WISeKey, WISeCoin, a special purpose vehicle created by WiseKey International Holding Ltd signed a partnership deal with the New Mingwah Blockchain Technology Co Ltd to increase the security of their CoinId wallet. The objective of this partnership is to build additional security layers in CoinId wallet to make sure the transactions are done securely. As part of the agreement, going forward, both companies will actively support each other. WISeCoin will offer its support to CoinId in terms of building a global presence while CoinId will support WISeCoin to build its presence in the Chinese market.
WISeCoin was established in August 2018 in Zug Switzerland and has been managing all Blockchain operations of WISeKey. WISeCoin uses Trusted Distributed Ledger Technology of Identity to store objects and people's identity. Carlos Moreira, FouCarlos Moreira, Founder, and CEO of WISeKey stated that adding their unique layers of security to emerging applications like CoinId is an integral part of their mission and strategy. He further added that they wanted to ensure the integrity of emerging technologies and the security of their users. The WISeKey architecture combines proprietary cybersecurity software and microcontrollers to protect connected devices against cyber threats.
New Mingwah also seems positive and they are keenly focused on improving their global presence through this partnership. The company currently owns the China Investor’s patent: ECC algorithm data encryption and decryption method. They are backed by big names such as Amphora Capital and Shenzhen Amphora Fund.
It is believed that this partnership will significantly boost the CoinId’s already existing strong security layers by employing WISeKey’s cyber technologies backed by the SWISS OITE foundations' unique cryptographic Root of Trust. WISeCoin made an official announcement that they are making plans to host an STO in 2019 but was later dropped down as they received a “no-Action Letter” from the Swiss Financial Supervisory Authority(FINMA).
Your rate 3 stars is recorded
StartupWorld is the destination to learn about new and upcoming startups making waves on the web. Being an entrepreneur is as much hard work as it is fun. No one knows it better than you do. Share your story, send it in and let us showcase it to the world.