Microchip signs PQShield for IoT security
Microchip has signed up PQShield in the UK for post-quantum encryption technology. This follows a deal with Crypto Quantique on device management last week.
PQShield has been a key contributor to the NIST post quantum encryption process in the US, and is the first company to submit a FIPS 140-3 library to support the process. The new standards from NIST are expected imminently to provide a standard for encryption that is hard to crack with quantum computers in the future.
“There’s been a major gear shift as companies realize just how serious a quantum attack could be for their business. ‘Harvest now, decrypt later’ attacks are the single biggest reason they are taking immediate action. It doesn’t matter that a viable quantum machine hasn’t yet arrived on the scene: any sensitive data stolen today will be ripe for immediate decryption as soon as it does,” said Ali El Kaafarani, PQShield’s founder and CEO.
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“Our new licensing deal with Microchip Technology is a great example of how seriously manufacturers are taking the quantum threat. OEMs and suppliers now understand that any hardware designed and built today could have a decades-long lifecycle. If it doesn’t have quantum-resistance baked in, that’s a huge security problem waiting to happen,” he said.
“We’re pleased that governments are shining the spotlight on this critical threat to infrastructure and requiring their agencies to implement new quantum-resistant encryption. As government partners and contractors adapt to the new standards, we expect more sectors to follow quickly in their footsteps.”
The company has also signed a deal with Collins Aerospace and launched a quantum-readiness programme for businesses of all stages, with IntraLink taking its business into Japan. The crypto discovery programme will use a commercial tool to help businesses understand what cryptography they have in place, and where.
The company also plans to double its team by the end of 2022. This follows the hiring of Alan Grau (ex-Sectigo) as VP Business Development; Michael Vroobels (ex-TrueLayer) as VP Operations; and Graeme Hickey (ex-NXP Semiconductors) as Senior Director of Engineering. Ben Packman (ex-advisor to Navenio, Vivacity Labs, ThoughtRiver and others) also joined the team as SVP Strategy in April.
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