IronCAP (TM) Completes PoC of Quantum-Safe Blockchain
Jul 27th, 2022 12:00 EST
TORONTO, ON / ACCESSWIRE / July 27, 2022 / 01 Communique Laboratory Inc. (TSX-V:ONE; OTCQB:OONEF) (the "Company" or "01"), has successfully achieved all technical objectives necessary to integrate IronCAP™ into the Solana blockchain thereby providing a quantum-safe blockchain that supports smart contracts while retaining Solana's ultra-fast throughput.
"The technology we developed for this project is independent of the type of blockchain that is in use and as such it can be applied to not only the Solana blockchain but also other public blockchains such as Bitcoin, Ethereum, as well as most private business blockchains. The method of integration is unique and; therefore, we plan to file a patent application along with our partner, Talent Summit who has accepted and paid for the delivery of the Proof of Concept ("PoC"). Our next step will be to create and demonstrate a quantum-safe wallet while Talent Summit will plan for commercial development and launching of QNT - Quantum Native Token," said Andrew Cheung, President and CEO of 01 Communique.
As previously announced, the Company was 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 quantum-safe blockchain will be resilient against cyber-attacks, including attacks from Quantum Computers.
"Unfortunately, virtually all blockchains in the world today are vulnerable to quantum computer attacks. Since blockchain data is meant to be "forever" it is imperative that it is quantum-safe. This PoC achievement is a very significant milestone and demonstrates our IronCAP™ technology can transform existing blockchains into a quantum-safe version that can 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 #11,271,715. 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 StringerChief Financial Officer01 Communique(905) 795-2888 x204[email protected]
SOURCE: 01 Communique Laboratory, Inc.