GENEVA & ZURICH--(BUSINESS WIRE)--The World Trade Point Federation (“WTPF”), an international non-governmental organization, The OISTE Foundation, a not-for-profit international organization regulated by article 80 et seq. of the Swiss Civil Code with proprietary rights upon a Root Cryptographic Key that allows robust digital certification of persons and objects and WISeKey International Holding Ltd (WIHN.SW) (“WISeKey”), a leading Cybersecurity and IoT company, today announced at WSIS 2017 their launch of a New Generation of Trade Points integrating latest technologies on digital identification for Traders and their companies and products (IoT) working on an online e-commerce consumer-facing environment (the “Trade Point Identity Ecosystem”) where individuals and organizations working locally with Trade Point can create new business models based on secure electronic identity platforms and complete online transactions with confidence.
This New Generation of Trade Points connecting to a WTPFed trusted e-commerce platform will benefit from SSL, two factor authentication (2FA), and a secure user-centric Identity Eco-System employing WISeKey’s Cryptographic RootKey and Public Key Infrastructure (“PKI”) which allows organizations to quickly and securely deploy WISeKey’s proprietary Trusted Digital Certificates in order to authenticate and protect credentials and digital transactions for companies and users. This will allow the New Generation of Trade Point network to integrate 2FA to add an extra layer of security to their online stores. The system includes a new Electronic Trading Opportunity (“ETO”) application using a security process in which a valid ETO user must provide two means of identification: 1) a biometrics/username/password/digital certificate combination; and 2) a code generated in real-time by the Trade Point network that has a localized relation with the ETO user.
The New Generation of Trade Points will include:
- Security by WISeKey, which will provide trusted identities to WTPF’s network of more than 100 trade information and facilitation centers which assist small- and medium- size enterprises in over 70 countries worldwide.
- Trusted Cloud Platform allowing Trade Points to act as Trusted City Hubs connecting their Traders on a frontier free authenticated trade community.
- Business around the world to cost effectively globalize their businesses in ways that were not previously feasible.
Carlos Moreira, CEO of WISeKey, commented, “The New Generation Trade Point will enhance the original Trade Point Network that has been around since 1993 as one of the first ever and the largest E-Commerce platforms on the Internet. With the help of WISeKey and OISTE.ORG New Generation of Trade Point and other strategic partners will be able to provide a fully integrated e-commerce platform that focuses on B2C and B2B commerce, helping companies execute trusted e-commerce deals using the new generation ETO system.”
“We are focusing on delivering prosperity through trade by integrating small- and medium-sized enterprises from developing countries into global markets. In line with the Sustainable Development Goals (SDGs) set by the United Nations for 2030, WTPF is developing 'Partnerships for Sustainable Development' with the aim to achieve economic growth that is inclusive and promotes decent jobs and equality,” stated Bruno Masier, President of the WTPF.
While ecommerce remains wildly insecure and many fake companies and products compromise the security and integrity of existing ecommerce platforms, thanks to the integrated solution operated by the New Generation of Trade Points, Traders and their products will able to organize themselves into trusted networks based on mutual authentication, identity and integrity. WISeKey will be gradually adding technology to this extended network and is also adding technologies such as blockchain and AI to provide authenticated traders and product big data that they can use to improve their efficiency. Current ecommerce data do not provide value for their manufacturers unless it can be converted into actionable, contextualized information generated by identities that are fully identifiable. New Generation of Trade Points will go a long way towards making global trade more secure, authenticated and inclusive and provide much needed support SMEs globally.
WTPF has been supporting the integration of SMEs, particularly from developing and least developed countries, into the global trading system through its network of physical Trade Point offices around the world and leveraging on its online presence to help bring products to markets.
About OISTE Foundation
The OISTE Foundation has been working with the UN and other governmental and non-governmental international organizations since 1998. Today, in line with the United Nation’s Sustainable Development Goals, target 16.9 – giving everyone a legal identity by 2030 – OISTE focuses on the challenge of harnessing digital identity for the global community.
OISTE holds special consultative status with the Economic and Social Council of the UN (ECOSOC) and is an accredited member of the Non-commercial Users Stakeholders Group (NCSG) of ICANN as part of the Not-for-Profit Operational Concerns (NPOC) constituency.
The OISTE Foundation endorses the “Principles on Identification for Sustainable Development”.
About World Trade Point Federation
The WTPF, an international non-governmental organization established in 2000, grew out of the United Nations Conference on Trade and Development (UNCTAD). Through a network of more than 100 Trade Point – trade information and facilitation centers – the WTPF assists small and medium enterprises (SMEs) in over 70 countries worldwide to trade internationally through the use of electronic commerce technologies.
WTPF platform is in line with the United Nations ID2020, a not-for-Profit Corporation seeking to build a platform to harness innovation and enable emerging digital technology to address the challenge of creating legal identities for vulnerable populations.
WISeKey (SIX Swiss Exchange: WIHN) is a leading cybersecurity company currently deploying large scale Internet of Things (“IoT”) digital identity ecosystems and has become a pioneer of the “4th Industrial Revolution” movement. 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.
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on ass, a promise or representation as to the future performance of WISeKey.