WISeKey Cybersecurity Technology secures TraNexus Blockchain based Travel Engine
TraNexus Will Be A New Blockchain Travel Platform For Apps That Manage Documents, Currencies, Bookings And Experiences To Make Travel Easier, Better Value, Greener And More Fun
WISeKey International Holding Ltd (WISeKey), a leading Swiss cybersecurity, Blockchain and IoT solutions company, today announced that it has partnered with TraNexus, headquartered in Dublin, Ireland, to secure the TraNexus Blockchain Engine, using WISeKey’s Cybersecurity IoT technology.
This will be a new Blockchain Travel platform for apps that manage documents, currencies, bookings and experiences to make travel easier, better value, greener and more fun. TraNexus will streamline the travel process for business travelers and tourists alike while creating an entirely new travel experience for green-minded adventure-seekers around the world, with a heavy emphasis on augmented reality and big data applications.
Through the partnership, the TraNexus Blockchain Platform will be secured by the WISeKey RooT of Trust (RoT) technology for IoT, a unique offering that combines all the hardware, software, and Trust Model required to take the blockchain security to a new level. The WISeKey RoT for Blockchain is a vertical security framework, a one-stop-shop security software tool with a user-friendly interface and easy-to-integrate API that manages the life-cycle of devices and their digital certificates. Easy to implement, hard to attack, the WISeKey Trusted Blockchain framework offers secure solutions even when the IoT device is in an unsecured environment, such as during production or in the field.
The TraNexus Wallet will initially be a central storage location for Bitcoin (BTC), Ethereum (ETH), WISeCoins and TraNexus Coin (TNX). Users will be able to purchase TNX inside the application and also be able to instantly convert between Bitcoin & Ethereum whenever they want to do so. The wallet will also be an assembly point for all electronic documentation for the trip as well as the digital identity of the traveler. Ultimately it will become the go to place for e-visas, tickets, hotel bookings etc. as well as the vehicle for payment.
WISeKey will secure the TraNexus Wallet providing users with contactless access to their private key and allowing them to make contactless transactions and payments. The TraNexus Wallet uses a combination of Near Field Communication (“NFC”) technology with highly secured solutions provided by the WISeKey Semiconductors and will now be available through the TraNexus Wallet App. Every time a contactless Blockchain transaction is made, such as a cryptocurrency transaction, the private key is verified from the NFC Hardware storage to enable the transaction. While the exchanges and software wallets continue to get hacked, the hardware wallets have gained popularity as they are providing the most secure solution for transaction and payments. Through the TraNexus Wallet, hardware wallets will become contactless and users will be able to establish multiple private keys into the secure store using the same TraNexus wallet App and access these private keys while making transactions in contactless mode.
“The TraNexus Wallet App will be compatible with most of the existing blockchain technologies and will work as part of an overall system using WISeKey Blockchain-as-a-Service (“BaaS”) technology offerings. WISeKey’s technology offers the security and scalability TraNexus anticipates it will need as the use of TraNexus grows,” said Professor Geoffrey Lipman the Director of the TraNexus program and long-time travel industry leader.
“By combining WISeKey’s Secure Element (our tamper-resistant silicon chip) and its managed Public Key Infrastructure (PKI) systems with the TraNexus Blockchain we are bringing a powerful solution that increases the level of safety for users of the TraNexus ecosystem, while ensuring maximum interoperability and trust on the system,” said Carlos Moreira, Founder and CEO of WISeKey.
Blockchain technology can help overcome many existing problems and inefficiencies which have been widely identified: planning, purchasing, security, transportation, accommodations, visitor’s experience, shopping, and again for the return journey. This extends from the products into the linked services, supply chains and infrastructure. We intend to capture blockchain benefits for travelers — to make travel easier, better value, greener and more fun.
Global Travel & Tourism is the world’s largest industry and the total number of travelers doubles every 15 -20 years. There are currently over 1 billion international trips per year and over 4 billion domestic. By 2030, Travel & Tourism is expected to support 1 in 9 of all jobs and to account for 11.4% of global GDP. It will outperform the global economy.