Quantum eMotion to finalize its first product after resolving its supply chain bottleneck due to global chip shortage
November 10 2021 - 9:11AM
InvestorsHub NewsWire
Quantum eMotion to finalize its
first product after resolving its supply chain bottleneck due to
global chip shortage
MONTREAL, November 10th, 2021 - InvestorsHub NewsWire
-- Quantum eMotion Corp. ("QeM" or the "Company") (TSX-V:
QNC; OTCMKTS: QNCCF; F: 34Q) today announced that it has
finally obtained the key integrated circuits whose unavailability
had threatened the timely delivery of its first product.
Francis Bellido, CEO of Quantum eMotion, commented "We are
extremely pleased to have found the FTDI chip we needed to complete
the design of our first QRNG device. We have lost a few months due
to the worldwide semi-conductor shortages and supply chain
bottlenecks that have paralyzed so many industries, but now we feel
confident that we can move forward and execute our ambitious
business plan".
"Our first product is a portable USB QRNG device that will
generate pure randomness as the cornerstone of un-hackable
encryption systems. We are planning to use this
device to develop, in collaboration with institutional technology
partners, breakthrough security solutions for blockchain
applications. Block addresses are generated with random numbers and
cryptographic hashing algorithms. They are key to the trust of the
blockchain. Any weakness in the randomness used could be exploited
by an attacker to predict things and breach the system".
The disruption and havoc created by cybercriminals have been
exacerbated by the COVID-19 crisis. The very recent cyberattack on
the Newfoundland healthcare system that cybersecurity experts
qualify as the worst in Canadian history is just another
almost-daily example of this global threat. Earlier in July, the
treacherous cyberattack on global IT provider Kaseya affected more
than 1,500 businesses all over the world, bringing down local
governments and shaking an already strained U.S.-Russia
relationship at the worst possible time.
Francis Bellido added "Cybersecurity has become a central
focus for headline news as hacks and ransomware attacks continue to
proliferate globally. It is time for a QRNG imperative—a
quantum-based solution that prevents a hack at source. We are
diligently working on getting a product to market that is both
scalable and cost effective."
According to ResearchAndMarkets.com:
The global cyber security market is projected to exceed US$
330 Billion by 2027. Cybersecurity is becoming a strategic
imperative for organization owing to increased focus on preventing
information in the wake of high-profile data thefts and breaches.
The worldwide spending on cybersecurity is increasing as it is
becoming difficult to keep pace with the rise in cybercrimes and
malware attacks on governments, BFSI and healthcare organizations.
The adoption of cybersecurity solutions is expected to grow with
the increasing penetration of internet among developing and
developed countries. Also, the expanding wireless network for
mobile devices has increased data vulnerability making
cybersecurity an integral part of every single organization across
the world.
https://www.globenewswire.com/news-release/2021/11/04/2327215/28124/en/Growth-Opportunities-in-the-Global-Cyber-Security-Market-to-2027-Growing-Cyber-Attacks-and-Remote-Work-Drive-Growth-of-Cybersecurity-Needs-Across-Business-Models.html
About QeM
The Company's mission is to address the growing demand for
affordable hardware security for connected devices. The patented
solution for a Quantum Random Number Generator exploits the
built-in unpredictability of quantum mechanics and promises to
provide enhanced security for protecting high value assets and
critical systems.
The Company intends to target the highly valued Financial
Services, Blockchain Applications, Cloud-Based IT Security
Infrastructure, Classified Government Networks and Communication
Systems, Secure Device Keying (IOT, Automotive, Consumer
Electronics) and Quantum Cryptography.
For further information, please contact:
Francis Bellido, Chief Executive Officer
Tel : 514.956.2525
Email: info@quantumemotion.com
Website: www. quantumemotion.com
Neither TSX Venture Exchange nor its 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.
This press release may contain forward-looking statements
that are subject to known and unknown risks and uncertainties that
could cause actual results to vary materially from targeted
results. Such risks and uncertainties include those described in
the Corporation's periodic reports including the annual report or
in the filings made by Quantum from time to time with securities
regulatory authorities.
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