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WISeKey and Stratumn Join Forces to Use Blockchain for Real-Time Accountability and Traceability in Enterprise Processes

WISeKey, a leading provider in Root of Trust and certificate authority, and Stratumn,  inventors of Proof of Process Technology, have partnered up to provide enterprise grade process security software based on Blockchain technologies.

Stratumn is a pioneering software security company that is enabling a shift in how organizations secure their critical processes and think about data security. Enabling traceability, data integrity and on-demand transparency, Stratumn’s Proof of Process Technology reduces the complexity of interactions between partners, customers, auditors and regulators, thus reducing operational frictions and costs.

Proof of Process Technology offers a common audit trail, secured by Blockchains and cryptography, where stakeholders can collaborate without revealing their private and confidential data. This protocol relies on an advanced consensus mechanism based on the authority of a pre-configured set of identified stakeholders to secure the Blockchain. This approach makes private Blockchains easier to maintain and administer, while keeping participants accountable.

As a global leader in identity, a recognized root key provider and certificate authority, WISeKey provides the Identity layer crucial to implementing Proof of Process. By combining their offerings, Stratumn and WISeKey will enable better accountability and traceability in complex industrial processes. These technologies are directed towards applications in insurance, finance, energy, industry, luxury goods and healthcare, amongst others.

Carlos Moreira, CEO of WISeKey noted:

“We are pleased to partner with Stratumn, a pioneer in Blockchain technology. Through our partnership with Stratumn we will offer corporations around the world a secure and trusted way to communicate and build relationships with clients and partners, minimize risks and maximize growth potential by integrating our Virtual Trust Platform with Blockchain.”

“Public Blockchain networks rely on algorithms such as Proof of Work to align the economic incentives of participants. This is a property of a Blockchain in which participants do not know each other,” explains Richard Caetano, CEO of Stratumn. “Enterprises today have much different security requirements as contractual agreements and regulations require companies to know and trust the identity of their clients, suppliers and partners. Identity management and strong authentication are key components to ensure accountability and traceability in processes where multiple participants are involved. As a Root of Trust certificate authority, WISeKey provides Stratumn with a fundamental component to Proof of Process.”

On January 18th, Mr. Moreira and Mr. Caetano participated at the 5th annual WISeKey Cyber Security Roundtable at Davos Switzerland. This panel discussion, for which the topic was “Blockchain & The Internet of Value”, included notable figures in the Blockchain industry, such as author Don Tapscott, Blockchain researcher Primavera De Filippi and Lykke Founder Richard Olsen.

During this panel, participants brought up a number of topics central to the adoption and deployment of Blockchain technologies, specifically by global enterprises and government institutions.

Mr. Caetano pointed out that as enterprise clients need to work together on common workflows, such as supply chains, a standardized, interoperable platform is needed to avoid the problems of siloed, incompatible networks. Implemented in enterprise systems, Proof of Process Technology with Blockchain infrastructure could be used as the underlying framework on which business and operational decisions can be made with confidence.

This would enable the implementation of “built-in” regulation, effectively reducing the cost of regulatory compliance and auditing.

WISeKey (SIX Swiss Exchange:WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems with a patented process. WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of on-line transactions among objects and between objects and people.

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Stratumn is a Paris-based security software company that partners with large organizations to secure their critical processes. Stratumn’s Proof of Process Technology enables traceability, transparency and data integrity, thus reducing costs and complexity of the interactions between partners, customers, auditors and regulators. The solution offers a common audit trail, secured by Blockchains and cryptography, where stakeholders can collaborate without revealing their private and confidential data.

Established in 2015, Stratumn is a VC-backed company, having raised €600,000 in seed funding in February 2016 with Otium Venture and Ledger CEO, Eric Larchevêque.

To stay up to date on Stratumn developments, follow the Stratumn blog.

Richard Kastelein
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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