NIST Unveils New Encryption Algorithms: How Tech Companies Are Leading the Quantum Charge

USA News Group Commentary
Issued on behalf of Scope AI Corp.

VANCOUVER, BC, Aug. 15, 2024 /PRNewswire/ — How we protect our data is set to change. Cyber security experts are warning that enterprises must assess their computing vulnerabilities now, with the rise of quantum computing on the horizon, ending encryption as know it. In response to this impending threat, the U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) released its principal set of encryption algorithms designed to withstand cyberattacks from a quantum computer. According to analysts at Markets and Markets the Quantum Computing Market is set to explode at a CAGR of 32.7% through to a US$5.3 billion market by 2029, while Grand View Research predicts the Quantum Cryptography Market to grow even faster with a 38.3% CAGR to hit US4.6 billion by 2030. Several tech developers have embarked on a transition journey into what’s known as post-quantum cryptography (PQC), including developments from Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF), Alphabet Inc. (NASDAQ: GOOG, GOOGL), Apple Inc. (NASDAQ: AAPL), NVIDIA Corporation (NASDAQ: NVDA), and Zoom Video Communications, Inc. (NASDAQ: ZM).

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