We have seen a massive ramp up in cyberattacks – SolarWinds, Colonial Pipeline, the world’s largest meat processing company JBS, giant gaming publisher Electronic Arts (EA), and the entire Irish health care system. That’s just the tip of the iceberg – statistics show about 91% of attacks are launched with a phishing email. The world is being hit by a Tsunami of cyberattacks and the winds are only going to get stronger with the fast-approaching quantum computing era.

The SolarWinds hack alone have exposed the databases of literally hundreds of government agencies and huge corporations. According to The Wall Street Journal, several U.S. agencies, including parts of the Pentagon, the Department of Homeland Security, the State Department, the Department of Energy, and the Treasury had all been breached.

Let me quote the U.S. Federal Reserve Chairman, Jerome Powell, “Cyberattacks are now the foremost risk to the global financial system, even more so than the lending and liquidity risks that led to the 2008 financial crisis.”

On June 1st 2021, the Biden administration proposed to commit $10 billion on cybersecurity.  Is that enough? What will cybersecurity look like in the quantum future?

With big nations and global tech firms investing billions of dollars in quantum computing research every year, the technology has advanced rapidly in the past two years. Forbes reported that the National Science Foundation (NSF) and the Department of Energy (DOE) had announced the investment of more than $1 billion over five years for quantum information science (QIS) centers. Quantum encryption and quantum hacking are a significant subset of that.

When cyber threats meet quantum computing, it’s a recipe for disaster.  The arrival of quantum computers which have excessive processing power will render current encryption systems, such as RSA, obsolete and leave data unprotected. Business leaders and government agencies must make cybersecurity a front and center issue and act NOW. And IronCAP™, the first-to-market quantum-safe encryption, can help you implement cyber preparedness.

To safeguard your data today and in the quantum future, please learn more at www.ironcap.ca.

Cryptographic technologies are utilized by all government bodies and industries to authenticate, as well as to secure their data and communications ensuring only those intended can access or receive the information. With the advancement of quantum computing, we should be aware that our widely deployed cryptographic algorithms that are used to protect our data privacy and communications today will be threatened.

The National Institute of Standards and Technology (NIST) whose mission is to promote U.S. innovation and is responsible for establishing technology, standards and metrics to be applied to the science and technology industries, gave this guideline in their Cybersecurity White paper published in April, 2021, “Continued progress in the development of quantum computing foreshadows a particularly disruptive cryptographic transition…We cannot accurately predict when a quantum computer capable of executing Shor’s algorithm will be available to adversaries, but we need to be prepared for it as many years in advance as is practical.”

Cambridge Quantum Computing (CQC)’s senior research scientist, Steven Herbert said, “We are now capable of achieving what was previously only a theoretical quantum speed-up. That’s something that none of the existing quantum Monte Carlo integration (QMCI) algorithms can do without substantial overhead that renders current methods unusable.”

Andrew Cheung and his team of crypto scientists at 01 Communique recognized this quantum threat 6 years ago. They are now one of the first-to-market, enterprise level cybersecurity providers for the quantum computing era. They have already released their post-quantum cryptography encryption API, IronCAP™ as well as developed a quantum-safe email encryption product called IronCAP X™. IronCAP™ quantum-safe cryptography can keep digital assets, digital infrastructure, trade secrets and customer data safe from hackers, whether they use traditional computers or quantum machines.

Cryptographic algorithm transitions take time and involve massive coordination effort across many stakeholders in different industries. By preparing now and adopting post-quantum cryptography solutions like IronCAP™ can ensure a more orderly, less costly, and modestly disruptive changeover.

To learn more, visit www.ironcap.ca

References:
NIST Cybersecurity White paper
Quantum Computing

On May 7th, 2021, Colonial Pipeline, the largest American oil pipeline system that carries 2.5 million barrels of fuel a day delivering 45% of what is consumed on the East Coast of the United States, was shut down by a ransomware attack.

The only surprise – is that anyone is surprised! First the SolarWinds and now this blatantly demonstrates the weak cybersecurity of critical national infrastructure. One thing is certain that we need a more advanced approach towards cybersecurity.

Ever since the Colonial Pipeline ransomware attack has become public knowledge, there has been panic fuel buying in the East Coast of the United States.  Fuel prices have creeped up across the country, and 17 US States and Washington DC have declared states of emergency. CTV news quoted U.S. President, Joe Biden, “We need to invest to safeguard our critical infrastructure.” And Energy Secretary, Jennifer Granholm, said the attack “tells you how utterly vulnerable we are” to cyberattacks on the U.S. infrastructure.

Cyber threats are real and can turn catastrophic with the arrival of quantum computing.  We can prevent these crippling cyberattacks by updating our approach to cybersecurity – becoming quantum-safe.

YES…we are sure that you need IronCAP’s quantum-safe encryption.  It is proven secure, approved by many industry leaders, provides seamless integration and MOST IMPORTANTLY it is IMMUNE to all current attack methodologies used against existing encryption systems such as RSA.

IronCAP’s cryptography can keep your digital assets, digital infrastructure, trade secrets and customer data safe from hackers today and in the post-quantum era.

To learn more visit www.ironcap.ca

References:
BBC
CTV news