IronCAP (TM) Completes PoC of Quantum-Safe Blockchain
TORONTO, ON / ACCESSWIRE / July 27, 2022 / 01 Communique Laboratory Inc. (TSX-V:ONE; OTCQB:OONEF) (the “Company” or “01”), has successfully achieved all technical goals necessary to integrate IronCAP™ into the Solana blockchain, thereby providing a quantum-secure 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 in use, and as such 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 together 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-secure wallet while Talent Summit will plan for the commercial development and launch 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-secure blockchain designed for Tokens, NFTs, Smart Contracts for the Metaverse, De-centralized Finance (DeFi). It is expected that this quantum-secure blockchain will be resistant to cyber-attacks, including attacks by Quantum Computers.
“Unfortunately, virtually all blockchains in the world today are vulnerable to quantum data attacks. Since blockchain data is meant to be ‘forever’, it is critical that it is quantum-proof. This PoC achievement is a very important milestone and demonstrates our IronCAP™ technology can transform existing blockchains into a quantum-safe version that can be incorporated into Tokens, NFTs, Smart Contracts for Metaverse, DeFi and more,” said Andrew Cheung.
About 01 communication
One of the first providers of enterprise-grade cybersecurity for the quantum computing era. The company’s cybersecurity business unit focuses on post-quantum cybersecurity with the development of its IronCAP™ technology, protected in the US by Patent No. 11,271,715. For more information, visit the company’s website at www.ironcap.ca and www.01com.com.
Warning regarding forward-looking statements
Certain statements in this press release may constitute “forward-looking” statements that involve known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of the Company, or the industry results, to differ materially from any future results, performance or performance expressed or implied by such forward-looking statements. When used in this press release, such statements use such words as “may”, “will”, “expect”, “believe”, “anticipate”, “plan”, “intend”, “is confident” and the like terminology. Such statements include statements regarding the Company’s ability to develop the planned quantum secure blockchain, the characteristics of such blockchain and the timing of development and implementation, business prospects for IronCAP™ and IronCAP X™, the future of quantum computers and their impact on the Company’s product offerings, 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 results of operations 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 Company’s ability to complete the PoC as anticipated, a delay in the anticipated use of quantum computers, the Company’s ability to obtain financing for following its business plan, competing products that provide a superior product, competitors with greater resources and the factors discussed under “Risk and Uncertainty” in the company’s management’s discussion and analysis document filed on SEDAR. Although the forward-looking statements in this press release are based on what the management of the company believes to be 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 press release, and the Company undertakes no obligation to update or revise them to reflect new events or circumstances.
Neither the TSX Venture Exchange (“TSX-V”) nor the 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 Stringer
Finance manager
01 Communication
(905) 795-2888 x204
[email protected]
SOURCE: 01 Communique Laboratory, Inc.
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