In the last two years we have seen a continuous upward trend in the number of cybersecurity breaches, with the record high being broken month-over-month. It is about time companies need to improve their cybersecurity defenses. The number one thing they need to be aware of is that the current encryption that protects their data is NOT GOOD ENOUGH.

In 2021, approximately 281.5 million people have been affected by a data breach.  More than 60% of the U.S. information security professionals said ransomware is as serious as terrorism. According to IBM, the average cost of a data breach is over $4 million and Mimecast estimates the average ransomware demand against US companies is over $6 million.  Even more alarming, Cybersecurity Ventures expects global cybercrime cost to reach $10.5 trillion USD annually by 2025.

It has been proven in the last two years that it’s a child’s play to phish individual’s private data; and no magic to breach the cybersecurity defenses of a multimillion-dollar company. This will get even more disastrous with quantum advancements headed our way.  Nation states and tech giants are already spending millions on quantum advancements. For example, on August 26th 2020, the U.S. Department of Energy (DOE) budgeted $625 million for quantum advancements. In 2021, Honeywell Quantum Solutions and Cambridge Quantum achieved a quantum volume of 1,024 and demonstrated real-time error correction that enables quantum machines to do more significant calculations with fewer qubits. And most recently in 2022, research led by the University of New South Wales, Sydney has proven that a near error-free quantum computing is possible, paving the way for large silicon-based quantum processors for real-world manufacturing and application.

Q-day, the day when quantum computers render all current encryption meaningless will soon be here, and may have even arrived already. Quantum threats are very real and we must become quantum-safe now in order to beat Q-day.

Government agencies across the globe are scrambling to find the best quantum-safe methodology. Among them the highly regarded NIST (National Institute of Standards and Technology) in the US is still two years away from announcing their “preferred method”.  It will be a big mistake to leave our data at risk of quantum threats now and wait for two more years.   Fortunately, a group of crypto-scientists have pioneered the development of IronCAP™ starting several years ago.  It’s a patent-protected quantum-safe encryption technology based on Goppa code-based system – 1 of the 5 favorable post-quantum cryptographic approaches recommended by NIST at this time.  IronCAP^TM is readily available for people to deploy on their classical computers today. It can be integrated with all kinds of vertical solutions such as email/file encryption, remote access/VPN, cloud storage, 5G/IoT, blockchains, financial transactions, etc., and safeguard you from cyber threats today and in the soon to arrive quantum computing era.

Learn more: www.ironcap.ca

References:
University of New South Wales research
Honeywell

Cybersecurity is critical to an organization’s digital health and resilience.  A vast majority of organizations around the globe rely heavily on digital technologies to function daily.  Consciously or unconsciously, we allow our data to be digitized and stored.  We are sharing all kinds of data online, be it a friendly invite, financial data or corporate contracts.  01 Communique has taken another step forward, partnering with Thales, a trusted global technology leader to provide quantum-safe cryptographic solutions to help businesses and government agencies achieve cyber resilience.  IronCAP™ will work closely with Thales to integrate and ensure compatibility with Thales’ Luna HSM solutions as well as joint-marketing the solutions.  For more information about the partnership:

https://cpl.thalesgroup.com/partners/01-communique-laboratory-inc

Research suggests in 2021, approximately 281.5 million people have been affected by a data breach and there were 160 million victims in the third quarter alone compared to 121 million victims in the first and second quarters.  That’s not all.  60% of the U.S. information security professionals say ransomware is as serious as terrorism.  According to Cybersecurity Ventures, by the end of 2021, it was estimated that an organization will be hit with a ransomware attack in every 11 seconds.  Every 11 seconds…that’s something to really think about.

Whether you are a cybersecurity geek or not, you likely have heard about the various quantum advancements in 2020 and 2021.  The rapid acceleration of quantum computing advancements threaten our current encryption algorithms. It’s a known fact that early-stage quantum computers are here and readily available for anybody to use. You read that right!  Back in 2019, IBM had already unveiled their first commercial quantum computer. In 2021 IBM delivered its 127 qubit Eagle processor, and declared that by 2023 it would be able to deliver a “quantum advantage.” Even Amazon offered their quantum computers for the public to use via their cloud service BRAKET.  In the summer of 2020, Honeywell announced that their quantum computers were superior to IBM’s and Google’s.  They also claimed they would increase their quantum volume 10X each year, and are sure trying to deliver. In 2021 Honeywell Quantum Solutions and Cambridge Quantum achieved a quantum volume of 1,024 and demonstrated real-time error correction, to a breakthrough algorithm that enables quantum machines to do more significant calculations with fewer qubits. It’s evident that the global quantum computing race has begun some time ago already and is advancing rapidly.

Unlike hardware, data cannot be replaced when encryption goes obsolete.  Data lives on for years, if not for decades.  As such we cannot simply address encryption algorithm obsolescence overnight. Asif Qayyum, Managing Director, Digital Security Risk & Controls at PwC Canada said that the industry is aware Q-Day is arriving if not already arrived. We need to prepare now because once the adversarial players crack the current encryption, it will be catastrophic. Here is a link to his full video: https://youtu.be/EdpRwnx5a58

This is why we’ve built IronCAP™, the solution to combat this threat.  IronCAP™ is the first-to-market a quantum-safe encryption solution, that is proven secure and readily available today.  And together with Thales we are confident we can reach a wider audience of businesses, organizations and government agencies, providing them with quantum-safe solutions that can help them to achieve cyber resilience.

Becoming quantum-safe 1-year-too-early or 1-year-too-late is everything.  Join top cybersecurity professionals to become quantum-safe with IronCAP™ and Thales today.