BTQ and ID Quantique Sign MOU: Collaboration for Developing Next-Generation Authentication Systems
- Collaboration Announcement: On July 19, 2024, BTQ Technologies Corp. and ID Quantique signed a Memorandum of Understanding (MOU) to jointly develop an innovative authentication system that combines Quantum Random Number Generators (QRNG) and Post-Quantum Cryptography (PQC).
- Company Backgrounds: ID Quantique is a pioneer in quantum cryptography and QRNG technology, while BTQ, a Canadian-listed company, developed the robust and efficient PQC signature algorithm Preon, which was recognized by the U.S. National Institute of Standards and Technology (NIST).
- Anticipated Impact: The partnership aims to pioneer a new market for authentication systems based on QRNG and PQC quantum technologies, addressing security challenges from both classical and quantum computers.
VANCOUVER, BC, July 31, 2024 /CNW/ - BTQ Technologies Corp. (the "Company") (CBOE CA: BTQ) (FSE: NG3) (OTCQX: BTQQF), a global quantum technology company focused on securing mission-critical networks, is pleased to announce that on Friday, July 19, 2024, BTQ and ID Quantique (IDQ) signed a Memorandum of Understanding (MOU) for joint research, development, and mutual cooperation to create an innovative authentication system combining Quantum Random Number Generators (QRNG) and Post-Quantum Cryptography (PQC).
IDQ is a leading company in the field of quantum cryptography and was the first in the world to commercialize quantum random number generators. Currently, it supplies industry-leading QRNGs to various sectors, including the Samsung Galaxy Quantum phone. Besides quantum random number generators, IDQ also showcases outstanding technology in QKD (Quantum Key Distribution) and SNSPD (Superconducting Nanowire Single Photon Detectors).
BTQ, a Canadian-listed company, developed the PQC quantum signature algorithm Preon, which was selected in the most recent round of the PQC standardization process by the U.S. National Institute of Standards and Technology (NIST) on July 27, 2023. Preon, based on zk-SNARK, is a robust and efficient post-quantum signature scheme characterized by a small key size, fast key generation, minimal assumptions, and flexible functionality. These features provide strong resistance to potential threats from both classical and quantum computers.
Through this agreement, the two companies expect to pioneer a new authentication system market based on QRNG and PQC quantum technologies.
Regarding this agreement, IDQ Korea General Manager, Sangyun Uhm stated that IDQ has set the standard for next-generation security in the post-quantum era through its QRNG technology. He emphasized that through collaboration with BTQ, IDQ aims to develop even stronger authentication systems and bring innovation to the cybersecurity landscape.
Olivier Roussy Newton, CEO of BTQ, added: "Partnering with ID Quantique represents a significant milestone for BTQ. By combining our expertise in post-quantum cryptography with IDQ's leadership in quantum random number generation, we are poised to create state-of-the-art authentication systems that address the security challenges of both today and tomorrow. This collaboration underscores our commitment to pioneering advancements in cybersecurity and ensuring the robustness of mission-critical networks in the quantum era."
About ID Quantique
Founded in 2001 as a spin-off of the Group of Applied Physics of the University of Geneva, ID Quantique is the world leader in quantum-safe crypto solutions, designed to protect data for the future. The company provides quantum-safe network encryption, secure quantum key generation and Quantum Key Distribution solutions and services to the financial industry, enterprises, and government organizations globally. IDQ's quantum random number generator has been validated according to global standards and independent agencies and is the reference in highly regulated and mission-critical industries such as security, encryption, critical infrastructure and IoT – where trust is paramount.
Additionally, IDQ is a leading provider of optical instrumentation products, most notably photon counters and related electronics. The company's innovative photonic solutions are used in both commercial and research applications.
IDQ's products are used by government, enterprise, and academic customers in more than 60 countries and on every continent. IDQ is proud of its independence and neutrality and believes in establishing long-term, trusted relationships with its customers and partners.
For more information, please visit www.idquantique.com.
About BTQ
BTQ was founded by a group of post-quantum cryptography 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
ON BEHALF OF THE BOARD OF DIRECTORS
Olivier Roussy Newton
CEO, Chairman
For further information: E: [email protected]
Neither Cboe Canada nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
Certain statements herein contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to the business plans of the Company, including with respect to its research partnerships, and anticipated markets in which the Company may be listing its common shares. Forward-looking statements or information often can be identified by the use of words such as "anticipate", "intend", "expect", "plan" or "may" and the variations of these words are intended to identify forward-looking statements and information.
The Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the development of post-quantum algorithms and quantum vulnerabilities, and the quantum computing industry generally. The foregoing list of assumptions is not exhaustive.
Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information are based on assumptions and involve known and unknown risks which may cause actual results to be materially different from any future results, expressed or implied, by such forward-looking statements or information. These factors include risks relating to: the availability of financing for the Company; business and economic conditions in the post-quantum and encryption computing industries generally; the speculative nature of the Company's research and development programs; the supply and demand for labour and technological post-quantum and encryption technology; unanticipated events related to regulatory and licensing matters and environmental matters; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting blockchains); risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required, and causing potential delays to research and development activities; and other risk factors as detailed from time to time. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE BTQ Technologies Corp.
Catherine Simondi, VP Marketing & Communication - [email protected]; Bill Mitoulas, Investor Relations, T: +1.416.479.9547, E: [email protected]
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