The Hashgraph Association and SEALSQ Build the Future of Decentralized Physical Infrastructure Network (DePIN) on the Hedera DLT Network

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May 07, 2024, 08:30 ET

This partnership leverages SEALSQ's commitment to develop a machine-to-machine (M2M) economy for digital assets through advanced security technologies.

NEW YORK, May 7, 2024 /PRNewswire/ -- SEALSQ Corp (NASDAQ: LAES) ("SEALSQ" or "Company"), a leader in semiconductor, PKI, and Post-Quantum technology development, today announced that in partnership with The Hashgraph Association, a Swiss-based organization at the forefront of global digital enablement, have launched a new digital asset built on Hedera Network that caters to the Decentralized Physical Infrastructure Network (DePIN) sector, by enabling billions of internet connected devices to autonomously engage in seamless data and currency exchanges.

Under the umbrella of Transactional Internet of Things, (TIoT), SEALCOIN is a hybrid payment and utility token for enabling billions of internet-connected devices to autonomously engage in seamless data and digital asset exchanges. For example, IoT ( Internet of Things) devices from various companies can now interact and access a range of services as well as transactions. This could include smart home devices where SEALCOIN could facilitate seamless payment for services like energy consumption, maintenance, and other services without human intervention. The list of applications goes on to include supply chain management, autonomous vehicles, smart cities, energy trading and more.

A significant milestone is being reached with the release of a M2M Proof of Concept (PoC) enabling the disintermediation of service providers for interconnected devices. The release is scheduled for mid-July 2024, with a comprehensive demo planned shortly thereafter, showcasing the innovative capabilities of SEALCOIN in enabling Service vs Payment transactions between machines.

Kamal Youssefi, President of The Hashgraph Association noted, "We are proud to have partnered with SEALSQ for the launch of such an innovative use case in the DePIN economy. The emergence of DePIN is a pivotal shift in the way physical infrastructure is designed, developed, and deployed. The Hedera network enables secure and seamless micro payments between all internet-connected devices and will further accelerate growth of the M2M DePIN ecosystem."

SEALCOIN is expected to launch in Q4 2024 and will then be listed on a digital asset exchange. The launch will introduce the Purchasing and Tokenization of Certificates (MVP), marking a major step forward in bridging a strong physical network to the secure Digital infrastructure of Hedera's network.

"Our vision with SEALCOIN is to redefine the boundaries of secured P2P transactions, in the physical and the digital world," said Carlos Moreira, CEO of SEALSQ. "By cooperating with Hashgraph Association on SEALCOIN, we are not just introducing another Token; we are setting the stage for a future where transactions and services in the digital space are seamless, secure, and efficient. Our work to validate a M2M PoC, upcoming platform launch, to be followed by a strategic listing on a digital exchange, are all steps toward realizing this vision. We are excited about the future and invite the community to join us on this journey."

About SEALSQ

SEALSQ focuses on selling integrated solutions based on Semiconductors, PKI and Provisioning services, while developing Post-Quantum technology hardware and software products. Our solutions can be used in a variety of applications, from Multi-Factor Authentication tokens, Smart Energy, Smart Home Appliances, and IT Network Infrastructure, to Automotive, Industrial Automation and Control Systems.

Post-Quantum Cryptography (PQC) refers to cryptographic methods that are secure against an attack by a quantum computer. As quantum computers become more powerful, they may be able to break many of the cryptographic methods that are currently used to protect sensitive information, such as RSA and Elliptic Curve Cryptography (ECC). PQC aims to develop new cryptographic methods that are secure against quantum attacks.

For more information, please visit www.sealsq.com

Forward-Looking Statements

This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipates will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the success and timeline of SEALCOIN's launch; the timeline for and the successful release of the Machine-to-Machine (M2M) Proof of Concept (PoC); SEAL's token Issuance and Exchange Listing before the end of 2024; SEALSQ's ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; and the risks discussed in SEALSQ's filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC.

SEALSQ Corp 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.

About The Hashgraph Association

The Hashgraph Association is at the forefront of the digital enablement and empowerment of organizations through the broad adoption of Hedera-powered enterprise-grade solutions and decentralized applications, including funding training, innovation, and venture building programs globally. As a non-profit organization headquartered in Switzerland, The Hashgraph Association supports and funds innovation, research, and development that enables economic inclusion and a digital future for all, with a positive environmental, social, and governance (ESG) impact. For further information about The Hashgraph Association, visit www.hashgraph-association.com.

SOURCE The Hashgraph Association