Vancouver, British Columbia--(Newsfile Corp. - January 17, 2025) - Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF) (FSE: VN8) ("Scope" or the "Company") announced today that, in response to accelerated advancements in quantum computing, it is temporarily pausing development of its GEM platform to focus exclusively on increasing its customer base for its quantum resilient entropy and security solutions ("QSE Group"). This strategic decision underscores the Company's commitment to staying ahead in addressing quantum-enabled data threats.
"Quantum computing doesn't need to be mainstream to become a threat," said Sean Prescott, Founder of Scope Technologies. "It only takes one advanced quantum computer in the wrong hands to render traditional encryption obsolete. That's why businesses must act now to secure their data, rather than wait for quantum technology to achieve mass adoption. Furthermore, some specialized quantum computing systems currently in the market can already be adapted to decrypt non-quantum-resilient encryption."
The Quantum Threat Is Already Real
In 2024, breakthroughs in quantum chip technology demonstrated significant progress in quantum capabilities, reinforcing that the quantum threat is no longer theoretical. The potential of "Harvest Now, Decrypt Later" (where encrypted data is stolen today and decrypted in the future using quantum power) have made quantum-resilient security a present-day imperative.
Recognizing the immediate need to prioritize quantum security, Scope Technologies has elected to temporarily pause development of GEM, its AI-powered visual recognition platform, and direct all resources and efforts toward advancing the QSE Group's solutions for quantum-resilient encryption and immutable decentralized cloud storage and increasing its customer base.
QSE Group's Quantum-Resilient Solutions Include:
Quantum-Proof Encryption: Secure data against even the most advanced quantum computing power.
Immutable Decentralized Cloud Storage: Protect against ransomware and other data integrity threats.
Trusted Standards: A fully NIST-standardized technology stack that meets the most rigorous quantum-resilience tests.
Seamless Integration: Easily integrates into existing cybersecurity infrastructures without costly overhauls.
Revenue Today, Protection for Tomorrow
Unlike companies developing quantum computers, whose revenue models often depend on future adoption, QSE Group's solutions provide immediate value. By safeguarding businesses against quantum-enabled threats that exist now or could emerge with a single technological breakthrough, QSE Group is positioned to deliver immediate and future-proof protection to its customers.
"The debate over whether or when quantum computing will become widespread is a distraction from the real issue: quantum threats are already here," added Prescott. "QSE Group isn't building quantum computers--we're providing the antidote to quantum threats today, delivering our solutions to businesses that need to protect themselves now and into the future."
This strategic realignment reflects Scope Technologies' unwavering commitment to leading the way in quantum security and ensuring its clients are protected against both current and future data threats.
About QSE Group
QSE Group, a division of Scope Technologies Corp., specializes in quantum-resilient encryption and secure cloud storage solutions. By leveraging true randomness (entropy) and advanced encryption techniques, QSE Group protects data from both current and future threats. Learn more at qse.group.
About Scope Technologies Corp
Headquartered in Vancouver, British Columbia, Scope Technologies Corp is a pioneering technology company specializing in quantum security and machine learning. Through its flagship brands, QSE Group and GEM AI, Scope provides next-generation solutions in data security, quantum encryption, and neural networks, empowering businesses with secure, scalable technologies that drive growth and operational efficiency.
LinkedIn: scope-technologies-corp
Facebook: Scope Technologies Corp
Twitter: @ScopeTechCorp
Contact Information:
James Young
CEO, Scope Technologies Corp.
Email: james@scopetech.ai
Phone: +1 604-416-1720
Website: www.scopetechnologies.io
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements that constitute forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that are not purely historical statements of fact are forward-looking statements and include statements regarding beliefs, plans, expectations, future, strategy, objectives, goals and targets, and more specifically, the use of proceeds of the Offering. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "aim", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks and are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, including, but not limited to, those risks and assumptions described in the Company's latest management discussion and analysis, a copy of which is available under the Company's profile on SEDAR at www.sedar.com. While Scope considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this press release. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions, continued satisfaction of Canadian Securities Exchange requirements, product safety and recalls, regulatory compliance and risks associated with the Company's business. Forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement.
The Canadian Securities Exchange has in no way passed upon the merits of the business of the Company and has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237531
SOURCE: Scope Technologies Corp.
