Two new centers of excellence in Buenos Aires and Geneva are to commence work as the cooperation kicks off. WISeKey already operates such centers in India, Mauritius, and Rwanda, with plans for more. The idea is that each center will focus on a specific area, and the relevant know-how built up at each center will then be leveraged by all centers. The blockchain center of excellence in Buenos Aires will, for instance, focus on the development of platforms and applications for combatting counterfeiting, illicit trade, and corruption. The work at Geneva’s blockchain center of excellence, on the other hand, will focus on financial technology, as well as applications for digital private banking for banks.
Although still in its infancy, blockchain technology is seen as a promising solution for a wide variety of areas, including logistics, decentralized energy supply , and the fight against product piracy . The technology is known in particular for the cryptocurrencies based on it, such as Bitkom. However, it still faces a number of obstacles, from a lack of legal framework through the relatively high energy requirement and performance problems.