Quantum Computing Inc. Congratulates Achievement as its Engineers Receive Prestigious Edison Patent Award for Groundbreaking Quantum Cybersecurity Invention

Rhea-AI Summary

Quantum Computing Inc. proudly announces that two of its engineers have been honored with the esteemed 44th Edison Patent Award for their contributions to quantum-secured privacy-preserving computations. The patent addresses a method for quantum authentication and zero-knowledge proof for network security, providing ultimate protection and unconditional security. The breakthrough technology fills a critical security breach vulnerability, offering a way to effectively secure identity authentication, data mining, and digital assets in an untrusted environment.

Insights

Cybersecurity Expert

The award-winning patent by Quantum Computing Inc. represents a significant advancement in the field of cybersecurity. The method of quantum authentication and zero-knowledge proof for network security is a pioneering approach that leverages the principles of quantum entanglement. Unlike traditional encryption methods, this technology offers a way to verify information without exposing the actual data, which could be a game-changer in protecting sensitive information from quantum computer attacks.

From a cybersecurity perspective, the ability to secure identity authentication and digital assets in an untrusted environment is paramount. As threats evolve, the need for unconditional security becomes more critical and the integration of this technology with existing infrastructure could provide a robust defense against potential breaches. The patent's broad applicability and compatibility with current communication networks make it a versatile tool in enhancing global digital security.

Quantum Technology Analyst

The recognition of Quantum Computing Inc.'s engineers with the Edison Patent Award highlights the company's role in driving innovation in quantum technologies. The patented technique for quantum authentication is distinct from quantum key distribution (QKD), which has traditionally been the focus for secure quantum communications. By combining authentication and encryption, the company addresses a wider range of security concerns, potentially expanding the market for quantum-secured communications.

Furthermore, the company's move to rapidly commercialize the technology by building a two-node quantum authentication system demonstrates a proactive approach to translating research into practical applications. This could position Quantum Computing Inc. as a leader in the quantum cybersecurity space, attracting interest from industries and government entities looking to future-proof their security infrastructure against advanced threats.

Market Analyst

The announcement of the patent award for Quantum Computing Inc. could have implications for the company's market position and investor sentiment. The patent's exclusive licensing to QCi and its perpetual terms indicate a strong intellectual property portfolio that could provide a competitive edge and potential revenue streams through licensing or product development. As the market for quantum computing and cybersecurity solutions is expected to grow, the company's stock could see increased interest from investors who are keen on companies with innovative and proprietary technologies.

Moreover, the company's commitment to addressing global challenges in cybersecurity and its potential to safeguard the internet aligns with the increasing emphasis on digital security in both the private and public sectors. This could lead to strategic partnerships, government contracts and an expansion of their customer base, all of which are positive indicators for business growth and stock performance.

LEESBURG, Va., Jan. 18, 2024 /PRNewswire/ -- Quantum Computing Inc. ("QCi", "we", "our" or the "Company") (Nasdaq: QUBT), an innovative quantum optics and nanophotonics technology company, today proudly announces that two of its engineers have been honored with the esteemed 44^th Edison Patent Award for their pathbreaking contributions to quantum-secured privacy-preserving computations. This recognition underscores their exceptional work in addressing cybersecurity threats and developing innovative solutions, including a revolutionary method of quantum authentication and private-data computing that can process and verify information without sharing that information.

The Edison Patent Award, a symbol of innovation and excellence, is a testament to the commitment, expertise, and innovation demonstrated by Dr. Yuping Huang, OCi's Chief Quantum Officer and Dr. Lac Thi Thanh Nguyen, the Quantum Technology Lead for QCi's Cybersecurity platform. Their critical work has significantly advanced Quantum Computing Inc's mission to harness the power of quantum technologies for real-world applications.

The patent underlying the award represents a milestone in the field of quantum information networks, a critical domain in the ongoing battle against cybersecurity threats facing industry, government, and individuals. The patent, which was granted approval in the United States and over 40 other countries during 2023, addresses a method for quantum authentication and zero-knowledge proof for network security that uses fundamental quantum physics to protect passwords, private information, and online assets. The patented technology describes a method of generating pairs of so-called "entangled" photons that can share certain properties, measurement results and security checks with each other — sharing joint communications — without ever disclosing in any way that private data in the process, either with each other or with external parties or computing processes. Distinct to any other protocol, the private information is coded on the measurement bases and never shared with any party, either directly or via encryption. Thus, it provides the ultimate protection and unconditional security.

In contrast to quantum key distribution which only protects encryption, this breakthrough patent fills a critical security breach vulnerability by offering a way to effectively secure identity authentication, data mining, and digital assets in an untrusted environment. Designed to be compatible with existing fiber-based communication infrastructure and satellite-based networks, the patent is a broad-use award based on a fundamental methodology for secure networking among multiple parties, uniquely combining quantum authentication and encryption in a single step and thereby safeguarding an entire network at all points of slippage. 

The patent was exclusively licensed to QCi with perpetual terms. For rapid commercialization, QCi has recently built a two-node quantum authentication system, leveraging the engineering skills that Huang and Nguyen acquired when they and team built a pilot three-node quantum network system over a university campus in 2018.

"Quantum Computing Inc. salutes our esteemed engineers. In an era where digital security is paramount, Drs. Huang and Nguyen have played a pivotal role in developing a method of quantum authentication that promises to revolutionize data protection and privacy. Until now, there was no end-to-end quantum solution to defend the security of our digital assets against AI or quantum computer attacks in the coming future. The integration of this comprehensive quantum protocol with quantum key distribution holds the promise of establishing a robust quantum-secured communication system that safeguards the internet for everyone," commented Robert Liscouski, CEO of Quantum Computing Inc. "The company is proud to be at the forefront of quantum technology advancements, providing solutions that address the evolving challenges of cybersecurity, and we remain committed to pushing the boundaries of quantum technology and providing innovative solutions to complex global challenges."

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

About Quantum Computing Inc. (QCi) 

Quantum Computing Inc. (QCi) (Nasdaq: QUBT) is an innovative, quantum optics and nanophotonics technology 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 provides accessible and affordable solutions with real-world industrial applications, using nanophotonic-based quantum entropy that can be used anywhere and with little to no training, operates at normal room temperatures, low power and is not burdened with unique environmental requirements. QCi is competitively advantaged delivering its quantum solutions at greater speed, accuracy, and security at less cost. QCi's core nanophotonic-based technology is applicable to both quantum computing as well as quantum intelligence, cybersecurity, sensing and imaging solutions, providing QCi with a unique position in the marketplace. QCi's core entropy computing capability, the Dirac series, delivers solutions for both binary and integer-based optimization problems using over 11,000 qubits for binary problems and over 1000 (n=64) qubits for integer-based problems, each of which are the highest number of variables and problem size available in quantum computing today. Using the Company's core quantum methodologies, QCi has developed specific quantum applications for AI, cybersecurity and remote sensing, including its Reservoir Photonic Computer series (intelligence), reprogrammable and non-repeatable Quantum Random Number Generator (cybersecurity) and LiDAR and Vibrometer (sensing) products. For more information about QCi, visit www.quantumcomputinginc.com.

The Edison Patent Awards

For more than 40 years, the Research & Development Council of New Jersey has recognized and highlighted the broad array of research conducted in the state and celebrated its exceptional inventors in an annual award ceremony named for Thomas Alva Edison, New Jersey's most famous inventor. Winners are selected by a team of Research & Development Council researchers who evaluate nominated patents based on the significance of the problem addressed, its utility/socioeconomic value, novelty and commercial impact. The Research & Development Council is a nonprofit 501(c)(3) organization whose membership includes representatives from academia, government, and industry, including several Fortune 500 companies. More information can be found at the Research & Development Council's website: www.rdnj.org. 

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 QCi 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. 

QCi 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. 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 QCi's Annual Report on Form 10-K and other factors as may periodically be described in QCi's filings with the U.S. Securities and Exchange Commission.

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SOURCE Quantum Computing Inc.

FAQ

What is the 44th Edison Patent Award and why is it significant for Quantum Computing Inc. (QCi)?

The 44th Edison Patent Award is an esteemed recognition for pathbreaking contributions to quantum-secured privacy-preserving computations. It is significant for QCi as it underscores the exceptional work of its engineers in addressing cybersecurity threats and developing innovative solutions.

Who are the engineers honored with the 44th Edison Patent Award and what are their contributions?

The engineers honored are Dr. Yuping Huang, OCi's Chief Quantum Officer, and Dr. Lac Thi Thanh Nguyen, the Quantum Technology Lead for QCi's Cybersecurity platform. Their contributions include a revolutionary method of quantum authentication and private-data computing that provides ultimate protection and unconditional security.

What does the patented technology described in the press release address?

The patented technology addresses a method for quantum authentication and zero-knowledge proof for network security. It uses fundamental quantum physics to protect passwords, private information, and online assets.

How does the patented technology differ from quantum key distribution?

In contrast to quantum key distribution which only protects encryption, this breakthrough patent offers a way to effectively secure identity authentication, data mining, and digital assets in an untrusted environment.

What is the potential impact of the patented technology on cybersecurity?

The patented technology promises to revolutionize data protection and privacy by filling a critical security breach vulnerability and offering a way to effectively secure identity authentication, data mining, and digital assets in an untrusted environment.