Toronto, Ontario--(Newsfile Corp. - February 24, 2021) - SoLVBL Solutions Inc. (CSE: SOLV), an innovative cybersecurity company that provides proprietary data authentication SaaS that uniquely features advanced cryptography for data authentication at unprecedented speed and scalability, announced that the Company has a patent pending with the United States Patent and Trademark Office to document the cryptographic protocol, which is at the heart of Q by SoLVBLTM.
The application encompasses the novel use of well known and time-tested cryptographic primitives, along with immutable media, to effectively remove the bandwidth and latency bottlenecks hampering many decentralized solutions. The protocol is data agnostic, in the sense that it can be applied to arbitrarily large, but finite, binary records, and produces transferable assurances which protect the record from future tampering - even in cases of collusion.
The result, as stated by CEO Ray Pomroy, "Is, we believe, an efficient and scalable means to render arbitrary binary records effectively immutable in that they cannot be forged or altered without detection." Such functionality opens the door for verifiable data, whose proof of authenticity can be stored and, or, transmitted alongside the data itself. In other words, data, which vouches for its own authenticity and integrity.
Being able to create self-authenticating data records will provide effective deterrence and a means of detection against numerous forms of digital forgery. Without such protective measures, systems and users have no ironclad way of determining whether some or all the digital information they consume has been doctored to misinform them. Undetected, the effects of forgery are boundless - and increasing every day - as more and more systems are being created to make automated critical decisions.
As an example, Stuxnet relied on forging data to achieve its goals, as does the concept of 'fake news' relying on forging facts. The 2016 Bangladesh Central Bank heist involved the forgery of transactional data pre- and post-transmission on the SWIFT network. Increasingly, digital records are being used to guide courts and public opinion. Q by SoLVBLTM can authenticate such digital records, and is capable of handling the sheer quantity of digital information being generated in the modern age.
The company also plans to file additional related patents, and commercializing numerous solutions to the increasing threat of digital forgery.
"The filing of our provisional patent application validates our intention to create innovative authentication solutions that are designed to prevent, and address security challenges faced by many companies," said Raymond Pomroy, CEO of SoLVBL Solutions Inc. "As the world moves to remote work, we plan to develop more advanced continuous authentication solutions that can challenge the current industry standards while ensuring our clients' workflow remains uninterrupted, uncorrupted, in and out of the office."
For further information, please contact
CEO, Raymond Pomroy
15 Toronto Street, Suite 602
Toronto, Ontario, M5C2E3
E: Ray.Pomroy@SoLVBL.com
T: 905.510.7982
About SoLVBL
SoLVBL is an innovative cybersecurity company. The company's mission is to empower, better, faster decisions by developing a universal standard for establishing digital record authenticity. The lead product Q by SoLVBL, is a proprietary software of the company, designed to be easy to use and adopt, economically priced and provide digital record authentication at lightning fast speed. Q by SoLVBL allows organizations to establish trust in their data. The company is currently pursuing the following verticals: chain of custody for digital evidence; including, NG-911, data used in the financial sector, medical applications and critical IoT infrastructures.
Forward-Looking Statements
The CSE has neither approved nor disapproved the contents of this press release.
NEITHER THE CSE NOR ITS MARKET REGULATOR (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the ability of the Company to successfully achieve its business objectives, including, the implementation and success of Q by SoLVBLTM, and expectations for other economic, business and/or competitive, factors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, SoLVBL assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law and may not be offered or sold in the "United States", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.
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