Arqit brings data security expertise to world-leading Centre for Digital Trade and Innovation
Leader in quantum-safe encryption technology brings security expertise to public-private partnership making trade cheaper, simpler, faster and more sustainable.
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.
About Arqit
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.