BTQ and Hon Hai Research Institute Team Up To Help Pioneer Post-Quantum Cryptography Standards
- BTQ Technologies Corp. announces that its wholly owned subsidiary, BTQ AG, has entered into a Research and Collaboration Agreement with Hon Hai Research Institute.
- The project aims to support the academic community by promoting the standardization of PQC and deepening the existing collaboration between the two firms.
- In response to the call for PQC standard solicitation by the U.S. National Institute of Standards and Technology (NIST), BTQ and Hon Hai Research Institute's collaborative report was co-published in July 2023, demonstrating their combined expertise and commitment to advancing post-quantum cryptography standards.
VANCOUVER, BC, Nov. 29, 2023 /CNW/ - BTQ Technologies Corp. (NEO: BTQ) (OTCQX: BTQQF) (FRA: NG3), a publicly-listed and leading quantum technology company focused on securing mission-critical networks, is pleased to announce that, together with its wholly-owned unit BTQ AG, it has entered into a Research and Collaboration Agreement (the "Agreement" or "Research Program") with Hon Hai Research Institute, a key think tank for Hon Hai Technology Group (Foxconn), the world's largest electronics manufacturer and a leading technological solution provider. The goal of the collaboration is to promote the standardization of post-quantum cryptography.
The collaboration between BTQ and Hon Hai Research Institute began two years ago and the efforts in PQC led to the submission of a milestone report under the Research Program to the US National Institute of Standards and Technology (NIST) on June 1, 2023. It addressed the "Call for Additional Digital Signature Schemes for the Post-Quantum Cryptography Standardization Process" and the co-authored report was formally published in July this year.
NIST launched the PQC standardization project in 2016, hoping to establish a complete encryption and decryption system and digital signature system, which will become a new generation of standardized cryptography systems. The significance of the recent publication is that its findings could have the opportunity to be adopted by the government and industry in the future and become one of the reference standards for future development. NIST is expected to announce the final version in 2024.
The contribution of Hon Hai Research Institute represents the forward-thinking direction in the field of post-quantum cryptography, which is in line with the trend of international academic research. The work to date is a great affirmation for BTQ and HHRI in jointly promoting research in this field. It sets a stronger foundation for the Research Program and the deepening partnership.
"We are pleased to have entered into this Agreement with Foxconn, a truly world-class and global organization at the forefront of cutting-edge technological innovation," said BTQ CEO Olivier Roussy Newton. "This contract strengthens our relationship with a long-term strategic partner and is a great testament to the quality of the scientific team BTQ has assembled to date. Additionally, Foxconn has demonstrated interest in the Canadian deep technology talent pool which opens the door to opportunities for various collaborations long-term. We look forward to building upon this relationship and bringing meaningful developments to the quantum industry."
"This partnership not only strengthens our relationship with BTQ, a dynamic and forward-thinking company, but also underscores the caliber of our scientific team and their dedication to advancing the field of post-quantum cryptography," said Hon Hai Research Institute CEO Wei-bin Lee. "Our recent participation in the NIST PQC submission demonstrates the significant contributions we have already made to the advancement of PQC. We look forward to a fruitful collaboration that will drive progress in the field."
NIST PQC Standardization
In response to the significant progress and development in quantum computing, The National Institute of Standards and Technology (NIST) launched a public process to identify quantum-resistant public-key cryptographic algorithms for standardization. The process began with a public call for submissions to the post quantum cryptography (PQC) Standardization Process in December 2016. After three rounds of evaluation and analysis over several years, NIST announced the first set of algorithms to be standardized in 2022. This marked an important step towards ensuring the security of digital infrastructure against the growing threat posed by quantum computing. Now, NIST is continuing the PQC standardization process with a fourth round, in which NIST is calling for additional digital signature proposals to be considered in the PQC standardization process.
About BTQ
BTQ was founded by a group of post-quantum cryptographers with an interest in addressing the urgent security threat posed by large-scale universal quantum computers. With the support of leading research institutes and universities, BTQ is combining software and hardware to safeguard critical networks using unique post-quantum services and solutions.
Connect with BTQ: Website | LinkedIn
About Foxconn
Established in 1974 in Taiwan, Hon Hai Technology Group ("Foxconn") (TWSE:2317) is the world's largest electronics manufacturer and leading technological solutions provider, ranking in the top 30 among the Fortune Global 500. In 2022, revenue totaled TWD6.62 trillion (approx. USD220 billion or EUR200 billion). The Group's market share in electronics manufacturing services (EMS) exceeds 40% and covers four major product segments: smart consumer electronics; cloud and networking; computing; and components and others. The Group operates 173 campuses across 24 countries and is one of the world's largest employers with over a million employees during peak manufacturing season. The Group has expanded its capabilities into the development of electric vehicles, digital health, and robotics, and three key technologies – next-generation communications technology, AI, and semiconductors – which are key to driving its long-term growth strategy. It is dedicated to championing environmental sustainability in the manufacturing process and serving as a best-practices model for global enterprises.
To learn more, visit www.honhai.com
About Hon Hai Research Institute
The establishment of the Hon Hai Research Institute is an important step in the Group's development strategy as it moves one step closer to its "Foxconn 3.0" transformation. The Institute has five research centers and one laboratory. Each center has an average of 40 high technology R&D professionals, all of whom are focused on the research and development of new technologies; the strengthening of Foxconn's technology and product innovation pipeline; efforts to support the Group's transformation from "brawn" to "brains"; and the enhancement of the competitiveness of Foxconn's "3+3" strategy.
ON BEHALF OF THE BOARD OF DIRECTORS
Olivier Roussy Newton
CEO, Chairman
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