with clients and partners, minimize risks and maximize growth potential by integrating our Virtual Trust Platform with blockchain.”
“Public blockchain networks rely on algorithms such as Proof of Work to align the economic incentives of participants. This is a property of a blockchain in which participants do not know each other,” explains Richard Caetano, CEO of Stratumn. “Enterprises today have much different security requirements as contractual agreements and regulations require companies to know and trust the identity of their clients, suppliers and partners. Identity management and strong authentication are key components to ensure accountability and traceability in processes where multiple participants are involved. As a Root of Trust certificate authority, WISeKey provides Stratumn with a fundamental component to Proof of Process.”