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Quantum eMotion Comments on Highlights of Last Week IQT Quantum Cybersecurity Conference in New York and Its Relevance for QeM

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Montreal, Quebec–(Newsfile Corp. – November 1, 2022) – Quantum eMotion Corp. (TSXV: QNC) (OTCQB: QNCCF) (FSE: 34Q) (“QeM” or the “Company”) provides comments on QT Fall New York 2022.

Francis Bellido, CEO of QeM, said: “I had the opportunity to participate to the IQT conference that has quickly become the quantum industry’s leading conference on quantum cybersecurity. A great opportunity to meet several leaders of this nascent industry and to obtain a sound understanding on the current impact of quantum technology on cybersecurity and its future trends.”

Much of discussion was around the threat posed by Quantum computers and increased interest in PQC (Post Quantum Cryptography) across a broad range of industries. The conversation today is no longer about whether it is necessary to implement PQC, but when and how to do so. Because of “harvest now-decrypt later” hacking strategies, the quantum threat is increasingly seen as imminent. While PQC solutions are mainly software oriented, hardware solutions based on chipsets were also discussed. It is expected that these chips will be specifically PQC chips that will be enough performant to provide extra power and memory to run the latest PQC algorithms. In many cases, entirely new chips will have to be developed to comply with ever increasing needs for speed and throughput.

Another topic of interest was the threat that quantum computers pose to the “blockchain” perennity. Blockchain technology has been proposed for a wide range of transactions, including finance, insurance, real estate, voting, supply chain tracking, gambling, etc. A quantum computer-compromised blockchain would allow eavesdropping, unauthorized client authentication, signed malware, a man-in-the-middle attack (MITM), forged documents, and emails. These attacks can lead to key operations disruption, reputation, and trust damage, as well as loss of intellectual property, financial assets, and regulated data.

Francis Bellido, CEO of QeM, added: “I was very encouraged by what I heard at the conference regarding the strategic avenues that we chose for QeM. The choice we made in building our pipeline of product seems to be in perfect harmony with the challenges and opportunities that are at stake in the cybersecurity space:

• We have recently produced the next generation of QRNG solutions, based on electron quantum tunneling, that is not only at the extremes of performance levels, but also shows distinctive advantages in term of robustness, scalability, and cost. Currently, we are finalizing the development of our first quantum secure messenger platform, designed to be able to send large and complex messages, including whole database structures. This revolutionary quantum platform can be readily used to design and deploy specialist hardware components while the objective remains a cybersecurity chip or chip-set that would include our QRNG. Its first application will be the secure communication of Electronic Health Records.

• We recently announced the design completion of the First Crypto Hardware Wallet hardened with quantum technology to make it inviolable for the hackers. Based on the same architecture as our QRNG, it will be able to store private keys for cryptocurrencies offline. We expect to have our first physical prototype in 2023.

We expect these two products will be transformational for our company and propel QeM among the decisive players of the quantum cybersecurity industry.”

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: [email protected]
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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/142602

Fintech

Expressions of Interest for Director of the European Bank for Reconstruction and Development

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The Minister for Finance, Michael McGrath, is inviting Expressions of Interest from suitably qualified candidates to be considered as Ireland’s Director of the London-based European Bank for Reconstruction and Development (EBRD). The remunerated position of Director is an important post with a demanding workload. A full-time residential position, it is based at Bank headquarters in London.

The Minister’s nominee is expected to be appointed by the EBRD, with the agreement of Ireland’s Constituency partner countries, for a three-year term from 1 August 2024.

Minister McGrath commented:

“This is an exciting opportunity to represent Ireland (and our Constituency partners Denmark, Lithuania and Kosovo) as a Director on the Board of the European Bank for Reconstruction and Development overseeing the policy-making and governance of the Bank. The EBRD is a unique International Financial Institution supporting projects across three continents. By investing in projects which otherwise would not be fully met by the market, the EBRD promotes entrepreneurship and fosters transition towards open and sustainable market economies. I am keen to ensure our Irish representative has the ability, education, vision, and experience to make a significant contribution to the Board and brings a range of skills and diverse perspective to the deliberations of the Board.

My nominee will need high competence in economic and financial matters. Expertise can come from notable or significant achievements in the corporate or financial sector, academia, policy-focused institutions, or public service. Importantly, they will have the highest ethical standards, a strong sense of professionalism and commitment, and dedication to serving the interests of all the shareholders and be able to make themself readily available to the Board in the fulfilment of their duties.”

Expressions of interest will be accepted up to 3pm on 27th March 2024

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Council adopts regulation on instant payments

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The Council adopted today a regulation that will make instant payments fully available in euro to consumers and businesses in the EU and in EEA countries.

The new rules will improve the strategic autonomy of the European economic and financial sector as they will help reduce any excessive reliance on third-country financial institutions and infrastructures. Improving the possibilities to mobilize cash-flows will bring benefits for citizens and companies and allow for innovative added value services.

The instant payments regulation will allow people to transfer money within ten seconds at any time of the day, including outside business hours, not only within the same country but also to another EU member state. The regulation takes into consideration particularities of non-euro area entities.

Payment service providers such as banks, which provide standard credit transfers in euro, will be required to offer the service of sending and receiving instant payments in euro. The charges that apply (if any) must not be higher than the charges that apply for standard credit transfers.

The new rules will come into force after a transition period that will be faster in the euro area and longer in the non-euro area, that needs more time to adjust.

The regulation grants access for payment and e-money institutions (PIEMIs) to payment systems, by changing the settlement finality Directive (SFD). As a result, these entities will be covered by the obligation to offer the service of sending and receiving instant credit transfers, after a transitional period. The regulation includes appropriate safeguards to ensure that the access of PIEMIs to payment systems doesn’t carry additional risk to the system.

Under the new rules, instant payment providers will need to verify that the beneficiary’s IBAN and name match in order to alert the payer to possible mistakes or fraud before a transaction is made. This requirement will apply to regular transfers too.

The regulation includes a review clause with a requirement for the Commission to present a report containing an evaluation of the development of credit charges.

Background

This initiative comes in the context of the completion of the capital markets union. The capital markets union is the EU’s initiative to create a truly single market for capital across the EU. It aims to get investment and savings flowing across all member states for the benefit of citizens, businesses, and investors.

On 26 October 2022 the Commission put forward a proposal on instant payments that amends and modernises the single euro payments area (SEPA) regulation of 2012 on standard credit transfers in euro by adding to it specific provisions for instant credit transfers in euro.

Source: European Council

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FCA highlights need for enhanced competition in wholesale data markets

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The FCA has unveiled the outcomes of its in-depth study into the wholesale data market, focusing on the sectors of credit ratings data, benchmarks, and market data vendor services.

Despite deciding against major regulatory actions due to the risk of unintended consequences that could affect the data’s availability and quality—a crucial resource for global investors—the FCA has pinpointed several areas where competition could be significantly improved.

The study’s revelations indicate that the current state of competition in these markets may lead to users incurring higher costs for data than would be the case in a more competitive environment. This concern is particularly pressing given the critical role that such data plays in supporting effective investment decisions across the financial sector.

In a move to address these findings, the FCA has proposed initiatives aimed at ensuring wholesale data is distributed under fair, reasonable, and transparent conditions. This approach forms a part of the regulator’s broader strategy to ‘repeal and replace’ assimilated EU law, reinforcing the UK’s status as a premier global financial hub fostering investment, innovation, and sustainable growth.

Sheldon Mills, the FCA’s Executive Director of Consumers and Competition, emphasised the importance of quality and accessible wholesale data for the efficiency of financial markets. “The quality and availability of wholesale data is integral to well-functioning wholesale financial markets,” Mills stated. He further clarified, “Our market study found that firms can access the data they need to make effective investment decisions. We do not believe the case has been made for significant interventions. However, we will examine ways to help support wholesale data being provided on fair, reasonable and transparent terms.”

In its commitment to fostering a competitive and fair marketplace, the FCA will continue to scrutinize allegations of anti-competitive behavior across all markets, including wholesale data markets, leveraging its powers under the Competition Act to address any such issues.

Source: Fintech Global

 

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