SEALSQ Corp, an organization that focuses on creating and promoting Semiconductors, PKI and Submit-Quantum expertise {hardware} and software program merchandise, has introduced that its funding in Wecan Group, is accompanied by a technological integration that aligns two highly effective compliance applied sciences: WISeID, the digital identification platform developed by SEALSQ’s guardian firm, WISeKey Worldwide Holding Ltd, a world cybersecurity, blockchain and IoT firm, and Wecan Comply, WecanGroup’s decentralised compliance and knowledge vaulting resolution. Of notice, earlier this 12 months, SEALSQ entered into an settlement below which SEALSQ will purchase a 30% fairness stake in Wecan Group.
This collaboration marks a step within the evolution of digital identification and compliance, positioning the Wecan Token as a dynamic utility token for accessing identification verification providers, now prolonged to incorporate WISeID Verified ID.
Increasing token utility, strengthening identification requirements
Till now, the Wecan Token has been the important thing to accessing Wecan Group’s collaborative KYC platform.
Shifting ahead, the scope of the token is being expanded:
Customers may even have the ability to buy WISeID Verified Identities utilizing the Wecan Token, reinforcing the token’s place as a world normal for safe, verifiable and compliant digital identification providers.
This expanded integration dynamically will increase the worth and utility of the Wecan Token, enabling frictionless entry to each institutional-grade compliance instruments and superior digital identities secured by WISeKey’s trusted infrastructure.
Addressing a $3,500-per-customer downside
With over 1.4 billion unbanked people worldwide and a further 4.5 billion already banked, the annual compliance burden on monetary establishments can attain as much as $3,500 per buyer. By centralising and mutualising verified identification knowledge, Wecan’s compliance infrastructure — now enhanced by WISeID — can cut back these prices by a minimum of 30%, whereas accelerating onboarding and evaluate processes.
A safe, tokenised framework for the AI period
In a digital panorama more and more weak to synthetic intelligence (AI)-generated doc fraud, the mixed energy of blockchain traceability, hardware-secured identification (SEALSQ), and mutualised compliance information (Wecan Comply) delivers an identification verification system that’s quick, cost-effective and extremely immune to fraud.
“The combination between WISeID and Wecan Comply positions the Wecan Token as the brand new world normal for transactional digital identification,” mentioned Carlos Moreira, CEO of SEALSQ. “It’s a significant step towards constructing an Web of Belief, the place people can show who they’re with the identical ease and confidence as logging in to an app.”
Tokenomics and development outlook
With a capped provide of 6 billion tokens, the anticipated surge in demand for tokenised identification providers, each from people and monetary establishments, positions the Wecan Token for vital worth appreciation. Even at a valuation of $1 per token, the price of identification verification stays far beneath present business requirements, providing a compelling financial benefit to adopters.
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