Bounty Contest Results Re-enforced IronCAP's Resilience

Rhea-AI Summary

01 Communique Laboratory Inc. (OTCQB:OONEF) announced that its IronCAP™ encryption successfully withstood a global Bounty Contest challenge sponsored by PwC China. Over 800 cybersecurity experts attempted to break the encryption, with no success. This result reinforces IronCAP™ as a leading quantum-safe solution. CEO Andrew Cheung emphasized its robustness and thanked participants for verifying the technology. With rising awareness of quantum threats, the company anticipates increased demand for IronCAP™ as organizations prepare for future cyber challenges.

Positive

• IronCAP™ encryption successfully survived a global challenge with 807 participants.
• No attempts were successful in breaking IronCAP™, demonstrating its robustness.
• Increased awareness of quantum threats may boost demand for IronCAP™.

Negative

• None.

TORONTO, ON / ACCESSWIRE / March 25, 2021 / 01 Communique Laboratory Inc. (TSXV:ONE)(OTCQB:OONEF) (the "Company") is pleased to announce that its quantum-safe encryption, IronCAP™, successfully survived a global Bounty Contest challenge. The Bounty Contest was exclusively sponsored by PwC China. 807 cybersecurity and quantum experts attempted to crack IronCAP™'s quantum-safe encryption during the one-month CAD$100,000 Bounty Contest. No contestants managed to break the code and IronCAP™'s encryption has yet again proven its resilience and robustness.

"We believe IronCAP™'s quantum-safe encryption solution is the best-in-class cryptography solution and it is the only quantum-safe encryption product we are aware of to survive a challenge of this scale and intensity," says Andrew Cheung, 01 Communique's CEO. "We would like to thank all the expert contestants who have participated and helped to verify our technology. My special thanks to PwC, China whose contribution and support was key to the success of this event."

Samuel Sinn, Partner, Cybersecurity & Privacy Services, PwC China stated: "We are pleased to see that no one was able to break the IronCAP™ product amid the huge number of participants in our bounty contest this time. It objectively demonstrated that IronCAP™ is a robust product to protect the systems from cyber-attacks. We are also confident that IronCAP™ will also be able to combat the cyber threats when the Q-Day arrives."

Businesses and Governments are now very much aware of and preparing for the upcoming quantum threat that has the potential to eviscerate present classical encryption. We look forward to working with leaders who have the foresight to champion early adoption of IronCAP™. Their effort will no doubt be rewarded by best-in-class protection against the detrimental quantum attack.

For information on how IronCAP™ can help your company or clients become quantum-safe, please visit our website: www.ironcap.ca or contact the Company at sales@ironcap.ca.

About IronCAP™ and IronCAP X™:

IronCAP™ is at the forefront of the cyber security market and is designed to protect our customers from cyber-attacks. IronCAP™'s patent-pending cryptographic system is designed to protect users and enterprises against the ever-evolving illegitimate and malicious means of gaining access to their data today as well as in the future with the introduction of powerful quantum computers. Based on improved Goppa code-based encryption it is designed to be faster and more secure than current standards. It operates on conventional computer systems, so users are protected today while being secure enough to safeguard against future attacks from the world of quantum computers. An IronCAP™ API is available which allows vendors of a wide variety of vertical applications to easily transform their products to ensure their customers are safe from cyber-attacks today and from quantum computers in the future.

IronCAP X™, a cybersecurity product for email/file encryption, incorporating our patent-pending technology for commercial. The new product has two major differentiations from what is in the market today. Firstly, many offerings in today's market store users secured emails on email-servers for recipients to read, making email-servers a central target of cyber-attack. IronCAP X™, on the other hand, delivers each encrypted message end-to-end to the recipients such that only the intended recipients can decrypt and read the message. Consumers' individual messages are protected, eliminating the hackers' incentive to attack email servers of email providers. Secondly, powered by our patent-pending IronCAP™ technology, we believe IronCAP X™ is the world's first quantum-safe end-to-end email encryption system; secured against cyberattacks from today's systems and from quantum computers in the future. Consumers and businesses using IronCAP X™ will be protected by tomorrow's cybersecurity today.

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. The Company's remote access business unit provides its customers with a suite of secure remote access services and products under its I'm InTouch and I'm OnCall product offerings. The remote access offerings are protected in the U.S.A. by its patents #6,928,479 / #6,938,076 / #8,234,701; in Canada by its patents #2,309,398 / #2,524,039 and in Japan by its patent #4,875,094. For more information, visit the Company's web site at www.ironcap.ca and www.01com.com.

PwC - Mainland China, Hong Kong SAR and Macau SAR

PwC Mainland China, Hong Kong SAR and Macau SAR work together on a collaborative basis, subject to local applicable laws. Collectively, we have over 800 partners and more than 20,000 people in total.

We provide organisations with the professional service they need, wherever they may be located. Our highly qualified, experienced professionals listen to different points of view to help organisations solve their business issues and identify and maximise the opportunities they seek. Our industry specialisation allows us to help co-create solutions with our clients for their sector of interest.

We are located in these cities: Beijing, Shanghai, Hong Kong, Shenyang, Tianjin, Dalian, Jinan, Qingdao, Zhengzhou, Xi'an, Nanjing, Hefei, Suzhou, Wuhan, Chengdu, Hangzhou, Ningbo, Chongqing, Changsha, Kunming, Xiamen, Guangzhou, Shenzhen, Macau, Haikou, Zhuhai and Guiyang.

PwC - Globally

At PwC, our purpose is to build trust in society and solve important problems. We are a network of firms in 155 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.

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", "anticipate", "plan", "intend", "are confident" and other similar terminology. Such statements include statements regarding the business prospects of IronCAP™ and IronCAP X™, 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 matters discussed in the forward-looking statements, including, but not limited to, a delay in the anticipated adoption of quantum computers and a corresponding delay in Q day, the ability for the Company to generate sales, and gain adoption of, IronCAP™ and IronCAP X™, the ability of the Company to raise financing to pursue its business plan, competing products that provide a superior product, competitors with greater resources and 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
Chief Financial Officer
01 Communique
(905) 795-2888 x204
Brian.stringer@01com.com

SOURCE: 01 Communique Laboratory, Inc.

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https://www.accesswire.com/637424/Bounty-Contest-Results-Re-enforced-IronCAPs-Resilience

FAQ

What is the significance of the IronCAP™ Bounty Contest results for OONEF?

The results confirm the robustness of IronCAP™, reinforcing its position as a leading quantum-safe encryption solution.

How many experts participated in the IronCAP™ Bounty Contest?

There were 807 cybersecurity and quantum experts who participated in the contest.

Who sponsored the Bounty Contest for IronCAP™?

The Bounty Contest was exclusively sponsored by PwC China.

What potential impact do the results of the Bounty Contest have on OONEF's business?

The Bounty Contest results may increase demand for IronCAP™ as businesses and governments prepare for quantum cybersecurity threats.