On‑target first release to customers paves the way for current year revenue generation
LONDON – Arqit Limited (“Arqit”), a leader in quantum encryption technology announces the release of the first version of its service, QuantumCloud™ 1.0. This Platform‑as‑a‑Service software enables customers to secure the communications channels and data of any cloud, edge or end-point device.
The service combines transformational and unique advances in both quantum and classical cryptography.
The release of QuantumCloud™ 1.0 allows customers to secure devices globally by providing a strong device authentication capability, over which is layered the agreement of symmetric keys between authenticated and authorised devices. Importantly, since there are no asymmetric cryptographic primitives used within the trustless key agreement protocol, the keys can be regarded as safe against future attack using Shor’s algorithm running on a quantum computer.
A range of other features will be added in future quarters, culminating in the launch of Arqit’s proprietary quantum satellites, which is targeted for 2023 and will replace terrestrial systems as the root source of randomness in QuantumCloud™, adding the final element of permanent security to the end‑to‑end system.
The service was successfully tested with customers in Q2, and QuantumCloud™ SDKs are now being shipped to a wider range of customers for testing and integration into live environments.
David Williams, Founder Chairman and CEO for Arqit said, “A growing number of customers in many sectors are now getting exposure to the transformational levels of security that can be provided by QuantumCloudTM. The version released today delivers stronger, simpler key agreement technology to counter the threats that we read about every day, and it has built in protection against the future threats from quantum attack. I believe that the transparency that a NASDAQ listing will bring is a great advantage for Arqit in promoting game changing technology, and we are now ready to scale up our platform for revenues this year.”
About Arqit Limited:
Arqit supplies a unique quantum encryption Platform-as-a-Service which makes the communications links of any networked device secure against current and future forms of attack – even from a quantum computer. Arqit’s product, QuantumCloud™, enables any device to download a lightweight software agent of less than 200 lines of code, which can create keys in partnership with any other device. The keys are computationally secure, don’t exist until the moment they are needed and can never be known by a third party. QuantumCloud™ can create limitless volumes of keys in limitless group sizes and can regulate the secure entrance and exit of a device in a group. The addressable market for QuantumCloud™ is every connected device.
On May 12, 2021, Arqit entered into a definitive agreement to combine with Centricus Acquisition Corp. (NASDAQ: CENHU, CENH, CENHUW), a special purpose acquisition company, which would result in Arqit becoming a publicly listed company on the Nasdaq Stock Market under the name Arqit Quantum Inc.
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