BTQ Patents Innovative Method and System for Generating Private Cryptographic Keys
/NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
- BTQ is pleased to have received approval from the USPTO for its patent application, "A system and method for quantum-safe authentication, encryption, and decryption of information"
- The patent relates to methods for generating a private cryptographic key for use in a secure cryptogram for transmission between entities, enabling quantum-safe encryption
- BTQ seeks to continue to build its competitive moat on the global stage through a leading IP portfolio, R&D team, and strategic partnerships
VANCOUVER, BC, June 26, 2023 /CNW/ - BTQ Technologies Inc. (the "Company" or "BTQ") (NEO: BTQ), a global quantum technology company focused on securing mission critical networks, is pleased to announce it has received approval by the US Patent and Trademark Office (USPTO) for its patent application related to quantum-safe encryption technology.
This patented technology enables the secure transmission of confidential information between entities using private cryptographic keys generated from a random vector shared between the entities. The invention can be implemented using various mathematical functions and projection functions, making it a versatile and robust solution for enhancing security in data transmission.
BTQ's invention also involves compressing confidential information with a lossless compression algorithm and combining the compressed information with random data. The cryptogram is then generated by encrypting the compressed confidential information combined with the random data. The cryptogram comprises information enabling the confidential information to be distinguished from the random data.
This novel technology is an important breakthrough in data security and will have implications for a range of industries that rely on secure data transmission, including distributed ledgers, finance, healthcare, and government agencies.
"We are thrilled to have been granted this patent for our innovative method and system for generating private cryptographic keys," said Olivier Roussy Newton, CEO of BTQ. "This proprietary technology provides a robust and secure solution for transmitting sensitive data between entities, and we believe it has the potential to revolutionize data security across a range of industries. We look forward to exploring partnerships with strategically aligned businesses to integrate this technology into their operations."
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.
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The United States Patent and Trademark Office (USPTO or Office) is an agency of the U.S. Department of Commerce. The role of the USPTO is to grant patents for the protection of inventions and to register trademarks.
ON BEHALF OF THE BOARD OF DIRECTORS
Olivier Roussy Newton
CEO, Chairman
Neither the NEO nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
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.
E: [email protected]; Bill Mitoulas, Investor Relations, T: +1.416.479.9547, E: [email protected]
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