WISeKey International Holding Ltd. ("WISeKey" or the "Company") ((SIX: WIHN, NASDAQ:WKEY), a leading global cybersecurity and IoT company operating as a holding company, today announced that its subsidiary Sealcoin AG, which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform, is announcing the final timeline for the SEALCOIN project, including the highly anticipated release of its whitepaper in October 2024. The whitepaper will unveil the strategic vision, technical roadmap, and comprehensive tokenomics of SEALCOIN, marking a major milestone in the platform's development.
Key Milestones and Timeline:
- Proof of Concept (PoC): Successfully executed on July 25, 2024, demonstrating the platform's ability to facilitate secure, autonomous IoT transactions.
- Pre-Seed Investment: Raised $2 million in mid-2024, positioning SEALCOIN for accelerated growth and development.
- FINMA Application: SEALCOIN AG is about to submit its application to the Swiss financial regulator FINMA, ensuring full regulatory compliance as the project advances.
- Platform Development: Officially launched in Q3 2024, the SEALCOIN platform's development is underway, leveraging Hedera Hashgraph technology for enhanced scalability and security.
- Platform Production Release and Token Issuance: The SEALCOIN platform will go live, and the token will be officially issued, expected in mid-2025.
- Token Listing: SEALCOIN is targeting a digital exchange listing by Q3 2025, to provide liquidity and accessibility for token holders worldwide.
Whitepaper Release in October 2024
The SEALCOIN whitepaper, set to be released in October 2024, will provide an in-depth look at the platform's technical architecture, governance model, and tokenomics. The document will outline SEALCOIN's approach to enabling secure, decentralized, and autonomous transactions between IoT devices, powered by Hedera Hashgraph. Detailed tokenomics will include the allocation and distribution structure, vesting schedules, and SEALCOIN's role as both a utility and payment token within the platform.
The SEALCOIN Platform and Token Beta Version will be released as an MVP (Minimum Viable Product) on Hedera's TestNet in Q1 2025. This milestone will allow users and developers to test SEALCOIN's core functionalities in a controlled environment, showcasing the platform's decentralized transaction capabilities between IoT devices and ensuring the smooth operation of the SEALCOIN token within the ecosystem before the full production release, set in Summer 2025.
Carlos Moreira, CEO of SEALCOIN AG, commented, "With our PoC successfully completed and development in full swing, we are excited to share our roadmap and vision for the future of IoT transactions. The upcoming whitepaper will provide the community with full transparency on our tokenomics and the strategic steps we're taking to achieve full decentralization."
