WISeKey presented at Davos Blockchain Hub Progress

WISeKey presented at Davos Blockchain Hub Progress made with the deployment of the WISeID Metaverse

WISeKey International Holding Ltd, a leading global company in cybersecurity, Blockchain and IoT platforms, discussed progress on the development of the WISeID Metaverse during its Davos 2023 event, held on 18 January 2023.

The WISeID Metaverse mission is to develop a reliable, secure, multipurpose open source engine that anyone can use to build interoperable identities and crypto-wallets under user control and consent.

WISeKey is working with OISTE.ORG and several blockchains to set best practices for digital identity and cryptowallet technology through open source collaboration that can be used as a starting point for anyone striving to build an interoperable, secure and privacy-protecting ID metaverse.

At the event, Carlos Moreira, WISeKey’s founder and CEO discussed how enhanced digital identities Avatars will allow us to navigate the metaverse using the WISeID technology that delegates the company’s presence on the Metaverse to authenticated versions of ourselves created via machine learning that will navigate and do everything types of transactions on our behalf.

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Digital identities should be under user control, rather than platform control, for several reasons:

• Users have the ability to keep their personal information private and secure. Platforms, on the other hand, can use user data for their own gain or share it with third parties without the user’s consent.
• Users maintain the continuity of their identity across different platforms, rather than being forced to create multiple identities on different platforms.
• Promotes competition between platforms, as users will be able to easily move their identity from one platform to another.

WISeID first generation acts as a trusted identity service that provides access to the web and mobile applications with strong authentication techniques. WISeID supports online KYC onboarding, OTP and digital certificate login, and an innovative “hands-free” secure login based on QR codes that users can read using the WISeID suite of mobile applications without even having to enter a password.

WISeID is an innovative approach to people’s identity that can protect online interactions for individuals and businesses. WISeID provides users with a digital identity that can be used to secure email communications, digitally sign documents with legal validity and it is complemented by features such as two-factor authentication and single sign-on. WISeID is based on the WISeKey/OISTE Root of Trust and integrates innovative blockchain technologies to distribute the identity attributes and build federated ecosystems. WISeID supports online KYC onboarding, OTP and an innovative “hands-free” secure login based on QR codes that users can read using the “My WISeID” mobile application without even having to enter any password. Additional security services include digital signature services for documents

Additional security services include digital signature services for documents. WISeID implements standards such as OpenID Connect and OAUTH2, which can be easily integrated by customers to improve the security of their cloud applications. WISeID can also be combined with Microsoft Active Directory, which facilitates integration with enterprise applications.

WISeID second generation digital identities in Metaverse include an identification module built into the protocol, while additional applications will be developed. Users will have autonomy over their identity, meaning they have full control over their personal identification information and therefore do not need to rely on any central entity or third party for identity verification. With a true NFT identity, users can create, sign and verify claims, while parties interacting with a user will be able to prove their identity. In addition, users will be able to selectively disclose their information.

Users can establish a reputation on Metaverse through digital identities, improving the way we exchange value. Value is exchanged through digital signatures, verification requests and transactions; These transactions then allow a user to gradually build a reputation that can be inspected and verified by other digital identities and value intermediaries.

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