Encryption May Soon Be Worthless. The Race to Replace It Is Creating a New Investment Boom

Globe and Mail

3 days ago

Issued on behalf of Scope Technologies Corp.
VANCOUVER – Baystreet.ca News Commentary – A breakthrough in quantum computing has just collapsed the timeline for breaking encryption. According to a new report in NewScientist, quantum computers may soon be able to crack RSA — the backbone of most modern encryption — in just 8 hours using 1 million qubits. That's a staggering leap from earlier estimates of 20 million qubits, and it's prompting experts to warn that a quantum-cryptography reckoning could be closer than anyone thought. Analysts at Grand View Research expect the post-quantum cryptography market to grow at 37.6% annually through 2030, while Research and Markets projects an even steeper CAGR of 41.47%, hitting US$17.69 billion by decade's end. For retail investors, the shift is already creating new entry points, with recent developments from innovators including Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF), Palo Alto Networks, Inc. (NASDAQ: PANW), WISeKey International Holding AG (NASDAQ: WKEY), SEALSQ Corp (NASDAQ: LAES), and Check Point Software Technologies Ltd. (NASDAQ: CHKP).
The global cybersecurity market is on track to hit US$562.7 billion by 2032, growing at a 14.3% annual clip, according to Fortune Business Insights. In healthcare alone, cybersecurity is expanding even faster, with Medi-Tech Insights projecting 18% CAGR across the sector.
Fortune Business Insights expects the broader global cybersecurity sector to top US$562.7 billion by 2032, expanding at a 14.3% CAGR. Within the healthcare sector, cyber security is growing even faster (18%) — according to Medi-Tech Insights.
Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF) today announced a major leadership transition, appointing Ted Carefoot as its new Chief Executive Officer. Carefoot, who previously served as Scope's VP of Product, brings over two decades of experience in cybersecurity, AI, and regulatory frameworks, including executive roles at Electronic Arts and Disney Online Studios Canada.
'Ted's leadership, industry experience, and deep expertise in risk management and regulatory standards make him the ideal person to guide Scope into this future,' said former CEO James Young, who will remain with Scope in an advisory role, praising the transition. 'I have full confidence in his ability to scale the company and deliver on our mission.'
Carefoot is certified in Governance, Risk & Compliance (GRC), Integrated Data Privacy, and Risk Management Framework (RMF) implementation—credentials that position him well to lead Scope's next phase of quantum-security growth.
'I'm honored to step into this role at such a pivotal time,' said Carefoot. 'With quantum computing threats becoming a reality, businesses and governments must act now to safeguard their data. I look forward to leading Scope's talented team as we help organizations future-proof their security infrastructure against these emerging threats.'
Scope Technologies is the developer of QSE (Quantum Security Entropy), a decentralized cloud platform built to withstand both current and next-generation cybersecurity threats. QSE uses quantum-resilient encryption, zero-trust architecture, round-trip encryption, and entropy-based randomness to protect communications and files from interception, tampering, or post-quantum decryption attempts. Internal benchmarks indicate that QSE can handle millions of encrypted messages per second, combining the scale of high-volume platforms with end-to-end quantum-resistant encryption.
Unlike legacy cybersecurity platforms retrofitted for modern threats, QSE was designed from the ground up to address tomorrow's vulnerabilities—particularly the 'harvest now, decrypt later' risk posed by emerging quantum computers. The platform offers both enterprise-grade features and user-friendly tools for retail adoption, including encrypted file storage, HIPAA-aligned compliance, and secure messaging.
Scope has steadily advanced QSE's capabilities. In Q1 2025, the company implemented major upgrades to boost platform redundancy, performance, and load capacity—supporting rising demand from institutional and private users. A full website and brand relaunch for QSE Group followed shortly after, streamlining the interface, clarifying access points, and integrating tools like the Quantum Preparedness Assessment (QPA).
A mobile app is currently in development, designed to extend QSE's quantum-resilient messaging and file-sharing features to regulated industries including healthcare, legal, and finance. The app will feature full round-trip encryption and white-label options for partners seeking to offer their clients next-gen privacy tools without exposing metadata, activity logs, or third-party surveillance points.
'We believe the future of digital communication demands more than just end-to-end encryption—it requires an entirely new paradigm of security and autonomy,' said Sean Prescott, Founder and CTO of Scope Technologies. 'Our mobile app will empower clients to offer a trusted digital experience to their employees and customers. This is a major step toward a truly decentralized and quantum-resilient future.'
Scope has also joined forces with World Cyber Health (WCH), the global nonprofit behind Malware Village, to promote international standards for post-quantum cybersecurity. As part of this collaboration, Scope will contribute expertise from the QSE platform to help public and private sector leaders prepare for quantum-era threats through education, advocacy, and industry-wide knowledge sharing.
As well, Scope has also expanded its distribution network, adding enterprise resellers across Europe and Asia. Key partnerships with Asia-Pacific distributor COGITO and Swedish Microsoft partner Coegi Cloud AB now give the company reach into over 40,000 institutional users globally.
On the financial front, Scope completed a $2.8 million capital raise earlier this year, with strategic backing from First Majestic Silver Corp., a former pilot customer that has since become a key investor. The second tranche of that funding closed in April and will support client onboarding and the QSE Mobile App rollout.
With post-quantum cryptography standards moving from theory to policy, Scope is gaining traction as a purpose-built solution in a sea of retrofits. Its momentum across enterprise, compliance, and infrastructure suggests it's not only ready for the coming quantum era—but may already be ahead of it.
Palo Alto Networks, Inc. (NASDAQ: PANW) is warning that quantum-enabled cyberattacks are no longer theoretical, with global adversaries already harvesting encrypted data in anticipation of future decryption.
"Harvest now, decrypt later is a threat that's already in motion," said Jesper Olsen, Chief Security Officer EMEA North at Palo Alto Networks. "Encrypted data is being stolen today with the expectation that it will be readable tomorrow."
The company is calling for immediate action, including encryption audits and phased implementation of post-quantum cryptography standards.
WISeKey International Holding AG (NASDAQ: WKEY) is advancing its quantum-secure space strategy with the planned launch of WISeSat 3.0, the first satellite to carry SEALSQ Corp's (NASDAQ: LAES)Quantum RootKey hardware module. Scheduled for mid-June, the launch represents a significant step toward space-based post-quantum key distribution, supporting encrypted satellite control, data transmission, and global IoT onboarding.
WISeSat's multi-layered cryptographic architecture will use NIST-standardized algorithms like CRYSTALS-Kyber and Dilithium to defend against both classical and quantum cyberattacks. The company aims to build a full satellite constellation by 2027 to support its 'Satellite-as-a-Service' platform.
Check Point Software Technologies Ltd. (NASDAQ: CHKP) recently unveiled its next-generation Quantum Smart-1 Management Appliances, featuring major upgrades in performance, scalability, and AI-driven security management. Designed for hybrid enterprises, the new models support up to 10,000 gateways, process logs 70% faster, and offer built-in tools for compliance, threat detection, and policy insights. Integrated with over 250 third-party systems, the appliances deliver unified visibility and automation through Check Point's Infinity Platform.
"Security teams today face more pressure than ever — from rising AI-generated threats to managing fragmented infrastructures,' said Nataly Kremer, Chief Product Officer at Check Point. 'Our new Quantum Smart-1 Management Appliances combine AI, speed, precision, and automation to help organizations manage on-premise, cloud, and distributed IT deployments — faster and smarter.
The company says the update addresses rising complexity as AI-powered attacks and distributed infrastructures reshape cybersecurity requirements.
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