WISeKey’s WISe.Art and the China Finance Museum announced at Art Basel their cooperation to auction a historic Jiaozi NFT of the world’s first government-issued paper currency created in 1024
Geneva, Hong Kong: June 17, 2022 – WISeKey International Holding (“WISeKey”, SIX: WIHN, NASDAQ: WKEY), a Swiss global cybersecurity, AI, Blockchain and IoT company, has partnered with China Museum of Finance to offer trusted NFTs with the launch of WISE.ART NFT platform. The WISe.ART NFT platform is an Ethereum infrastructure scaling and development and is available with Ethereum compatible blockchains. To launch this cooperation, the WISe.ART platform will auction a historic NFT of the world’s first paper money created in China in 1024.
The Jiaozi NFT is the digital twin of the world’s first government-issued paper money, featuring elements of modern paper money for circulation management and reserve payment. The paper money was issued on January 12, 1024 in Chengdu, Sichuan, China by Jiaozi Business, the first central bank. The bank has operated for over 400 years. It would be nearly 200 years later when Marco Polo introduced the concept of paper money to Europe, and another 250 years before Sweden issued modern paper money in 1661.
China’s creation of paper money relied on two of its other well-known inventions: papermaking and printing. Today, paper money is an essential instrument of global and national financial systems. Cryptocurrencies and NFT are also innovative developments in the history of 1,000 banknotes.
The China Finance Museum has promoted the spread of cross-border communication in China and the global financial industry, setting up Jiaozi exhibition halls and Jiaozi monuments in Chengdu, holding Jiaozi forums and promoting applications for the intangible cultural heritage.
About Jiaozi NFT design
Designing and publishing China’s first NFT belonging to global financial heritage will bring great attention and investment wealth effect; the China Finance Museum will simplify the design by making it more beautiful and elegant, determine the NFT copyright, with a fully entrusted professional NFT team to carry out the online and auction transactions; create the China Financial Heritage Fund, which will use all NFT exchanges for the discovery, certification and protection of Chinese financial heritage; a total of 10,000 NFTs have been issued worldwide, including 8,000 for financial collectors and individuals. 1,000 of these NFTs are managed by China Financial Heritage Foundation for future development, and 1,000 are jointly managed by China Museum of Finance and NFT distributors, such as gifts to international financial institutions, museums and key leaders Of the industry.
About China Museum of Finance ChinaMuseum of Finance was registered in 2009 in Hong Kong, a consulting and management company to promote financial literacy and education in Asia. In collaboration with several local governments and financial institutions, he has participated in the establishment and management of more than 11 finance museums in mainland China and Hong Kong, including the Tianjin Museum of Finance (2010), located on the site of the former French Club, a century-old European Building museum, in Tianjin. Exhibitions in the 2,400 m². the main hall included handwritten manuscripts of the recognized father and founding father of contemporary economics Adam Smith, Thomas Edison’s first lightbulb, documents relating to the establishment of the Shanghai Stock Exchange, including directives from former Premier Zhu Rongji, bonus stocks from the “Cultural Revolution” period, more than 200 currencies from various historical eras in China and abroad, financial bills and financial artifacts. Many distinguished guests were present at the opening ceremony of the museum, as well as well-known Chinese financial personalities. The success of this venture inspired Mr. Wang Wei to continue on this path. He has since built nine other financial museums over the past decade in Beijing, Shanghai, Chongqing, Suzhou, Ningbo, Shengyang, Chengdu, Zhengzhou and Jinggangshan.
The earliest known examples of paper money as we would understand it today were created in China during the Song dynasty (960-1279 AD). Promissory notes known as “Jiaozi” were printed by a group of Sichuan merchants during the reign of Emperor Zhenzong (997-1022 AD).
“Paper money was the earliest form of Chinese printing encountered by European travellers, was independently discussed by at least eight pre-Renaissance European writers, and as far as is known is the only form of Chinese printing described in European writings from the pre-Renaissance days of Gutenberg. Marco Polo’s description is the most detailed” (Carter, op. cit., 109).
WISeKey’s strategy in China is to integrate the combined technology stack to make WISe.ART available as a platform to build white label marketplaces for different luxury collectibles and artworks. Part of this technology stack is the storage of created digital twins as NFTs on the blockchain to enable trading of those NFTs. To guarantee KYC which still allows the necessary anonymity and exclusivity, all marketplaces created under the WISe.ART platform will allow NFT trading.
Mr. Wang Wei has been a member of the Shanghai Stock Exchange’s Corporate Governance Advisory Committee since 2007. He founded the Chinese Finance Museum in 2009, an organization that currently operates 11 museums across China. He was the founding chairman of the China Mergers & Acquisitions Association, which has more than 200 directors of financial institutions and 6,000 cross-border traders. He was also founding chairman of the Asia Mergers & Acquisitions Association (AMAA) and co-chairman of the International Federation of Finance Museums (IFFM) in November 2015. In January 2017, he became a director of the board of the Global Blockchain Business Council (GBBC), founded by 25 countries.
Carlos Moreira, Chairman and CEO of WISeKey, said, “We are delighted to partner with the Beijing Finance Museum and Wang Wei. We look forward to working closely with him and benefiting from his expertise as we expand our operations in China and within the NFT Metaverse community. WISeKey’s offering will allow brands, artists, fans, curators, owners, potential customers and liquidity providers investing in digital assets, to interact and grow on a secure, digital and scalable platform, to trace in depth of provenance, reduce counterfeiting in the digital sphere and integrate chip technology into real objects. Therefore, WISeKey provides highly secure integration of physical objects and their invented digital twins into NFTs. WISeKey follows a multi-chain strategy for its WISe.ART platform through a partnership with leading Chinese blockchain companies.
Wang Wei added, “I am delighted to be working with a group of highly respected experts in NFT. As WISeKey is currently expanding its footprint in China, I look forward to helping the team by contributing my knowledge and expertise in Asian markets.
About WISe.ART: WISe.ART is a marketplace in its own right. It can connect all actors in the artistic industry. Our white label options and special NFT designs ensure that in addition to an authenticated and signed version of the actual digital asset, creating an irreversible link to the physical object, providing proof of ownership , provenance, and a set of smart contracts describing future usage and monetization streams. The WISe.ART NFT platform is fully secured by WISeKey’s innovative security technologies allowing the authentication of digital assets, in an end-to-end secure process based on our experience and proven expertise in this field.
About WISeKey: WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large-scale digital identity ecosystems for people and things using Blockchain, AI and IoT respecting the human as the pivot of the Internet. WISeKey microprocessors secure the pervasive computing that shapes today’s Internet of Everything. WISeKey IoT has an installed base of over 1.6 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, phones laptops, cryptographic tokens, etc.). WISeKey is uniquely positioned to be at the forefront of IoT, as our semiconductors produce an enormous amount of big data which, when analyzed with artificial intelligence (AI), can help industrial applications predict failure of their equipment before it occurs.
Our technology is endorsed by the Swiss-based cryptographic root of trust (“RoT”) of OISTE/WISeKey which provides secure authentication and identification, in 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 online transactions between objects and between objects and people. For more information, visit www.wisekey.com.
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