TORONTO, Dec. 16, 2019 /CNW/ - 01 Communique Laboratory Inc.'s (the "Company") (ONE:TSX-V) quantum-safe encryption "IronCAP" proved to be un-hackable after the Company issued a world-wide challenge to hackers to crack the Company's quantum-safe encryption in 36 days in exchange for a $100,000 prize. Nobody was able to break the Company's encryption providing further validation of the strength of IronCAP's encryption platform.
Andrew Cheung, 01 Communique's CEO, stated, "This validates the strength of our IronCAP platform as to the Company's knowledge this is the first quantum safe encryption product to successfully emerge from a challenge similar to the Company's hackathon. Our team is very proud of IronCAP and our accomplishments to date and we will plan to continue to pioneer the industry and show industry and governments that IronCAP is the best choice for post-quantum encryption".
The hackathon was open to all security experts, cybersecurity enthusiasts, hacker, etc. around the world and attracted a total of 517 entries. Entrants were given 36 days to try cracking the IronCAP encryption and had the opportunity to win a $100,000 prize if they were successful. Not a single contestant was able to crack the IronCAP encryption.
Businesses and governments are preparing for the serious threat that quantum computing poses to traditional encryption. IronCAP's strength has been endorsed by industry experts. The CIOReview Editor's Choice Award is a proof that IronCAP is a promising quantum safe encryption today. For information on how IronCAP can help your company or clients become quantum safe, please visit our website, https://www.ironcap.ca/, or contact the Company at [email protected].
About 01 Communique
01 Communique Laboratory Inc. (TSX-V:ONE) is focused on cybersecurity with its IronCAP patent-pending cryptographic system. This system is designed to protect users and enterprises against the ever-evolving illegitimate and malicious means of gaining access to their data 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.
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.
SOURCE 01 Communique Laboratory Inc.
For further information: Investor Contact: Andrew Cheung, Chief Executive Officer, 01 Communique, (905) 795-2888 x206, [email protected]