Stefan Mileschin

Former employees say the tech is a bit pants

Arqit says its encryption system can't be broken by quantum computers, but former employees and people outside the company question the relevance of its technology.

The UK cybersecurity startup rocketed to a multibillion-dollar valuation when it listed publicly last fall on the promise of making encryption technology that would protect the defence industry, corporations and consumers alike from the prying eyes of next-generation computer systems.

Founder and Chief Executive David Williams told investors at the time that his company, Arqit Quantum had an "impressive backlog" of revenue and was ready "for hyperscale growth."

But the Wall Street Journal said that Arqit had given investors an overly optimistic view of its future revenue and the readiness and workability of its signature encryption system.

Quoting experts and former staff members The Wall Street Journal the encryption technology the company hinges on -- a system to protect against next-generation quantum computers -- might never apply beyond niche uses.

https://fudzilla.com/news/54715-encr...quantum-claims