TORONTO, Nov. 12, 2019 /CNW/ - 01 Communique Laboratory Inc. (the "Company") (ONE:TSX-V) launched its quantum hackathon tackling the threat of quantum computing. Cybersecurity companies, computer science students and hackers have begun challenging the Company's 'quantum-safe' encryption in a $100,000 hackathon.
On November 6th, the Company hosted an innovation celebration event with technology presentations from industry experts in artificial intelligence and cyber security. Andrew Cheung, 01 Communique's CEO, was one of the presenters addressing business people, students, and hackers on the threat quantum computers present with respect to keeping your data safe. He revealed the purpose behind the hackathon and why he is confident enough to offer a $100,000 prize.
Andrew Cheung enthusiastically described the hackathon challenge, "Our hackathon will show the world that our encryption is rock-solid. We are the only Canadian company and the first post-quantum encryption to offer a prize of $100,000. We have invested over three years in developing our IronCAP technology with a development team that has combined 50 years of experience in code-based encryption. We are very confident that our technology will withstand any attempt by any participant to crack the code in our hackathon."
The Company expects contestants from around the world to challenge its quantum-safe encryption. The hackathon is available online globally. Anyone to who has a Google or Facebook account can sign up to participate. Contestants will be given 30 days to crack IronCAP's code. A cash prize of $100,000 will be awarded to the first person (if there is any) who is able to break the encryption. A paper describing the method used to crack the encryption is required to be submitted by the participant.
Innovative people working in tech along with researchers, computer scientists, students and hackers are encouraged to sign up for the hackathon. Signup will be accepted online at www.ironcap.ca beginning November 11, 2019 and the contest closes on December 12, 2019. Result will be announced on or about December 16, 2019.
About 01 Communique
01 Communique Laboratory Inc. (TSX-V:ONE) is focused on cybersecurity with its IronCAP patent-pending cryptographic system designed to protect users and enterprises against the ever-evolving illegitimate and malicious means of gaining access to their data today and in the future with the introduction of powerful quantum computers. Based on improved code-based encryption it is designed to be faster and more secure than current standards. IronCAP operates on conventional computer systems so users are protected today while at the same time being secure enough to safeguard against future attacks coming with the introduction of quantum computers. Along with IronCAP the Company's legacy business provides customers with a suite of secure remote access services and products. These legacy products 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 on the Company visit www.01com.com or for more information on IronCAP visit www.ironcap.ca.
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. 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.
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SOURCE 01 Communique Laboratory Inc.
For further information: INVESTOR CONTACT: Andrew Cheung, Chief Executive Officer, 01 Communique, (905) 795-2888 x206, [email protected]