GENEVA & ZURICH, Switzerland--(BUSINESS WIRE)--WISeKey International Holding Ltd (WIHN.SW) (“WISeKey”), a leading Cybersecurity and IoT company, and Balluun Ltd (“Balluun”), a privately-held Swiss based B2B technology company, today announced the signing of a strategic partnership agreement with the World Trade Point Federation (“WTPF”), an international non-governmental organization, under which the parties will collaborate with the WTPF’s Trade Point network to create an online e-commerce consumer-facing environment (the “Trade Point Identity Eco-System”) where individuals and organizations working locally with Trade Point can create new business models based on secure electronic identity platforms and complete online transactions with confidence.
This trusted e-commerce platform will benefit from SSL, two factor authentication (2FA), and a secure user-centric Identity Eco-System employing WISeKey’s Cryptographic RootKey and Public Key Infrastructure (“PKI”) which allows organizations to quickly and securely deploy WISeKey’s proprietary Trusted Digital Certificates in order to authenticate and protect credentials and digital transactions for companies and users. This will allow the Trade Point network to integrate 2FA to add an extra layer of security to their online stores. The system will include an Electronic Trading Opportunity (“ETO”) application using a security process in which a valid ETO user must provide two means of identification: 1) a biometrics/username/password/digital certificate combination; and 2) a code generated in real-time by the Trade Point network that has a localized relation with the ETO user.
As per the terms of the agreement, the Trade Point e-commerce platform will consist of:
- Security by WISeKey, which will provide trusted identities to WTPF’s network of more than 100 trade information and facilitation centers which assist small- and medium- size enterprises in over 70 countries worldwide.
- Balluun’s “Balluun365” technology is a fully integrated and scalable social architectural solution that creates a digital marketplace where attendees can discover, connect, and shop anytime, anywhere. Balluun365 enables thousands of small- and medium- sized business around the world to cost effectively globalize their businesses in ways that were not previously feasible.
“We are focusing on delivering prosperity through trade by integrating small- and medium-sized enterprises from developing countries into global markets. In line with the Sustainable Development Goals (SDGs) set by the United Nations for 2030, WTPF is developing "Partnerships for Sustainable Development" with the aim to achieve economic growth that is inclusive and promotes decent jobs and equality,” stated Bruno Masier, President of the WTPF.
Carlos Moreira, CEO of WISeKey, commented, “The Trade Point B2B platform has been around since 1993 as one of the first ever and the largest e-Commerce platforms on the Internet. With the help of WISeKey and Balluun, Trade Point and other strategic partners will be able to provide a fully integrated e-commerce platform that focuses on B2C and B2B commerce, helping companies execute trusted e-commerce deals using the new generation ETO system.”
“We are very pleased to be participating in this key strategic initiative with WISeKey and the WTPF. Our partnership will help catalyze the growth of thousands of small- and medium- sized businesses around the world by allowing them to expand their global reach in a secure and cost-effective manner,” stated Roland Kümin, CEO of Balluun.
WTPF has been supporting the integration of SMEs, particularly from developing and least developed countries, into the global trading system through its network of physical Trade Point offices around the world and leveraging on its online presence to help bring products to markets.
This partnership represents a unique opportunity for our members to leapfrog into the most advanced technologies with key technology partners to secure a trusted environment for their SMEs members to build commercial relationships and to leverage on the business opportunities provided by E-commerce.
About World Trade Point Federation
The WTPF, an international non-governmental organization established in 2000, grew out of the United Nations Conference on Trade and Development (UNCTAD). Through a network of more than 100 Trade Point - trade information and facilitation centers - the WTPF assists small and medium enterprises (SMEs) in over 70 countries worldwide to trade internationally through the use of electronic commerce technologies.
WTPF platform is in line with the United Nations ID2020, a not-for profit corporation seeking to build a platform to harness innovation and enable emerging digital technology to address the challenge of creating legal identities for vulnerable populations.
About WISeKey
WISeKey (SIX Swiss Exchange: WIHN) is a leading cybersecurity company which has been selected as a World Economic Forum Global Growth Company. WISeKey is currently deploying large scale Internet of Things (“IoT”) digital identity ecosystems and has become a pioneer of the “4th Industrial Revolution” movement launched this year at the World Economic Forum in Davos. WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) integrates wearable technology with secure authentication and identification, in both physical and virtual environments, and empowers IoT and wearable devices to become secure transactional devices. The RoT serves as a common trust anchor, which is recognized by the operating system and applications, to ensure the authenticity, confidentiality and integrity of on-line transactions. With the cryptographic RoT embedded on the device, the IoT product manufacturers can use code-signing certificates and a cloud-based signature as a service to secure interactions among objects and between objects and people. WISeKey has patented this process in the USA as it is currently used by many IoT providers.
About Balluun
Balluun is transforming international B2B wholesale commerce by launching industry specific social commerce networks (“Domains”) that enable wholesale trading partners (suppliers, manufacturers, exporters, retailers, buyers, importers) to discover, connect, post and exchange relevant information while facilitating an efficient buying and selling process among industry members. With over 40,000 existing members across five different Domains, Balluun has a proven SaaS technology built on a universal and scalable cloud-to-mobile architecture (“Balluun365”). Balluun’s customer acquisition and expansion strategy allows for the creation of a highly engaged and industry specific marketplace where Balluun can cost effectively market the value of its subscription service offerings.
Disclaimer:
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and Balluun ltd. and their businesses, together the “Companies”. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of the Companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The Companies are providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Investors must rely on their own evaluation of the Companies and their securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of the Companies.
