WISeKey is looking to appeal to cryptocurrency enthusiasts with its VaultIC series of secure chips. The company specifically highlighted its utility in Cold Wallets, which it argues offer a higher level of security because the wallets are not connected to the internet.
The VaultIC chips, meanwhile, are tamper-resistant microprocessors built with firmware that enables a number of different cryptographic functions, including authentication. The solution is compatible with a wide variety of algorithms that meet the NIST standards, and supports secret keys and certificates with on-chip data storage capabilities. Other features include a hardware-based True Random Number Generator and a secure software environment that offers protected boot and firmware updates for IoT devices.
The VaultIC also supports contactless access and contactless transactions through the use of NFC technology. Cold Wallets running the solution can store multiple private keys with a single app. A backup copy of those keys will be stored in a military-grade bunker to give users a way to recover the wallet in the event that their hardware breaks or gets lost or stolen.
The new microprocessor arrives a few weeks after WISeKey launched a new WISeCoin service that uses blockchain technology to authenticate two devices being used in a digital transaction. Before that, the company agreed to provide microprocessors for the ThinC-AUTH biometric security key from Ensurity.
WISeKey is not the only company advocating for the use of Cold Wallets for cryptocurrencies. Arculus recently released its own cold storage device with encrypted NFC technology.