Arqit Releases Post Quantum Encryption Mythbuster

The challenges of securing data in the post-quantum World are urgent and widespread understanding of the subject matter is needed

LONDON, April 19, 2022 (GLOBE NEWSWIRE) -- Arqit Quantum Inc. (“Arqit”, NASDAQ: ARQQ), a global leader in quantum encryption technology, released a new publication called “Post Quantum Cryptography Mythbuster” which can be viewed at https://arqit.uk/investors/resources/. The threat to data security from existing weaknesses in Public Key Infrastructure is rising rapidly and the development of quantum computing makes the problem critical.

There are a variety of approaches considered to solving the problems and the relative merits of each requires clear explanation to guide the reader new to the subject matter. Referring to the post quantum algorithms put forward, NIST said last year, “Unfortunately, the implementation of post-quantum public-key standards is likely to be more problematic than the introduction of new classical cryptographic algorithms. In the absence of significant implementation planning, it may be decades before the community replaces most of the vulnerable public-key systems currently in use.”

Dr Daniel Shiu, Arqit Chief Cryptographer said: “Arqit’s QuantumCloud^TM solution does not rely on a traditional mathematical algorithm to derive keys. Arqit’s entirely new system delivers symmetric key agreement using a light weight software agent which is small enough to run on any device, and creates computationally secure zero trust encryption keys. The keys work within existing standardised symmetric encryption algorithms like AES 256 and the Arqit software can be implemented easily as a mind-life upgrade without requiring costly transformation.”   

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Caution About Forward-Looking Statements

This communication includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. These forward-looking statements are based on Arqit’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Arqit’s control. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Arqit to predict these events or how they may affect it. Except as required by law, Arqit does not have any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date this communication is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur. Uncertainties and risk factors that could affect Arqit’s future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: (i) risks that the business combination disrupts Arqit’s current plans and operations, (ii) the outcome of any legal proceedings that may be instituted against the Arqit related to the business combination, (iii) the ability to maintain the listing of Arqit’s securities on a national securities exchange, (iv) changes in the competitive and regulated industries in which Arqit operates, variations in operating performance across competitors, changes in laws and regulations affecting Arqit’s business and changes in the combined capital structure, (v) the ability to implement business plans, forecasts, and other expectations after the completion of the business combination, and identify and realize additional opportunities, (vi) the potential inability of Arqit to convert its pipeline or orders in backlog into revenue, (vii) the potential inability of Arqit to successfully deliver its operational technology which is still in development, (viii) the risk of interruption or failure of Arqit’s information technology and communications system, (ix) the enforceability of Arqit’s intellectual property, and (x) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Arqit’s annual report on Form 20-F, filed with the U.S. Securities and Exchange Commission (the “SEC”) on December 16, 2021 and in subsequent filings with the SEC. While the list of factors discussed above and the list of factors presented in the final prospectus are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements.

Released April 19, 2022