Why Cybersecurity And The Quantum Threat Should Be A Priority In Your Company’s Agenda – Benzinga

01 Communique is one of the sponsors for the upcoming Benzinga Global Small Cap Conference set to take place on December 8-9, 2020.

We are in the early days of a new breed of computers with unprecedented power: quantum computers. Their unique capabilities will create opportunities for innovation in every industry. Yet, with this comes The Quantum Threat.

Current cybersecurity technologies can only protect against conventional computers and forms of hacking. Soon, cyber-attacks will be conducted through quantum computers. 01 Communique Laboratory Inc (OTCQB: OONEF) (TSXV:ONE) has been monitoring quantum computers' evolution since its infancy stage.

So, in staying ahead of this new threat, here is what you need to know and how you can be prepared.

Quantum computers are ultra-high-speed computers with a million times the processing speed than a conventional supercomputer. Conventional computers use long strings of "bits," which encode either a zero or a one. A quantum computer uses quantum bits or qubits. It is basically harnessing and exploiting the laws of quantum mechanics to process information.

The technology is in its early stages; however, the threat is here and is extremely real. Quantum computing will make the security of your data, communications, and even blockchains fatally unprotected. Right now, this threat is on every organization's top list, and those who look beyond today's challenges are proactively planning for the imminent danger brought by their advent.

For Andrew Cheung, CEO of 01 Communique, the road against the future quantum threat began over ten years ago.

"We feel like Wayne Gretzky skating to meet the puck by anticipating Q-Day and work with our partners to embrace it when everyone is desperately looking for a quantum-safe solution," said Cheung.

Quantum computing can shorten the time it would take to resolve an encryption problem estimated in a hundred years to almost seconds.

01 COMMUNIQUE has identified these risks and has created solutions to protect against them. Most of the current encryption used by the government today is based on prime number factorization."Becoming quantum-safe 2-years-too-early or 2-years-too-late is everything," said Cheung.

The key to creating quantum-safe encryption lies in mathematics. 01 Communique's advanced post-quantum cryptography technologies will guard against cyberattacks of conventional computers as well as future attacks from quantum computers, so data can be safe not only now but also in the quantum future. The company's cryptographic technology, IronCAP, operates on conventional computer systems to protect platforms today and in the world of quantum computers.

"Quantum advancements in the cybercommunity have led to the birth of IronCAP. We are providing tomorrow's cybersecurity, today," said Cheung.

The company's cybersecurity business unit focuses on post-quantum cybersecurity with the development of its IronCAP technology. IronCAP's patent-pending cryptographic system is an advanced Goppa code-based post-quantum cryptographic technology that can be implemented on a conventional computer system and can also safeguard against attacks in the quantum future. It is designed to protect users and enterprises from illegitimate and malicious means of gaining access to data faster, more securely than current standard cybersecurity.

With this threat also comes The Quantum Race between the open and the closed world. Quantum-safe protection is being considered now by large organizations foreseeing potential threats. Companies like IBM Common Stock (NYSE: IBM), Alphabet Inc (NASDAQ: GOOGL), Amazon.com, Inc. (NASDAQ: AMZN), and Honeywell International Inc. (NYSE: HON) are upfront with quantum computers available.

01 Communiques current strategic partnerships include CGI Inc (TSE: GIB.A), PwC, Hitachi, and ixFintech. The Company expects to add at least eight more over the next 12 to 18 months.

On April 23, 2020, 01 Communique made commercially available IronCAP X, a new cybersecurity product for end-to-end, quantum-safe email/file encryption. IronCAP X delivers each encrypted message end-to-end to the recipients such that only the intended recipients can decrypt and read the message. Consumers' individual messages are protected, eliminating the hackers' incentive to attack email providers' email servers.

During the company's third-quarter, 01 Communique increased its revenue resulting in close to breakeven financial results, and added capital to allow the company to allot a further $938,000 to continue advancing the growth of their business and the development of products based on IronCAP technology. 01 Communique is well-funded and debt-free, offering both the encryption engine and a vertical solution. Uncrackable security validated through a month-long hackathon.

For more information, visit the 01 Communique website at http://www.ironcap.ca and http://www.01com.com.

2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Why Cybersecurity And The Quantum Threat Should Be A Priority In Your Company's Agenda - Benzinga