GENEVA - SEALSQ Corp (NASDAQ:LAES), specializing in semiconductor and post-quantum cryptography technology, has unveiled plans for the launch of its SEALCOIN platform and token. SEALCOIN, a hybrid payment and utility token, is expected to facilitate transactions and services for internet-connected devices within its Decentralized Physical Infrastructure Network (LON:NETW) (DePIN).
The company has scheduled the platform launch for October 2024, with a Machine-to-Machine (M2M) Proof of Concept (PoC) demo set for mid-July 2024.
SEALCOIN aims to enable devices to autonomously conduct data and currency exchanges, marking a significant advancement in the realm of secured peer-to-peer (P2P) transactions. The upcoming M2M PoC will demonstrate the disintermediation of service providers in interconnected device networks. Following the platform's debut, SEALSQ plans to issue SEALCOIN tokens and pursue a listing on a digital exchange.
Carlos Moreira, CEO of SEALSQ, expressed the company's ambition to reshape secured transaction landscapes in both the physical and digital domains. He emphasized the strategic steps being taken towards this goal, including the M2M PoC, platform launch, token issuance, and exchange listing.
SEALSQ's focus extends to selling integrated solutions based on semiconductors and provisioning services, as well as developing hardware and software products for Post-Quantum Cryptography (PQC). PQC is designed to withstand potential threats posed by quantum computing to current cryptographic methods.
The company's forward-looking statements indicate that the success and timing of SEALCOIN's launch, the M2M PoC release, token issuance, and exchange listing are subject to market conditions and other factors that could impact the outcomes. SEALSQ has highlighted the inherent risks and uncertainties in its SEC filings.
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