01 Communique Signs a Co-Operation Agreement with PwC to Implement Quantum-Safe IronCAP Cryptography Technology
(IT.NewsOnline) Communique Laboratory Inc. (“01 Communique”) (TSX-V:ONE)(OTCQB:OONEF) today announced it has entered into a joint business relationship with PwC, one of the world’s leading professional services firm, to bring post-quantum cryptography technology and its related services to enterprise customers.
The collaboration comes at a time when cyber security is on every organization’s top agenda and those who look beyond today’s challenges are proactively preparing for the looming threat brought by the advent of quantum computers. The “new norm” means that it is mission critical to protect the whole eco-system from cyber-attacks not just for today, but more importantly to prepare for tomorrow’s even more powerful quantum attacks. 01 Communique’s cryptographic technology, IronCAP, operates on classical computer systems to protect platforms today and in the world of quantum computers.
In July 2020, PwC’s latest SMB survey responded by over 1,000 IT decision makers across Asia Pacific only 27% of small and medium-sized businesses (SMB) have a dedicated cybersecurity team whereas 57% of them experienced an online attack in the last 24 months. Viruses and malware (51%), web-based attacks (38%) and phishing attacks (32%) were identified as the top-three cyberattacks on SMBs. PwC along with IronCAP, the best in class quantum-safe encryption combined with an end-to-end solution, offer a brand-new option for executives to better prepare for the future.
William Gee, Partner, Digitalization Office, PwC China stated, “We are in the early days of a totally new technology, quantum computing; one that truly disrupts many of the principles that we know today. PwC is proud to enter this joint business relationship. We are positioning for the coming of a new age of computing, one that brings new possibilities and have far greater transformational and disruptive powers that we have seen with today’s classical computers.”
Samuel Sinn, Cybersecurity and Privacy Partner of PwC China added, “The technology development in computing is striving for speed. We are now experiencing the arrival of quantum computers – the 5th generation of computer (from vacuum tubes, transistors, integrated circuits, microprocessors to quantum computers), which has the fastest computing speed that we’ve ever seen. This will disrupt the classical encryption. In the past, it would take over a century to break an encryption, a time-consuming process even for modern classical computers. However, new types of computers are currently being developed that leverage the computational power of quantum physics. Quantum computers can reduce the time for password generation and data decryption to several hours or even minutes. This will render the classical encryption, which we are still using today, to be obsolete.”