Securing the Internet of Things
Embedding trust and security into connected objects for seamless application
The need for a secured Internet of Things
The growing number of connected objects represent the ushering of a new era full of technological innovations, they also represent the rise of cyber-attacks. Thus, WISeCoin AG has created an innovative way to shield the IoT from cyber-attacks the WISeCoin Utility Token.
These breaches can cause:
- Disrupted sevices
- Theft of intellectual property
- Loss of revenue
- Liability claims
- Intrusion on user’s privacy and safety
- Damaged brand reputation
- Job destruction
- And more
Vulnerabilities in today’s Internet of Things
Secuity breaches in the Internet of things for large companies can cost over $10 million per attack. As research has shown, over 48% companies have experienced at least one IoT security breach. This carries the costs of IoT security breaches into the billions of dollars.
WISeToken: bringing the Internet of Things into mainstream through security
With an ecosystem using Blockchain technology, digital identities and semiconductors, we have developed a solution to secure the Internet of Things to bolster the technology into mainstream use. The solution consists in verifying objects� rights to interact with each other by attaching them to a secure identity. At the center of the ecosystem to secure the Internet of Things is the WISeToken, our very own utility token designed to fuel the trust and security for its seamless application.
Enabling trust for connected objects
Without trust in them, connected objects will never see the light of day in mainstream usage despite how useful they can be. With organizations implementing connected objects both in their solutions and products, we have taken the initiative to support the latter by securing connected objects through the use of digital identities and digital certificates. Thus, through our solution, objects embedded with a digital identity and certificate can then be identified along with their rights to interact with other objects, making trust more than just an addition to connected objects. Instead, our solution embeds trust into connected objects.
Security from existing and functional solutions
Security is at the core of the trust we embed in connected objects. Unlike most cybersecurity platforms, ours has stood the test of time. With our digital identities which are secured by military graded bunkers, and our certification authorities being annually accredited, the importance we place in security can guarantee secure interactions between connected objects. Our security platform is backed by years of experience through the WISeKey Group, a leading global cybersecurity company, which has effectively held a functioning security platform for 19 years.
Tailored integration for organisations
Every object is different and has different functions. At WISeCoin, we understand that helping organizations integrate our solution into their objects is part of the process of enabling a new security standard for connected objects. Through the use of VaultIC Secure Element chips adapted to the needs of organizations, cryptographic processes to secure an object’s digital identity and certificate can be executed within the object, ensuring that any object can be made secure.
Seamless application for end users
For end users, reaping the benefits of connected objects secured by the WISeToken is seamless. Users only need to know that it is secured by WISeCoin and that their objects are secured and can be trusted. On the backend, connected objects are embedded with a VaultIC Secure Element chip, allowing them to hold a digital identity and certificate and to send verification requests to WISeCoin. Then, to fuel the engine that is WISeCoin’s security platform, objects send WISeTokens that they hold to WISeCoin’s PKI which then verifies that the identity held by an object’s rights to interact are valid.