NIST Unveils New Encryption Algorithms: How Tech Companies Are Leading the Quantum Charge

News provided by

Aug 15, 2024, 12:52 ET

USA News Group Commentary
Issued on behalf of Scope AI Corp.

VANCOUVER, BC, Aug. 15, 2024 /PRNewswire/ -- How we protect our data is set to change. Cyber security experts are warning that enterprises must assess their computing vulnerabilities now, with the rise of quantum computing on the horizon, ending encryption as know it. In response to this impending threat, the U.S. Department of Commerce's National Institute of Standards and Technology (NIST) released its principal set of encryption algorithms designed to withstand cyberattacks from a quantum computer. According to analysts at Markets and Markets the Quantum Computing Market is set to explode at a CAGR of 32.7% through to a US$5.3 billion market by 2029, while Grand View Research predicts the Quantum Cryptography Market to grow even faster with a 38.3% CAGR to hit US4.6 billion by 2030. Several tech developers have embarked on a transition journey into what's known as post-quantum cryptography (PQC), including developments from Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF), Alphabet Inc. (NASDAQ: GOOG, GOOGL), Apple Inc. (NASDAQ: AAPL), NVIDIA Corporation (NASDAQ: NVDA), and Zoom Video Communications, Inc. (NASDAQ: ZM).

Quantum computing is advancing quickly and may become a reality sooner than anticipated. At the recent Tech.eu Summit in London, experts explored the intersection of quantum computing with cybersecurity and AI, highlighting the profound implications of this emerging technology. According to PQShield CEO, Al El Kaafarani, 20% of the dominant players in each industry are expected to begin migrating to PQC this year.

In response to the demand for quantum-capable cybersecurity, Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) has upgraded its advanced flagship platform, GEM (General Enterprise Machine Learning). Most recently, Scope announced the successful global deployment of its latest core module that incorporates its Quantum Resilient Entropy (QSE Technology), the QSE Quantum Gateway.

The pivotal rollout delivers a significant milestone in Scope's mission to position businesses worldwide with cutting-edge quantum resilient entropy that drives security, scalability, and growth. Scope states that the QSE Quantum Gateway is designed to bridge the privacy and latency gap between institutional clients and their cloud infrastructure, no matter where their data centers are located.

Already, QSE Quantum Gateway has been deployed across multiple countries in various industries, proving its versatility and robustness in diverse business environments and complex architectures.

"This global deployment marks a new chapter in our journey to redefine the Entropy as a Service landscape," said Sean Prescott, Founder and CTO of Scope AI Corp. "When we first envisioned the QSE Product Suite, our goal was to create something that would not only meet the needs of today's businesses and their security expectations but also anticipate the challenges of tomorrow with the rise of Quantum Computers. Seeing it come to life on a global scale is incredibly fulfilling, and it strengthens our commitment to continue innovating and pushing boundaries for our customers."

The deployment comes just after Scope AI finalized the strategic acquisition of the QSE Technology. The acquisition gave Scope the ability to offer retail and institutional clients highly robust security solutions that are easy to integrate into existing infrastructures or expand upon. As quantum computing becomes more mainstream and advances rapidly, traditional encryption methods may become obsolete, posing significant risks to global data security.

"The quantum cryptography market is currently at $11 billion for 2024, and is projected to grow to $126 billion by 2033," said James Young, CEO of Scope AI. "This tremendous growth highlights the increasing demand for advanced quantum-resilient security solutions, and with our acquisition of QSE Technology, Scope AI is well-positioned to capitalize on this market. These new features, combined with the substantial progress in our development milestones, underscore our commitment to delivering state-of-the-art AI solutions that drive efficiency and performance in advertising technology."

Embedded within one of its recent updates to its Google Chrome 124 browser for developers, Alphabet Inc. (NASDAQ: GOOG, GOOGL) has incorporated X25519Kyber768 key encapsulation for Transport Layer Security (TLS) protocol, which protects current Chrome TLS traffic against quantum cryptoanalysis by deploying the Kyber768 quantum-resistant key agreement algorithm. However, early reviews of the update claimed that Google's new post-quantum cryptography was causing some issues, such as trouble connecting to websites, servers and firewalls.

Through a public email, Google addressed the necessity behind implementing quantum-resistant tools, despite the current threat being minimal, stating: "This protects users' traffic from so-called 'store now decrypt later' attacks, in which a future quantum computer could decrypt encrypted traffic recorded today."

Apple Inc. (NASDAQ: AAPL) has also recently upgraded its encryption for its programming language Swift, called "swift-homomorphic-encryption". The open-source package allows computations on encrypted data without decryption, safeguarding user information.

The Swift homomorphic encryption package utilizes the Hummingbird HTTP framework for cross-platform support, a Benchmark Library for performance evaluation, and Swift Crypto for low-level cryptographic primitives. It employs the Brakerski-Fan-Vercauteren (BFV) homomorphic encryption scheme to provide post-quantum 128-bit security, enabling secure computation on encrypted data while safeguarding against both classical and potential quantum attacks.

Notably, Apple has showcased the package's application in its iOS 18 Live Caller ID Lookup feature, which offers caller ID and spam-blocking services. According to Apple, this feature allows users to send an encrypted query to a server to retrieve information about a phone number without the server knowing the specific phone number in the request.

Video conferencing giant Zoom Video Communications, Inc. (NASDAQ: ZM) is also preparing for a quantum computing future with post-quantum encryption of its own. Zoom announced that post-quantum end-to-end encryption (E2EE) is now globally available for Zoom Workplace, specifically Zoom Meetings as of late May 2024, with Zoom Phone and Zoom Rooms also coming soon. The new security enhancement makes Zoom the first UCaaS company to offer a post-quantum E2EE solution for video conferencing.

"Since we launched end-to-end encryption for Zoom Meetings in 2020 and Zoom Phone in 2022, we have seen customers increasingly use the feature, which demonstrates how important it is for us to offer our customers a secure platform that meets their unique needs," said Michael Adams, CISO of Zoom. "With the launch of post-quantum E2EE, we are doubling down on security and providing leading-edge features for users to help protect their data. At Zoom, we continuously adapt as the security threat landscape evolves, with the goal of keeping our users protected."

Chipmaking giant NVIDIA Corporation (NASDAQ: NVDA) recently teamed up with QuSecure to support NVIDIA's cuPQC, a recently launched pioneering library set to redefine cryptography in the quantum era. The library set leverages unmatched parallelism of NVIDIA GPUs to meet the rigorous demands of next-generation security algorithms, marking a monumental leap in bringing PQC to environments that stand to benefit most from their protection, including telecommunications, insurance, banking and finance, critical infrastructure, and the public sector.

"QuSecure is proud to collaborate with NVIDIA as part of a vital alliance under the Linux Foundation, dedicated to cultivating an open-source repository of post-quantum algorithms and applications," said Rebecca Krauthamer, Co-Founder and Chief Product Officer at QuSecure. "NVIDIA's commitment to empowering developers in the post-quantum cryptography domain with cuPQC now accessible in an open beta release is particularly important in this global effort, as cyberattacks on data and networks are growing exponentially every year."

In groundbreaking benchmarks, cuPQC has already shown impressive acceleration of Kyber, a leading candidate for quantum-resistant keys, achieving speeds several times faster on an NVIDIA H100 Tensor Core GPU compared to traditional CPU benchmarks. The upcoming NVIDIA Blackwell architecture GPUs are optimized for the complex integer mathematics essential in cryptography and are expected to enhance this acceleration further.

Article Source: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/

CONTACT:

USA NEWS GROUP
[email protected]
(604) 265-2873

DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). MIQ has been paid a fee for Scope AI Corp. advertising and digital media from the company directly. There may be 3rd parties who may have shares Scope AI Corp., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Scope AI Corp. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Scope AI Corp. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

SOURCE USA News Group