Switzerland-based Blockchain, Internet of Things (IoT) and cyber security firm WISeKey has acquired a 22-percent stake in American data infrastructure company Tarmin with a multi-million dollar transaction, the exact amount of which is unspecified. WISeKey announced this on April 3 in an official announcement.
WISeKey focuses on creating digital identity ecosystems that implement blockchain, AI and IoT technology for humans and smart devices, while Tarmin develops scalable, data and software-defined infrastructures for managing high-volume data and secure storage, WISeKey’s agreement to acquire a 22% stake in Tarmin had already been signed last autumn.
WISeKey + Tarmin’s secure cloud
The investment enables WISeKey to integrate Tarmin’s secure cloud offering and data management architecture – the GridBank Data Management Platform – into WISeID.com. WISeKey believes integration will help the company overcome the challenges associated with long-term storage and management of large volumes of data and derive added value.
Even if the volume of data “grows exponentially, costs increase and there are greater regulatory risks,” WISeKey says, companies have the opportunity to “gain information that can be used in company-relevant information”.
By implementing decentralized trust models, WISeKey’s evolving secure data ecosystems can be unified via a unique digital identity, giving users control over the storage, access, and use of their data:
“By decoupling application content and digital identity itself, users will be able to leverage their data as a currency and develop solutions based on digital data dividends”.
GridBank is also involved
As part of the Tarmin partnership, WISeKey will also use GridBank’s search and e-discovery capabilities, audit and retention policies, and encryption capabilities in combination with the WISeID Signing Agent to provide proven data rooms and legal solutions.
GridBank will also integrate with WISeKey MPKI and use TLS / SSL encryption to sign, encrypt and authenticate email communications.
As reported, WISeKey recently launched a new blockchain-based digital identity solution to protect IoT devices and their data. As part of a new partnership with the Blockchain Research Institute, the company also opened a Blockchain Center of Excellence in Geneva this February.
WISekey also announced the opening of a Global Blockchain Center in Malaysia in partnership with a subsidiary of the Malaysian tech investment holding Censof.
Also published on Medium.