Quantum Computing Inc Commences Cyber Security Launch as Patent is Awarded Addressing Unconditional Network Security

Rhea-AI Summary

Quantum Computing Inc. (NASDAQ: QUBT) announced a new business initiative focused on quantum cyber security following the award of an international patent. This patent provides exclusive rights to advanced network security solutions, delivering system-wide, zero-trust protections based on quantum physics. The technology seamlessly integrates with existing fiber and satellite communication networks and targets government and large commercial systems. CEO Bob Liscouski emphasized the cybersecurity sector's importance, highlighting vulnerabilities in current systems and the need for authenticated communications. The new quantum security solutions are set to address critical infrastructure protection challenges.

Positive

• Awarded a patent for a revolutionary quantum cyber security technology.
• The technology integrates seamlessly with existing fiber and satellite networks.
• Targets a growing $2 trillion+ cybersecurity market.
• Positioned to address critical infrastructure vulnerabilities.

Negative

• None.

LEESBURG, Va., Feb. 14, 2023 /PRNewswire/ -- Quantum Computing Inc. ("QCI" or the "Company") (NASDAQ: QUBT), a first-to-market full-stack photonic-based quantum computing and solutions company, today announces its business initiative on quantum cyber security based on an international patent that gives QCI exclusive rights to the utilization of a basket of network security solutions. The patented technology gives system-wide, zero-trust protections to many communication scenarios involving data sharing among untrusted parties, whose security is derived only from quantum physics laws. Designed to be compatible with existing fiber-based communication infrastructure and satellite-based networks, QCI's quantum cyber security is available today for Government and large commercial systems.

The patent, exclusively licensed from Steven Institute of Technology, is a broad use patent on a fundamental methodology for secure networking among multiple parties. It builds on quantum entanglement and measurement principles by providing a full-stack solution that uniquely combines authentication and encryption in a single step. QCI's approach addresses existing vulnerabilities with quantum key distribution, which only provides encryption and thus does not address prominent network security problems.

"This breakthrough patent fills a critical security breach by offering a way to effectively protect information to safeguard the entire network at all points of slippage from A to Z. We have the unequivocal ability to ensure that the intended parties are in communication and that the information exchanged has been unaltered and is unconditionally secured against interception," commented Bill McGann, Quantum Computing Inc.'s Chief Operating and Technology Officer. "The patent received swift approval from many international countries, well ahead of normal schedule, validating its importance. We are prepared today to deliver our quantum cyber security solution to Government and large organizations that have fiber optic networks in place. In the next phase, as we launch our quantum chips, we anticipate delivering QCI cyber security solutions for applications across a wide range of domains from fintech to critical infrastructure."

"Cybersecurity, a $2 trillion+ industry, is one of the key focus areas of QCI," stated Bob Liscouski, CEO Quantum Computing Inc. "Our Nation's stability, and those of our friends and allies, depends on zero-interference in our infrastructure such as water systems, the electrical grid, communications, chemical plants, banking systems, and other critical infrastructure. These networks all have common vulnerabilities; the most critical of which is cybersecurity. Currently, systems use a wide variety of cyber protections but with the advent of quantum offensive capabilities, all are still vulnerable to attacks that decrypt the protection and attack the system."

Liscouski continued, "Based on my experience in the US government and private sector, there is a critical need for secure and authenticated communications. The current authentication loophole has diminished the effectiveness of quantum networks. In fact, this is the reason why the national security agencies do not support the usage of Quantum Key Distribution ("QKD") nor anticipate certifying or approving any such products for usage by National Security Systems customers. Our QCI quantum cyber security approach will definitively fill in this gap. QCI's ability to build products and services around this patent and our deep expertise in photonic quantum engineering are combined to offer very practical and deployable solution. QCI has technology that can mitigate if not eliminate these vulnerabilities in the Post Quantum Cryptography world.'

For additional information on the company's suite of solutions, please visit our website or contact our team directly.

About Quantum Computing Inc.

QCI is a full-stack quantum software and hardware company on a mission to accelerate the value of quantum computing for real-world business solutions, delivering the future of quantum computing, today. The company is on a path to delivering an accessible and affordable full-stack solution with real-world industrial applications, using quantum entropy, which can be used anywhere and with little to no training. QCI's experts in finance, computing, security, mathematics and physics have over a century of experience with complex technologies ranging from leading edge supercomputing to precision sensors and imaging technology, to the security that protects nations. For more information about QCI, visit www.quantumcomputinginc.com.

About Quantum Innovative Solutions

QIS, a wholly owned subsidiary of Quantum Computing Inc., is a newly established supplier of quantum technology solutions and services to the government and defense industries. With a team of qualified and cleared staff, QIS delivers a range of solutions from entropy quantum computing to quantum communications and sensing, backed by expertise in logistics, manufacturing, R&D and training. The company is exclusively focused on delivering tailored solutions for partners in various government departments and agencies.

Important Cautions Regarding Forward-Looking Statements

This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. Those statements include statements regarding the intent, belief or current expectations of Quantum Computing Inc. (the "Company"), and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. 

The Company undertakes no obligation to update or revise forward-looking statements to reflect changed conditions. Statements in this press release that are not descriptions of historical facts are forward-looking statements relating to future events, and as such all forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995. Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," "aim to," or variations of these or similar words, identify forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in the Company's Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in the Company's filings with the SEC.

View original content to download multimedia:https://www.prnewswire.com/news-releases/quantum-computing-inc-commences-cyber-security-launch-as-patent-is-awarded-addressing-unconditional-network-security-301745892.html

SOURCE Quantum Computing, Inc

FAQ

What is Quantum Computing Inc.'s new initiative on quantum cyber security?

Quantum Computing Inc. is launching a quantum cyber security initiative based on a newly awarded international patent, providing exclusive rights to advanced network security solutions.

How does Quantum Computing Inc.'s quantum cyber security technology work?

The technology delivers zero-trust protections that secure communication among untrusted parties, utilizing principles of quantum physics.

How will Quantum Computing Inc.'s solutions impact the cybersecurity market?

The solutions aim to address critical vulnerabilities in the $2 trillion+ cybersecurity market, particularly in government and critical infrastructure sectors.

What is the significance of the patent awarded to Quantum Computing Inc.?

The patent provides exclusive rights to a methodology ensuring secure networking among multiple parties, filling a critical security gap in current systems.