Introducing Best-in-Class Quantum-Safe Blockchain

Rhea-AI Summary

01 Communique Laboratory Inc. (OONEF) has been selected to develop the World's First Quantum-Safe Blockchain, aimed at Tokens, NFTs, and DeFi. This initiative responds to rising cyber threats, particularly from quantum computing. The company will receive $250,000 plus a 10% royalty per transaction as compensation. The new blockchain, integrated with the existing Solana technology, promises high performance with tens of thousands of transactions per second. A Proof-of-Concept is planned within three months, setting the stage for advancements in post-quantum cybersecurity.

Positive

• Selected to develop the world's first quantum-safe blockchain, indicating strong industry recognition.
• Compensation includes $250,000 and a 10% royalty per transaction, providing potential for ongoing revenue.
• High-performance capability of processing tens of thousands of transactions per second.

Negative

• Actual results and performance are uncertain, depending on future adoption of quantum-safe technologies.
• Potential delays in the development timeline for the Proof-of-Concept.
• Competition from superior products and companies with greater resources.

TORONTO, ON / ACCESSWIRE / April 5, 2022 / 01 Communique Laboratory Inc. (TSXV:ONE)(OTCQB:OONEF) (the "Company" or "01"), has been commissioned to develop the World's First Quantum-Safe Blockchain designed for Tokens, NFTs, Smart Contracts for the Metaverse, De-centralized Finance (DeFi). It is expected that this best-in-class quantum-safe blockchain will be resilient against cyber adversaries, including quantum attacks.

Blockchain technology is vulnerable to cyber-attacks, including quantum threats. A recent crypto hack reported a loss of over $300 million due to hackers forging a wrong signature to fake a transaction. These hacks have now become commonplace, and it is anticipated that the introduction of quantum computing will increase them dramatically.

After an extensive global search, a consortium of highly successful crypto experts has selected the Company as their technology partner and Post-Quantum Cryptography (PQC) provider. The consortium (Talent Summit) is pursuing the new blockchain aggressively and is planning a Proof-of-Concept (PoC) within three months. The PoC of this new venture is the first step towards protecting the de-centralized eco-system.

"01 has taken a minority position in Talent Summit and in addition will be compensated for the development project by way of a payment of $250,000 cash plus a 10% royalty for the ongoing share of the 'Tokens' per transaction," said Andrew Cheung, the President and CEO of 01 Communique.

01 will protect the integrity of this state-of-the-art blockchain by using its patent-protected, quantum-safe, IronCAP™ technology. In addition to being quantum-safe and supporting smart contracts, this new blockchain is aiming at high-performance with the ability to process tens of thousands of transactions/second (TPS).

"This revolutionary blockchain is essentially a transformation of the proven Solana blockchain into a quantum-safe version to be incorporated in Tokens, NFTs, Smart Contracts for Metaverse, DeFi, and more," said Andrew Cheung.

About 01 Communique

One of the first-to-market, enterprise level cybersecurity providers for the quantum computing era. The Company's cyber security business unit focuses on post-quantum cybersecurity with the development of its IronCAP™ technology, protected in the U.S.A. by its patent #11,271,215. For more information, visit the Company's web site at www.ironcap.ca and www.01com.com.

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 ability of the Company to develop the contemplated quantum-safe blockchain, the capabilities of such blockchain and the timing for its development and implementation, 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, the ability of the Company to complete the PoC as anticipated, a delay in the anticipated adoption of quantum computers, 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

SOURCE: 01 Communique Laboratory, Inc.

View source version on accesswire.com:
https://www.accesswire.com/696015/Introducing-Best-in-Class-Quantum-Safe-Blockchain

FAQ

What is the significance of 01 Communique's quantum-safe blockchain project?

The project aims to protect digital assets like Tokens and NFTs from emerging cyber threats, particularly those posed by quantum computing.

What financial benefits will 01 Communique receive from the blockchain development?

The company will receive $250,000 in cash plus a 10% royalty on transactions for the blockchain developed.

When is the Proof-of-Concept (PoC) for the quantum-safe blockchain expected?

The PoC is anticipated to be completed within three months.

How does the new blockchain compare to existing technologies?

It is designed to transform the established Solana blockchain into a quantum-safe version, enhancing its security features.

What challenges might affect the deployment of the quantum-safe blockchain?

Challenges include delays in development, competition from other products, and the uncertain future adoption of quantum technologies.