Hi,
as you will discover in my curriculum I have worked on securing sites and transactions on internet since 1995, with VISA, MasterCard, and other local clearing centers. I have defined security protocols for banks in the past, too. Also, I work with embedded systems since 1992, and with IoT devices since a couple of years. I am expert in ESP32 and ESP8266 (ESP-IDF).
All this experience will be of help on defining with you this new security algorithm.