December 16, 2024 (Source) — Krown Technologies Ltd. (Krown Network), a leading innovator in Blockchain, FinTech, and Artificial Intelligence infrastructure, and Quantum eMotion Corp. (TSXV: QNC) (OTCQB: QNCCF) (QeM) a leader in classical and quantum cybersecurity solutions, are pleased to announce a strategic alliance. This partnership, formalized through a Memorandum of Understanding (MOU), represents a significant milestone in advancing security, functionality, and efficiency within the blockchain ecosystem.
Quantum computing menace
Quantum computing poses a significant threat to blockchain technology by potentially breaking the cryptographic algorithms that secure it. Shor’s algorithm could enable private key theft, Grover’s algorithm might weaken mining security, and exposed public keys could face retroactive exploitation. While current quantum capabilities are limited, developing quantum-resistant cryptography and key migration strategies is essential to safeguard blockchain systems against future quantum advancements.
Revolutionizing Blockchain Security with Combined Expertise
This alliance leverages Krown’s robust blockchain ecosystem and development expertise alongside Quantum eMotion’s cutting-edge QRNG technology. The companies aim to deliver a new security standard for blockchain infrastructure and cryptocurrency wallets. QRNGs harness the inherent unpredictability of quantum mechanics to produce true randomness, a crucial factor in secure cryptographic operations.
Krown’s extensive experience in Blockchain, FinTech, and Artificial Intelligence innovation and Quantum eMotion’s pioneering advancements in QRNG technology will enable practical, scalable solutions that address current and future security challenges in the digital asset space.
Objectives of the Strategic Alliance
The partnership between Krown Technologies and Quantum eMotion focuses on:
Seamless Integration Across the Krown Ecosystem: Incorporating QRNG technology within the Krown Blockchain, cold wallet storage solutions, hot wallets, and security infrastructure.
Enhancing Encryption and Authentication: Merging Krown’s blockchain expertise with Quantum eMotion’s QRNG solutions to elevate cryptographic standards.
Futureproofing Against Emerging Threats: Strengthening resistance to quantum computing threats by aligning with quantum-resistant cryptographic techniques.
Driving Collaborative Innovation: Creating a dynamic partnership that fosters technological advancements and market growth for both companies.
A Balanced Synergy
Krown Technologies brings an extensive intellectual property portfolio, a proven track record in blockchain infrastructure, and a team with decades of experience in blockchain, fintech, and cybersecurity. Krown’s commitment to deploying cutting-edge technologies positions it as an ideal partner for showcasing QRNG’s real-world applications.
Quantum eMotion contributes groundbreaking QRNG technology that provides unparalleled randomness essential for cryptographic systems. Their expertise in quantum communication and recent patent filings in QRNG applications demonstrate their leadership in this field.
Key Benefits of QRNG-Enhanced Cryptography
The integration of QRNG technology offers several advantages:
Enhanced Security: True randomness significantly strengthens encryption keys and overall data protection.
Improved Entropy: High-quality randomness is critical for secure cryptographic protocols.
Quantum-Resistant Measures: Supporting the transition to quantum-resistant cryptography to secure systems for the future.
Market Potential and Strategic Vision
The QRNG market is projected to exceed $4 billion by 2030 for physical devices and over $100 billion for cloud-based applications. The global blockchain market size is projected to grow from USD 20.1 billion in 2024 to USD 248.9 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 65.5% during the forecast period. This partnership positions both Krown and Quantum eMotion as leaders in addressing the growing demand for secure blockchain solutions, paving the way for groundbreaking advancements in the industry.
Commenting on the Partnership
“This alliance reflects our shared vision for blockchain security and innovation. By integrating Quantum eMotion’s QRNG technology into our ecosystem, we are setting a new benchmark for digital asset protection,” said James Stephens, CEO of Krown Technologies.
“Collaborating with an innovative leader in Krown Technologies, allows us to showcase the practical benefits of our Quantum-based solutions. Together, we are driving a new era of secure and scalable blockchain technology,” added Francis Bellido, CEO of Quantum eMotion.
About Krown Technologies
Krown Technologies is a global leader in blockchain innovation, offering a comprehensive ecosystem that includes blockchain infrastructure, security solutions, and decentralized applications. With a commitment to advancing the cryptocurrency industry, Krown combines extensive industry expertise with cutting-edge technology to deliver unparalleled value.
About Quantum eMotion
The Company’s mission is to address the growing demand for affordable hardware and software security for connected devices. Thanks to its patented Quantum Random Number Generator, QeM has become a pioneering force in classical and quantum cybersecurity solutions. This security solution exploits quantum mechanics’ built-in unpredictability and promises to provide enhanced protection for high-value assets and critical systems.
The Company intends to target highly valued Financial Services, Healthcare, 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 visit our website at https://www.quantumemotion.com/ or 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.
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