Arqit Awarded Top Honors in Two Categories at the Global Mobile Awards at 2024 Mobile World Congress

Rhea-AI Summary

Arqit Quantum Inc. (ARQQ) receives two prestigious Glomo awards at Mobile World Congress for its quantum-safe encryption solutions. The company wins in the CTO Choice: Outstanding Mobile Technology Award and Best Mobile Security Solution categories. Arqit's unique software addresses quantum threats and complies with NSA standards, gaining recognition in the telecom industry.

LONDON, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (Arqit), a leader in quantum-safe encryption was honoured to receive two Glomo awards at Mobile World Congress on February 28, 2024. The company took home the top honour in the CTO Choice: Outstanding Mobile Technology Award category, which was voted on by CTO’s across the industry, including those from the world’s major mobile phone companies, along with the award for Best Mobile Security Solution.

David Williams Arqit Founder said, “Solving one of the biggest technology problems of the era and changing the way that significant parts of the World does encryption is a very large challenge. Arqit software is unique in doing this through symmetric key agreement and rotating authentication at end points in a manner which is not only quantum safe but also compliant with NSA standards. We are delighted that the telecoms industry is moving at pace to address this problem and that Arqit’s unique solution is recognised.”

Please download Arqit’s white paper here:https://arqit.uk/arqit_mwc2024

Notes to Editors

The UK Government acknowledges the quantum threat:

• UK National Cyber Security Centre (NCSC): “A quantum computer will allow the attacker to read information that has been encrypted in the past, and forge information in the future” (NCSC, Preparing for Quantum-Safe Cryptography whitepaper, 11 November 2020, link).
  

“Store-now, decrypt-later” is a known threat and concerning for data with a long-time value: 

• UK National Cyber Security Centre (NCSC): “The threat to key agreement is that an adversary collecting encrypted data today would be able to decrypt it in future, should they have access to a CRQC [Cryptographically Relevant Quantum Computer]” (NCSC, Preparing for Quantum-Safe Cryptography whitepaper, 11 November 2020, link). 
  
• US Congress: “The rapid progress of quantum computing suggests the potential for adversaries of the United States to steal sensitive encrypted data today using classical computers and wait until sufficiently powerful quantum systems are available to decrypt it” (Congress, Quantum Computing Cybersecurity Preparedness Act, 21 December 2022, link). 
  

Symmetric cryptography is a solution that can be implemented right now and can be used for both encryption and key exchange: 

• UK National Cyber Security Centre (NCSC): “In contrast with PKC [public-key cryptography], the security of symmetric cryptography is not significantly impacted by quantum computers, and existing symmetric algorithms with at least 128-bit keys (such as AES) can continue to be used” (NCSC, Next steps in preparing for post-quantum cryptography, 3 November 2023, link). 
• US National Security Agency (NSA): “NSA considers using pre-shared symmetric keys in a standards-compliant fashion a better near-term post-quantum solution than implementing experimental post-quantum asymmetric algorithms” (NSA, The Commercial National Security Algorithm Suite 2.0 and Quantum Computing, 7 September 2022, link).
  

The US Government has already directed their agencies to implement symmetric-key protections for National Security Systems (NSS): 

• The White House: “By December 31, 2023, agencies maintaining NSS shall implement symmetric-key protections (e.g., High Assurance Internet Protocol Encryptor (HAIPE) exclusion keys or VPN symmetric key solutions) to provide additional protection for quantum-vulnerable key exchanges” (The White House, National Security Memorandum on Promoting United States Leadership in Quantum Computing While Mitigating Risks to Vulnerable Cryptographic Systems, 4 May 2022, link).
  

About Arqit

Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (Arqit) supplies a unique encryption Platform as a Service which makes the communications links of any networked device, cloud machine or data at rest secure against both current and future forms of attack on encryption – even from a quantum computer. Compliant with NSA standards, Arqit’s Symmetric Key Agreement Platform delivers a lightweight software agent that allows devices to create encryption keys locally in partnership with any number of other devices. The keys are computationally secure and operate over zero trust networks. It can create limitless volumes of keys with any group size and refresh rate and can regulate the secure entrance and exit of a device in a group. The agent is lightweight and will thus run on the smallest of end point devices. The Product sits within a growing portfolio of granted patents. It also works in a standards compliant manner which does not oblige customers to make a disruptive rip and replace of their technology. Recognised for groundbreaking innovation at the Institution of Engineering and Technology awards in 2023, Arqit has also won the Innovation in Cyber Award at the National Cyber Awards and Cyber Security Software Company of the Year Award at the Cyber Security Awards. Arqit is ISO 27001 Standard certified. www.arqit.uk

Media relations enquiries:
Arqit: pr@arqit.uk
Gateway: arqit@gateway-grp.com  

Investor relations enquiries:
Arqit: investorrelations@arqit.uk   
Gateway: arqit@gateway-grp.com

Caution About Forward-Looking Statements

This communication includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. These forward-looking statements are based on Arqit’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Arqit’s control. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Arqit to predict these events or how they may affect it. Except as required by law, Arqit does not have any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date this communication is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur. Uncertainties and risk factors that could affect Arqit’s future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: (i) the outcome of any legal proceedings that may be instituted against the Arqit, (ii) the ability to maintain the listing of Arqit’s securities on a national securities exchange, (iii) changes in the competitive and regulated industries in which Arqit operates, variations in operating performance across competitors and changes in laws and regulations affecting Arqit’s business, (iv) the ability to implement business plans, forecasts, and other expectations, and identify and realise additional opportunities, (v) the potential inability of Arqit to successfully deliver its operational technology, (vi) the risk of interruption or failure of Arqit’s information technology and communications system, (vii) the enforceability of Arqit’s intellectual property, and (viii) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Arqit’s annual report on Form 20-F (the “Form 20-F”), filed with the U.S. Securities and Exchange Commission (the “SEC”) on 21 November 2023 and in subsequent filings with the SEC. While the list of factors discussed above and in the Form 20-F and other SEC filings are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realisation of forward-looking statements.

FAQ

What awards did Arqit Quantum Inc. (ARQQ) receive at Mobile World Congress?

Arqit Quantum Inc. (ARQQ) received the CTO Choice: Outstanding Mobile Technology Award and Best Mobile Security Solution award at Mobile World Congress.

Who voted for the CTO Choice award received by Arqit Quantum Inc. (ARQQ)?

The CTO Choice award received by Arqit Quantum Inc. (ARQQ) was voted on by CTOs across the industry, including major mobile phone companies.

How does Arqit Quantum Inc. (ARQQ) address quantum threats?

Arqit Quantum Inc. (ARQQ) addresses quantum threats through symmetric key agreement and rotating authentication at end points, ensuring quantum-safe encryption.

What standards does Arqit Quantum Inc. (ARQQ) comply with for its encryption solutions?

Arqit Quantum Inc. (ARQQ) complies with NSA standards for its encryption solutions, ensuring security and compliance in the industry.

What is the significance of symmetric cryptography in addressing quantum threats?

Symmetric cryptography is a solution that can be implemented immediately to address quantum threats, providing security for encryption and key exchange.