SEALSQ a provider and expert company specialising in semiconductor, PKI, and Post-Quantum technology development, has announced that in partnership with The Hashgraph Association, a Swiss-based organisation at the forefront of global digital enablement, have launched a new digital asset built on Hedera Network that caters to the Decentralised Physical Infrastructure Network (DePIN) sector, by enabling billions of Internet connected devices to autonomously engage in seamless data and currency exchanges.
Under the umbrella of Transactional Internet of Things, (TIoT), SEALCOIN is a hybrid payment and utility token for enabling billions of Internet-connected devices to autonomously engage in seamless data and digital asset exchanges. For example, IoT (Internet of Things) devices from various companies can now interact and access a range of services as well as transactions. This could include Smart Home devices where SEALCOIN could facilitate seamless payment for services like energy consumption, maintenance, and other services without human intervention. The list of applications goes on to include supply chain management, autonomous vehicles, smart cities, energy trading and more.
A significant milestone is being reached with the release of a M2M Proof of Concept (PoC) enabling the disintermediation of service providers for interconnected devices. The release is scheduled for mid-July 2024, with a comprehensive demo planned shortly thereafter, showcasing the innovative capabilities of SEALCOIN in enabling Service vs Payment transactions between machines.
Kamal Youssefi, President of The Hashgraph Association, said: “We are proud to have partnered with SEALSQ for the launch of such an innovative use case in the DePIN economy. The emergence of DePIN is a pivotal shift in the way physical infrastructure is designed, developed and deployed. The Hedera network enables secure and seamless micro payments between all internet-connected devices and will further accelerate growth of the M2M DePIN ecosystem.”
SEALCOIN is expected to launch in Q4 2024.