Scope Technologies Corp (OTC: SCPCF) Stock On Radar After Latest Development

Tech stocks continue to be one of the more popular themes, and one of the companies that could be in focus today is Scope Technologies Corp. (OTC: SCPCF). The company was in the news cycle this past Friday after it made an announcement with regards to the continued fast advancements that were being made in the realm of quantum computing.

Key Development

The company announced yesterday that owing to the latest developments in quantum computing, it had decided to pause the development of its GEM platform. Instead, Scope Technologies would work entirely on the expansion of its customer base for its quantum-resilient security and entropy solutions. In the news release, the company stated that the decision was a strategic one and was also a demonstration of its continued efforts to stay at the forefront of quantum-powered data threats. It would be interesting to see how the company handles the next stage of this initiative.

Further Information

The company also stated that quantum computing did not need to be a mainstream phenomenon for it to become a threat. Only a solitary advanced computer in the hands of a bad actor could make traditional methods of encryption entirely obsolete in a short while.

Key Quote

“Quantum computing doesn’t need to be mainstream to become a threat,” said Sean Prescott, founder of Scope Technologies. “It only takes one advanced quantum computer in the wrong hands to render traditional encryption obsolete. That’s why businesses must act now to secure their data, rather than wait for quantum technology to achieve mass adoption. Furthermore, some specialized quantum computing systems currently in the market can already be adapted to decrypt non-quantum-resilient encryption.”