GENEVA & PORT LOUIS, Mauritius--(BUSINESS WIRE)--WISeKey International Holding Ltd (“WISeKey”)(SIX:WIHN), a leading cybersecurity company, during its participation at the Mauritius Investment Board Blockchain event, announced its intention to establish a BlockChain Centre of Excellence in Mauritius to deploy a Trusted Blockchain as a Service platform, to assist the Mauritius Government to create a Blockchain Ecosystem.
WISeKey will work with experts from industry, government, and academia to address businesses’ most relevant blockchain developments with practical, standards-based solutions using available blockchain technologies. This dedicated center of excellence will conduct research, rapid pilot prototyping, co-creation of use cases and IP creation on blockchain technology and platforms. The Mauritius BlockChain Centre of Excellence will recommend a National Blockchain Platform to facilitate enterprises to swiftly adopt and on-board blockchain based solutions and services.
The Mauritius Blockchain Center of Excellence will help position the country as a key and active player in the blockchain space. It will provide access to both policy, technical and business expertise around blockchain. WISeKey will be cooperating with local companies participating at the center on building points of view, proof of concepts, policies, educational materials including addressing all the distributed ledger capabilities across different blockchain schemes (public, consortium and private), with industry verticalization and domain specialization (IoT, transactions, messaging, etc.), underpinned by the best underlying technologies from startups, our key partners and from the community.
Carlos Moreira, Founder and CEO WISeKey said: "We strongly believe that the Blockchain Center of Excellence will disrupt business flows and processes across different industries in Mauritius and will position the country as one of the Blockchain Platforms and Hubs."
WISeKey will be localizing in Mauritius at the development of the WISeID Blockchain which is constantly growing as new blocks are added to it with a new set of recordings. Each WISeID node gets a copy of the WISeID Blockchain and gets downloaded automatically upon joining the WISeID network. Through the WISeID BlockChain app users are always in control of their digital identity stored on their mobile, IoT sensor and or computer and is only the user who determines which identification attributes are shared with social media, credit cards, merchant sites etc. never disclosing the Personal Identifiable Information (PII) if not required or necessary. WISeID uses BlockChain as a public, immutable ledger that allows third parties to validate that the original Identity or Attribute certifications provided by a Third Trusted Party has not been changed or misrepresented. Keeping control of Digital Identity is key to protecting user’s personal data.
The Mauritius Event: The next Blockchain Valley
Organized by Board of Investment (BOI) of Mauritius
The Board of Investment (BOI) is the national investment promotion agency of the Government of Mauritius with the mandate to promote and facilitate investment in the country. It is the first point of contact for investors exploring business opportunities in Mauritius and the region. BOI also assists investors in the growth, nurturing and diversification of their business.
BMPL Ebene Cybercity has today been the scene of a historical landmark in the shaping of our digital economy.
The very first seminar on Blockchain exceeded our expectations with overwhelming appreciation from the audience. More than 200 stakeholders across various sectors, including Banks, Assets Management, Insurance, Tourism, ICT and entrepreneurs from over the world attended the seminar.
As an indication, investments in bitcoin and Blockchain infrastructure have already topped USD 1 billion, and every major bank in the world is increasingly paying attention to this technology.
The seminar saw the participation of renowned international speakers who intervened on diverse themes, namely demystifying Blockchain, developing its ecosystem, its regulatory framework and the potential applications of Blockchain in today’s innovation-driven economy.
Mr. Carlos Creus Moreira, Chairman, CEO & Founder of WISeKey made a clear presentation of Blockchain technology. He highlighted the differences between Blockchain and other technologies such as cloud computing, and expanded on the potential in creating revolutionary solutions which do not exist in the marketplace today.
Mr. Sébastien Couture, co-founder of Stratumn, demonstrated how Blockchain builds consensus around multiple institutions, enterprises and individuals working together by eliminating the role of the middleman and improving efficiency while at the same time improving trust between all the parties.
His colleague, Mr. Anuj Das Gupta, Head of Research at Stratumn, elaborated further on the subject by discussing the potential applications of Blockchain, including in KYC systems and Smart cities. He also suggested that Blockchain technology could be used in diverse sectors such as energy and healthcare.
We also had the pleasure of listening to Ms. Primavera de Fillippi, Researcher at Centre National de Recherche Scientifique, who elaborated on the need for a shift in the regulatory mindset, moving from a bureaucracy base, friction and permission (permission-based rules) to one based on accountability, transparency and innovation (information-based rules) in a bid to reconcile the objectives of providing comfort and security to users while ensuring that regulations do not stifle innovation.
Finally, Mr. Larry Christopher Bates, Chief Security Officer and President of Bitland Global, suggested that Mauritius can become the “Blockchain Valley” through the advent of a cyber-security Hague for international data-houses. He maintained that this will inevitably contribute to economic growth.
Blockchain as a technology is here to stay. The onus remains on us to harness its advantages and leverage them for the benefit of Mauritian businesses, consumers and the Government. In addition, Blockchain KYC’s efficiencies and cryptographic protocols deliver stronger security and faster compliance with reduced operating costs.
The seminar has set the scene for this technological revolution. We now have to develop the Blockchain ecosystem, including devising an appropriate regulatory framework, build the local manpower and encourage both public and private sectors to integrate the technology in their structures to trigger a new phase of efficiency led by the growth of their ventures.
A small country, Mauritius has the potential to rapidly implement Blockchain in day-to-day business.
Far from being the end, this is rather the dawn of a new beginning. We will follow up on this seminar with another one in a few months. The objective is to maintain the momentum, attract more global players and position Mauritius as a trusted and secure platform in the region for the deployment of Blockchain technology.
Already, WISeKey and Bitland have indicated that they are considering setting up operations in Mauritius.
This can only bode a bright future for the next ‘Blockchain Valley.’
WISeKey (SIX Swiss Exchange:WIHN) is a leading cybersecurity company and selected as a World Economic Forum Global Growth Company. WISeKey is currently deploying large scale Internet of Things (“IoT”) digital identity ecosystems and has become a pioneer of the “4th Industrial Revolution” movement launched this year at the World Economic Forum in Davos. WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) integrates wearable technology with secure authentication and identification, in both physical and virtual environments, and empowers IoT and wearable devices to become secure transactional devices. The RoT serves as a common trust anchor, which is recognized by the operating system and applications, to ensure the authenticity, confidentiality and integrity of on-line transactions. With the cryptographic RoT embedded on the device, the IoT product manufacturers can use code-signing certificates and a cloud-based signature as a service to secure interactions among objects and between objects and people. WISeKey has patented this process in the USA as it is currently used by many IoT providers.
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