TORONTO, Sept. 4, 2003 (PRIMEZONE) -- Witnet International, Inc. (OTCBB:WTNT) announced that it will co market KSign digital certificate and authentication products globally starting with North America and Japan.
KSign has over 15 Million subscribers using its PKI solutions and leads the industry in Korea. Revenues in 2002 was $4.7 Million from Korea alone.
KSign's web site is www.ksign.com.
Under the agreement and license, Witnet will sell KSign products under the Witnet Logo or KSign Logo. Witnet recently announced that it would cooperate with KSign to develop KSign solutions for wireless mobile devices for "M-Commerce" which is Witnet's core competency.
The global Internet security industry is currently over $1 Billion annually and is expected to grow rapidly for the next several years. By focusing on security solutions for wireless environments, Witnet hopes to achieve additional revenues of $6 Million.
KSIGN's PKI solutions issue digital certificates to authenticate people with digital signature using public key cryptography algorithms that replace paper signed documents into digital forms.
KSIGN's PKI solutions, which were developed under fundamental PKI (Public Key Infrastructure), can be used to provide the following features to e-commerce applications in a wireless environment:
-- Issuance of certificates -- registration of users -- timestamps -- real-time certificate verification -- entrust key -- recover key
About Witnet
Witnet International Inc. is a software development company with offices in Seoul, South Korea and Toronto, Canada. Business partners include HP Japan and South Korea, LG Telecom and other major technology companies.
More information about Witnet and its products can be found at the Company's Website, http://www.witnet21.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any forward-looking statements.