Quantum eMotion Corp (TSX-V:QNC, OTCQB:QNCCF) CEO Francis Bellido weighed in on the company’s progress in 2022 and spoke to the next steps for 2023 in a statement released Thursday.
"2022 was an outstanding year for QeM as the company made transformational progress in key areas and laid the foundation for a bright future,” Bellido said, citing a $4.9 million capital raise, the launch of the QRNG2 (the market’s fastest entropy source, delivering 1.5 gigabytes per second of pure entropy) and completion of its first blockchain application of QRNG technology.
QRNG technology is intended to drastically improve the quality of encryption that safeguards the security and privacy of electronic communications and digital assets.
READ: Quantum eMotion adds veteran technology entrepreneur Paul Arsenault to its executive team
Looking forward, the cybersecurity market continues to offer immense opportunity, Bellido said.
“The disruption and havoc created by cybercriminals during the COVID-19 crisis continues to be exacerbated by other geopolitical factors such as wars and economic uncertainties, consequently the global cybersecurity market is expected to exceed US$ 250 billion by 2027.”
For 2023, QeM is developing several post-quantum cryptography hardware solutions where the QRNG2 plays a central role as a source of high-quality encryption, the company said.
One such solution a blockchain and cryptocurrency application, as this makes extremely high usage of cryptography, and its effectiveness requires strong random number generation to ensure the system remains impenetrable.
The company is currently prototyping the first crypto hardware wallet, which is hardened with quantum technology to make it incorruptible by hackers. The goal is to have it available in 2023.
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