Leader in quantum-safe encryption technology brings security expertise to public-private partnership making trade cheaper, simpler, faster and more sustainable.
LONDON, April 25, 2023 (GLOBE NEWSWIRE) -- A security partnership between the Centre for Digital Trade and Innovation (C4DTI) and Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (“Arqit”) will deliver digitally secure, globally interoperable trade solutions.
Coordinated by the International Chamber of Commerce (ICC) United Kingdom, C4DTI is industry-led and government-supported, working to create an open digital trade system based on common, internationally recognised standards. The centre was recently formally launched at its location at Teesside University and is funded by the Tees Valley Combined Authority (TVCA).
This partnership will focus on security, with Arqit collaborating on the development of digitally secure and interoperable solutions that facilitate adoption of digital trading processes. With the UK Government expected to enact legislation which will recognise electronic transferable documents, electronic trade document systems need to be fully compliant with MLETR (Model Law on Electronic Transferable Records) provisions for electronic record security and integrity. Data security adoption will be a central pillar of the partnership.
Arqit SVP Working Capital Technology lead, Dominic Broom, said:
“International trade is undergoing a massive digital transformation that will make processes more efficient, transparent and secure, thereby lowering transaction costs for businesses. Fundamental to this innovation is ensuring the security and integrity of these digital processes, which malicious actors will undoubtedly target. As a leader in quantum-safe encryption technology, Arqit is uniquely positioned to bring our expertise and experience to support C4DTI’s security strategy.
“Arqit is proud to partner with the C4DTI who are leading the charge in accelerating the digitalisation of trade in the UK and internationally. We are excited with the opportunity to work together to deliver digitally secure, globally interoperable trade solutions.”
Chris Southworth, Secretary-General of ICC United Kingdom, said:
“We are delighted to welcome Arqit as a partner for C4DTI and look forward to collaborating on projects including the vital work to educate businesses on the benefits of secure digital solutions.
“As nations look to realise the significant benefits from trade digitalisation, including the Electronic Trade Documents Bill soon to become law, now is the moment to turbocharge adoption across the world. C4DTI’s partnership with Arqit is a brilliant example of how the private sector can support the digitalisation of trade with their expertise and knowledge.”
ICC United Kingdom is the UK representative office of the International Chamber of Commerce, the largest world business organisation representing 45 million companies in 100 countries. ICC’s mission is to promote inclusive, sustainable and green trade. Its rules underpin $25 trillion of global trade. www.iccwbo.uk
C4DTI is an ICC United Kingdom-led public, private partnership that enables government and industry to coordinate and accelerate the digitalisation of UK trade. Launched in April 2022 as a public, private partnership, the Teesside-based C4DTI mission is to accelerate the digitalisation of UK trade and promote the adoption of interoperable legal, standards and rules frameworks. www.c4dti.co.uk
Arqit is dedicated to creating stronger, simpler encryption for all networked devices to keep the data of responsible governments, enterprises and fellow citizens safe.
Arqit’s product TradeSecure® generates and distributes digital trade finance instruments, protecting finance supply chains against disruption and fraud and improving their cash flow at the same time. Our unique technology can be deployed into any trade financing platform, giving our customers quantum-safe security against all current and future cyber threats. Using distributed ledger technology, Arqit provides customers with a unique referenceable and transferable digital finance instrument - which is easier to manage than paper-based alternatives.
TradeSecure® software is fully compliant with MLETR-based legislation and allows customers to secure their supply chains and increase their liquidity. TradeSecure® uses QuantumCloud™, Arqit’s unique symmetric key agreement software, which is designed to protect users from the growing quantum threat. The company was recently awarded the Innovation in Cyber award at the UK National Cyber Awards and Cyber Security Software Company of the Year Award at the UK Cyber Security Awards. www.arqit.uk
Caution About Forward-Looking Statements
This communication includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. These forward-looking statements are based on Arqit’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Arqit’s control. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Arqit to predict these events or how they may affect it. Except as required by law, Arqit does not have any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date this communication is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur. Uncertainties and risk factors that could affect Arqit’s future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: (i) the outcome of any legal proceedings that may be instituted against the Arqit related to the business combination, (ii) the ability to maintain the listing of Arqit’s securities on a national securities exchange, (iii) changes in the competitive and regulated industries in which Arqit operates, variations in operating performance across competitors and changes in laws and regulations affecting Arqit’s business, (iv) the ability to implement business plans, forecasts, and other expectations, and identify and realise additional opportunities, (v) the potential inability of Arqit to convert its pipeline into contracts or orders in backlog into revenue, (vi) the potential inability of Arqit to successfully deliver its operational technology, (vii) the risk of interruption or failure of Arqit’s information technology and communications system, (viii) the enforceability of Arqit’s intellectual property, and (ix) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Arqit’s annual report on Form 20-F (the “Form 20-F”), filed with the U.S. Securities and Exchange Commission (the “SEC”) on 14 December 2022 and in subsequent filings with the SEC. While the list of factors discussed above and in the Form 20-F and other SEC filings are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realisation of forward-looking statements.