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Quantum Threats Are Accelerating -- These Companies Are Preparing for the Shift
PANWPalo Alto(PANW) Prnewswire·2025-03-18 15:11

Core Insights - The rapid advancement of quantum computing poses significant threats to current encryption methods, making quantum security a priority for businesses and investors [1][2] - The quantum communication market is projected to grow at a CAGR of 23-25%, reaching 14.9billionby2035,withpost−quantumcryptographyaccountingfor14.9 billion by 2035, with post-quantum cryptography accounting for 2.4 billion to 3.4billionofthattotal[1]−ScopeTechnologiesCorp.hasdevelopedanAI−poweredQuantumPreparednessAssessment(QPA)tooltohelpbusinessesevaluateandprotectagainstquantum−relatedcyberthreats[3][7]IndustryDevelopments−Europolhaswarnedthatfailuretotransitiontopost−quantumencryptioncouldleadtoasignificantdigitalcrisis,urgingswiftactionfromfinancialinstitutionsandpolicymakers[2]−Cybercriminalsareadopting"harvestnow,decryptlater"tactics,increasingtheurgencyforimplementingquantum−safecryptography[2][4]−Recentbreakthroughsinquantumtechnology,suchasGoogle′sWillowchipandMicrosoft′sMajorana1processor,demonstratetherapidprogressinthefield[5]CompanyHighlights−ScopeTechnologies′QPAtoolisnowfullyintegratedwithawidelyusedriskmanagementsystem,allowingbusinessestoassessrisksandplansecuritystrategieseffectively[3][7]−Thecompanysecured3.4 billion of that total [1] - Scope Technologies Corp. has developed an AI-powered Quantum Preparedness Assessment (QPA) tool to help businesses evaluate and protect against quantum-related cyber threats [3][7] Industry Developments - Europol has warned that failure to transition to post-quantum encryption could lead to a significant digital crisis, urging swift action from financial institutions and policymakers [2] - Cybercriminals are adopting "harvest now, decrypt later" tactics, increasing the urgency for implementing quantum-safe cryptography [2][4] - Recent breakthroughs in quantum technology, such as Google's Willow chip and Microsoft's Majorana 1 processor, demonstrate the rapid progress in the field [5] Company Highlights - Scope Technologies' QPA tool is now fully integrated with a widely used risk management system, allowing businesses to assess risks and plan security strategies effectively [3][7] - The company secured 2.8 million in new funding, including a 1.8millionprivateplacementanda1.8 million private placement and a 1 million debt financing deal, to support growth and innovation [9] - Scope Technologies is expanding its team and product lineup to reinforce its leadership in quantum-proof security [10] Competitive Landscape - Palo Alto Networks has launched a Quantum Random Number Generator (QRNG) Open API to facilitate the integration of quantum-safe cryptographic randomness into security systems [11][12] - Alphabet, Inc. has introduced quantum-safe digital signatures in its Cloud Key Management Service, utilizing NIST-standardized post-quantum cryptography [13][14] - Cisco Systems is advancing quantum-safe networking solutions by integrating Quantum Key Distribution (QKD) and Post-Quantum Cryptography (PQC) into its security framework [15][16] - WISeKey International Holding AG is consolidating its cybersecurity, blockchain, AI, and quantum-resistant cryptography technologies to enhance digital trust across industries [17][18]