WISeKey Holding Ltd (“WISeKey”, NASDAQ: WKEY, SIX: WIHN), a leading cybersecurity and IoT company, today declared the support of the European Union new Data and Cloud Alliance which offers a broader push toward digital sovereignty, intended to reduce dependencies from foreign technology providers. As concrete step towards this support, WISeKey already operates a Swiss-EU based WISeID Cloud Storage service www.wiseid.com.

The new European Union alliance has been in the pipeline since last year’s European data strategy, having as a goal the creation of innovative synergies between European computing tech companies and advising the EU executives on its industrial strategy and investments plans. In particular, the alliance will be consulted on the drafting of the regulatory cloud rulebook, expected in 2022.

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The cloud is one of several strategic technology areas, including semiconductors and AI, where the European Union is keen to build its indigenous capabilities and WISeKey provides concrete solutions with AI capabilities via Arago AG in Germany and WISeKey Semiconductors in France, employing over 120 people focusing on creating these solutions. Currently, the public cloud landscape is dominated by US providers, all of which are growing their share of the European market, and the European Union wants to develop a native cloud ecosystem and reduce reliance on overseas companies. Last year, 25 member states signed a declaration pledging to build the next generation of cloud technology in Europe, and various initiatives are already underway.

Launched in 2019, the WISeKey WISeID platform was built using WISeKey’s digital certificates and other innovative technologies. The evolution of the WISeID Cloud Storage service represents a stronger focus on cloud services and integration with internet applications, enabling customers and partners to adopt the WISeID ecosystem for digital identity to secure access to online services.

Since the beginning of COVID-19 pandemic in early 2020, the imposed need to enable teleworking has forced users to increasingly rely on cloud services, but this trend also implies higher security risks, especially when conventional cloud storage services are used to store and/or share highly confidential information. COVID-19 pandemic has upended how companies work and operate securely remotely. The increased volume of employees working from home using video conferencing and collaboration services is stressing back-end support services and increasing traffic on networks that connect users to these services. Only providers with a trusted robust and abundant architecture that deliver an uninterrupted customer cloud experience, such as WISeKey, will be able to manage the increased load.

The new features of WISeID Cloud Storage service enable users to keep a protected file storage in the cloud, in servers in Switzerland and EU secured by WISeKey’s technologies. WISeID Cloud Storage can be used to store confidential documents in a personal cloud safe area and securely share with other WISeID users, removing risks for eavesdropping and privacy loss.

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