01 Communique Signs a Co-operation agreement with PwC to Implement Quantum-Safe IronCAP Cryptography Technology

Rhea-AI Summary

01 Communique Laboratory Inc. (OTCQB: OONEF) has partnered with PwC to offer post-quantum cryptography technology, enhancing cybersecurity for enterprises. This collaboration addresses the urgent need for protection against evolving cyber threats, particularly from quantum computing. IronCAP, their quantum-safe cryptographic solution, is set for immediate deployment. PwC's survey reveals a significant gap in cybersecurity preparedness among small and medium-sized businesses, highlighting the relevance of this partnership. Both firms will announce further details in an upcoming conference.

Positive

• Partnership with PwC enhances credibility and scope of IronCAP technology.
• IronCAP addresses urgent cybersecurity needs against classical and quantum threats.
• Immediate deployment of IronCAP positions the company amid growing cybersecurity concerns.

Negative

• None.

TORONTO, ON / ACCESSWIRE / November 2, 2020 / 01 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.

Our 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 your 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."

Andrew Cheung, CEO of 01 Communique, stated, "We are very excited to partner with PwC to protect the cyberspace with our IronCAP quantum-safe cryptographic technology against cyber-attacks from classical computers and the future world of quantum computing. The time cannot be better to implement our IronCAP platform as there is great world-wide concern about the protection of personal and company data that can be collected, shared, and maliciously hacked." IronCAP is ready to provide a bulletproof shield for your data.

PwC and 01 Communique Laboratory Inc. are pleased to invite our media partners, stakeholders and customers to attend our upcoming joint business relationship announcement event, details to be announced in due course. Both parties will discuss the critical mission of protecting the eco-system from cyber-attacks today and in the future world of quantum computing.

About PwC - Globally

At PwC, our purpose is to build trust in society and solve important problems. We are a network of firms in 157 countries with more than 284,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

About IronCAP and IronCAP X:

IronCAP is a patent-pending cryptographic system that protects users and enterprises against cyber security attacks today as well as in the future with the introduction of powerful quantum computers. Based on improved Goppa code-based encryption, it is faster and more secure than current standards. It is ready for installation now to protect your platform today with the huge benefit of added security against attacks from the world of quantum computers. Our flagship product, IronCAP API, allows vendors to easily apply IronCAP technology to a wide variety of vertical applications making them quantum-safe.

Recently launched, IronCAP X, is the world's first quantum-safe cybersecurity product for email/file encryption. IronCAP X adopts the best in class end-to-end encryption approach by delivering each encrypted message directly to recipients ensuring only the intended persons can decrypt and read the message. This approach by-passes the centralised email server which has become an easy target for cyber-attacks. Furthermore, our digital signature feature ensures the recipient and the sender are verified thus eliminating the chance of a phishing scam. Those adopting IronCAP X will enjoy the best of both worlds: end-to-end email encryption delivery straight into your in-boxes with quantum-safe protection.

About 01 Communique

Established in 1992, 01 Communique (TSX-V:ONE)(OTCQB:OONEF) has always been at the forefront of technology. The Company's cyber security business unit focuses on post-quantum cybersecurity with the development of its IronCAP technology. IronCAP's patent-pending cryptographic system is an advanced Goppa code-based post-quantum cryptographic technology that can be implemented on classical computer systems as we know them today while at the same time can also safeguard against attacks in the future post-quantum world of computing.

Cautionary Note Regarding Forward-looking Statements.

Certain statements in this news release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this news release, such statements use such words as "may", "will", "expect", "believe", "plan", "intend", "are confident" and other similar terminology. Such statements include statements regarding the timing of the release of IronCAP X and the future of quantum computers and their impact on the Company's product offering, the functionality of the Company's products and the intended product lines for the Company's technology. These statements reflect current expectations regarding future events and operating performance and speak only as of the date of this news release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under "Risk and Uncertainties" in the Company's Management`s Discussion and Analysis document filed on SEDAR. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances.

Neither TSX Venture Exchange ("TSX-V") nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

INVESTOR CONTACT:
Brian Stringer
01 Communique
(905) 795-2888 x 204
investorrelations@01com.com

SOURCE: 01 Communique Laboratory, Inc.

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https://www.accesswire.com/613821/01-Communique-Signs-a-Co-operation-agreement-with-PwC-to-Implement-Quantum-Safe-IronCAP-Cryptography-Technology

FAQ

What is the significance of the partnership between 01 Communique and PwC?

The partnership aims to enhance cybersecurity offerings by integrating 01 Communique's IronCAP post-quantum cryptography technology with PwC’s services, addressing growing threats from quantum computing.

How does IronCAP technology work?

IronCAP is a quantum-safe cryptographic system that protects data from current and future cyber threats, utilizing advanced encryption methods to ensure security.

What are the concerns regarding cybersecurity in small and medium-sized businesses?

A PwC survey indicated that 57% of small and medium-sized businesses experienced cyberattacks in the past two years, emphasizing the crucial need for improved cybersecurity measures.

When will more details about the partnership be announced?

Further details about the partnership and its implications for cybersecurity will be shared in an upcoming announcement event, the date of which is yet to be confirmed.

What is the stock symbol for 01 Communique?

The stock symbol for 01 Communique is OONEF, traded on the OTCQB.