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Ransomware Costs Surge as Quantum Computing Risks Loom: How Data Security Stocks Are Responding

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2 years ago

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USA News Group News Commentary

Issued on behalf of Scope Technologies Corp.

VANCOUVER, BC, Oct. 2, 2024 /CNW/ — USA News Group News Commentary – Ransomware is on the rise, according to the IBM Cost of a Data Breach Report 2024, with the global average cost of a data breach reaching $4.88 million this year, for a 10% increase over 2023. As computing power and technology advances, so too does the ability of cybercriminals to penetrate vulnerabilities, with 55% of companies reporting modern cybercriminals are now more advanced than their internal teams. With the rise of quantum computing the G7 Cyber Expert Group (CEG) recently advised the G7 Finance Ministers and Central Bank Governors encouraging jurisdictions to monitor quantum computing development, and begin planning for the potential risks quantum computing poses on some current encryption methods. Several tech developers are currently working on AI-powered, and future-proof quantum computing security to protect data today and tomorrow, with recent developments coming from, including: Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF), Gen™ (NASDAQ: GEN), Palantir Technologies Inc. (NYSE: PLTR), Veritone, Inc. (NASDAQ: VERI), and SentinelOne, Inc. (NYSE: S).

The article continued: Swedish multinational telecom Telia has warned that the rise of AI technology has increased the risk of cyber-attacks targeting businesses. The Federal Communications Commission addressed the need for better telecom security, forcing T-Mobile to pay $31.5 million in data protection and cybersecurity settlements after investigations into data breaches that impacted millions of US consumers.

Scope Technologies completes updates for Retail User Subscription Model for Fully Encrypted, Quantum-Resilient, and Decentralized Cloud Storage

Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF), a pioneering technology company specializing in quantum security and machine learning, today announced the successful completion of updates for its new retail subscription model, offering full access to its industry-leading encrypted, quantum-resilient, and decentralized cloud storage solutions. Having reached this key milestone, Scope Technologies is now in closed user group testing gearing up for the official launch, which will deliver top-tier data protection solutions to individual users and small to medium-sized businesses (SMBs).

As the global demand for secure, immutable data storage continues to rise, Scope Technologies’ QSE (Quantum Security & Entropy) platform delivers enhanced protection through a combination of post-quantum encryption and decentralized storage, ensuring data is safeguarded against both current and future cyber threats. Unlike standard cloud backups, QSE’s decentralized approach ensures that data remains immutable and resistant to ransomware and denial of service attacks, among many others.

“Data protection should not be a luxury,” said Sean Prescott, Founder and CTO of Scope Technologies. “Having completed the updates to our decentralized storage network, we are excited to bring the power of quantum encryption and decentralized storage to a wider audience. This solution ensures that individuals and businesses can protect their data not only from current threats but also from the unprecedented risks posed by quantum computing and ransomware.”

With updates now complete, Scope Technologies is gearing up to launch its decentralized cloud storage service, QSE, for retail users. This service provides robust data security through quantum-proof encryption, utilizing quantum entropy to create unbreakable encryption keys, even against future quantum computing threats. The decentralized infrastructure ensures that data is immune to tampering, over-encryption, or corruption, offering far superior protection compared to traditional cloud backups. Additionally, the service is designed for seamless integration with existing systems, allowing for easy setup and scalability via simple APIs. Scope’s affordable subscription plans make enterprise-level security accessible to individuals and small to medium-sized businesses, ensuring comprehensive data protection at competitive rates.

The upcoming retail subscription model will offer tiered pricing plans based on storage needs, with access to additional services such as increased entropy calls for enhanced encryption. This flexible pricing structure allows users to scale as their storage demands grow, all while maintaining the highest level of data security available today. Unlike traditional storage services, QSE’s decentralized, immutable infrastructure ensures that data remains secure and untouchable by attackers, offering a significant improvement over centralized cloud backups.

CONTINUED… Read this and more news for Scope AI at:  https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/

In other industry developments and happenings in the market this week include:

Gen™ (NASDAQ: GEN), a global company dedicated to powering Digital Freedom through its trusted Cyber Safety brands, recently announced that its employee benefits division Norton Benefit Solutions has expanded its offerings to help employers in the US, EMEA, LatAM and Asia protect their employees’ digital lives with all-in-one Cyber Safety solutions available through their benefits programs.

“Over the past 16 years, our team has offered Norton and LifeLock products to employers and has become a leading employee benefit provider in the United States and Canada, helping more than 10,000 companies protect their employees with a 99.8% retention rate,” said Casey Cullinan, Head of Norton Benefit Solutions. “As a global leader in Cyber Safety, we are passionate about making online privacy and protection accessible for people around the world.”

Palantir Technologies Inc. (NYSE: PLTR), a leading provider of AI systems, was recently recognized as a top performer by Dresner Advisory Services in the 2024 AI, Data Science, and Machine Learning Wisdom of Crowds® Market Study, for a second year in a row. The recognition came just days after Palantir announced a contract awarded by the DEVCOM Army Research Laboratory (ARL) expanding Maven Smart System access across the military services to include the Army, Air Force, Space Force, Navy, and US Marine Corps, worth up to $99.8 million over five years. The Maven Smart System is part of the National Geospatial-Intelligence Agency’s Maven AI infrastructure.

“To stay ahead of our adversaries, we must deliver software advantage at speed and at every level of the Department of Defense,” said Shannon Clark, Head of Defense Growth, Palantir. “NGA has been a leader in rapidly adopting the strongest AI capabilities to enable warfighters around the globe, and we are excited to support the program as it scales to meet critical infrastructure requirements across all of the services.”

Veritone, Inc. (NASDAQ: VERI), a leader in building human-centered enterprise AI solutions, recently announced a partnership with Midwest Public Safety, a premier provider of public safety technology solutions. As per the collaboration, Midwest Public Safety will offer its prospective and current customers across the Midwest Veritone Public Sector’s complete line of AI-powered applications for law enforcement and judicial agencies will help agencies streamline and automate manual workflows, accelerate investigations and improve public safety while providing greater transparency.

“We are excited to partner with Midwest Public Safety to expand the reach of our industry-leading technology across the Midwest,” said Jon Gacek, general manager, Public Sector, Veritone. “This collaboration underscores our commitment to providing law enforcement agencies with innovative AI-driven tools that streamline digital evidence management and protect privacy. By working with Midwest Public Safety, we are able to support agencies in their mission to serve and protect their communities more effectively and efficiently.”

SentinelOne, Inc. (NYSE: S), a global leader in AI-powered security, was recently named a Leader in the 2024 Gartner® Magic Quadrant™ for Endpoint Protection Platforms (EPP) for the fourth consecutive year, and also took top honors winning both the Best Enterprise Security Solution and the Best Endpoint Security Solution at the 2024 SC Media Awards.

The accolades came just weeks after SentinelOne announced a collaboration with Lenovo to protect Lenovo PCs with SentinelOne’s industry-leading Singularity™ Platform and generative AI capabilities (Purple AI) in new PC shipments, as well as offer upgrades to existing customers to expand its ThinkShield security portfolio and autonomously protect devices from modern attacks.

“The endpoint remains a primary vector of cyberattacks and the most critical part of a business’ ongoing operations,” said Akhil Kapoor, Vice President Embedded Business, SentinelOne. “By working with market leaders like Lenovo, we can rapidly scale AI-powered security to millions of PCs and servers across the globe.”

Article Source: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/ 

 CONTACT:

USA NEWS GROUP
info@usanewsgroup.com
(604) 265-2873

DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Scope Technologies Corp. advertising and digital media from the company directly. There may be 3rd parties who may have shares Scope Technologies Corp., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Scope Technologies Corp. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Scope Technologies Corp. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

View original content:https://www.prnewswire.com/news-releases/ransomware-costs-surge-as-quantum-computing-risks-loom-how-data-security-stocks-are-responding-302266057.html

SOURCE USA News Group

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iMarketKorea Signs Two MOUs with Vietnam’s Phu Tho Provincial People’s Committee and BIDV

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41 minutes ago

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April 27, 2026

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Participates in Korea-Vietnam Economic Delegation

Accelerates development of an industrial park in Phu Tho Province near Hanoi, while attracting advanced manufacturing companies and building a supply chain ecosystemPlans parallel development of an Inland Container Depot (ICD) to strengthen logistics competitivenessExpands discussions with Bank for Investment and Development of Vietnam (BIDV) on financial support measures and new business opportunities

HANOI, Vietnam and SEOUL, South Korea, April 27, 2026 /PRNewswire/ — iMarketKorea, a leading industrial materials distribution company led by CEO Kim Hak-jae, announced that it has signed two Memoranda of Understanding (MOUs) with the Phu Tho Provincial People’s Committee and Bank for Investment and Development of Vietnam during the MOU signing session at the Korea-Vietnam Business Forum, hosted by Korea’s Ministry of Trade, Industry and Energy and the Korea Chamber of Commerce and Industry. The company participated in the official Korea-Vietnam economic delegation.

As Vietnam’s investment environment continues to advance, cooperation in production infrastructure such as industrial parks has become increasingly important. Based on prior discussions with Phu Tho Province, iMarketKorea formalized this partnership through the latest agreements.

Located near Noi Bai International Airport, Phu Tho Province is emerging as a strategic logistics hub and an attractive production base for global companies. The province recorded 10.52% gross regional domestic product (GRDP) growth in 2025, ranking fourth among Vietnam’s provinces.

Through the agreement, iMarketKorea plans to develop a national industrial park in Phu Tho Province and actively attract global manufacturing companies. The company also aims to build a supply chain-driven industrial ecosystem by strengthening collaboration among related businesses centered around the industrial complex.

To enhance logistics competitiveness, iMarketKorea will also pursue the development of an Inland Container Depot (ICD) with bonded warehousing functions. An ICD is an inland logistics hub enabling customs clearance and cargo handling. When integrated with the industrial park, it is expected to improve import-export efficiency and strengthen the region’s attractiveness to manufacturers.

Kim Hak-jae, CEO of iMarketKorea, said, “This agreement establishes the foundation for integrated production and logistics infrastructure. Through cooperation with the Phu Tho provincial government and BIDV, we plan to establish a one-stop support system covering administration, finance, legal matters, and taxation. We will also create an environment where high-tech parts and materials companies can effectively utilize local incentives and gradually expand future cooperation.”

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/imarketkorea-signs-two-mous-with-vietnams-phu-tho-provincial-peoples-committee-and-bidv-302753801.html

SOURCE iMarketKorea

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Global Customers Are Taking a Closer Look at Focused Photonics Inc.

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41 minutes ago

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April 27, 2026

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HANGZHOU, China, April 24, 2026 /PRNewswire/ — For scientific instrument companies competing globally, differentiation increasingly depends on more than product specifications alone. Customers are looking beyond performance claims to assess whether a company can consistently translate technology into manufacturable products, proven applications, reliable delivery and long-term service support.

That shift was evident during Focused Photonics Inc.’s (FPI) Global Customer Experience Day 2026 in Hangzhou, where customers and partners from dozens of countries visited the company’s Qingshanhu Innovation Base, headquarters and live application sites. For many attendees, the event offered a closer look at how a China-headquartered scientific instrument company is building capabilities across R&D, manufacturing, systems integration and lifecycle support.

At Qingshanhu Innovation Base, visitors saw key stages of FPI’s operations firsthand, including engineering, precision manufacturing, system integration, testing and service readiness. For many international customers, these visits are less about viewing a production line and more about assessing execution: whether a supplier has the engineering discipline, manufacturing depth and support infrastructure required to deliver consistently in real operating environments.

This is becoming increasingly important across the industry. As customer expectations evolve, competition is moving beyond stand-alone instrument performance toward integrated solutions, automation, data integrity, compliance and lifecycle value. In industrial and environmental applications in particular, uptime, stability and workflow fit often matter as much as analytical capability.

At its global customer conference, FPI outlined how it is responding to that transition, highlighting continued investment across environmental monitoring, industrial process analysis, laboratory analysis and life science applications. The company is also expanding the role of digitalization, automation and AI to improve application readiness and solution delivery.

Application-focused exchanges during the event reinforced the same point. In discussions on environmental, industrial and laboratory scenarios, customers focused not only on performance metrics, but also on regulatory fit, workflow integration, long-term operation under complex conditions, and the ability of solutions to function reliably once deployed. These are increasingly central criteria in global purchasing decisions.

The clearest proof came from real-world settings. At the Hangzhou Ecological Environment Monitoring Center, visitors saw FPI’s automated water quality laboratory in operation, where sample handling, workflow continuity and data generation are integrated into day-to-day use. For customers, this offered a more concrete view of how a solution performs not just in demonstration, but in routine operation.

Taken together, the event underscored a broader industry reality: global competition in scientific instruments is increasingly defined not only by what a product can do, but by whether a company can manufacture it at scale, deploy it effectively, support it locally and sustain performance over time. That broader operational capability is becoming a decisive part of how international customers evaluate suppliers.

View original content:https://www.prnewswire.com/news-releases/global-customers-are-taking-a-closer-look-at-focused-photonics-inc-302753822.html

SOURCE Focused Photonics Inc.

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Straits Financial Services Pte Ltd Granted Overseas Intermediary Futures Broker Status by Shanghai Futures Exchange and Guangzhou Futures Exchange

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41 minutes ago

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April 27, 2026

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SINGAPORE, April 27, 2026 /PRNewswire/ — Straits Financial Services Pte Ltd (“SFSPL”), a member of Straits Financial Group, is pleased to announce that it has been granted overseas intermediary (OI) futures broker status by the Shanghai Futures Exchange (SHFE) and the Guangzhou Futures Exchange (GFEX).

This recognition marks an important milestone in expanding international access to China’s futures markets and further strengthens SFSPL’s ability to connect global investors with onshore opportunities.

As an overseas intermediary futures broker, SFSPL will be able to facilitate client access to selected products listed on SHFE and GFEX. The overseas intermediary model significantly lowers barriers to entry for international participants by removing the need for complex onshore structures and enabling more efficient cross-border access, while operating within China’s regulated market environment.

“As China’s futures market continues to open up, this recognition represents a meaningful milestone for both SFSPL and our clients,” said Roger Quek, Chief Executive Officer and Managing Director, Straits Financial Services Pte Ltd. “We are pleased to support international investors with more seamless access to China’s onshore derivatives market, while maintaining a strong focus on risk management, compliance, and execution efficiency.”

As China’s derivatives market continue to evolve, SFSPL is strongly positioned to support clients looking to deepen their involvement in this high-potential market.

SFSPL remains committed to delivering robust trading capabilities, seamless market access, and trusted expertise to help clients navigate global investment opportunities.

About Straits Financial Services Pte Ltd

At Straits Financial Services Pte Ltd, we distinguish ourselves by promoting key and innovative contracts to support the financial and commodity derivative markets as well as providing products and services to fulfill the needs of every trader.

With a strong presence in Asia and a deep understanding of the global markets, we provide value to our clients by enabling global access with a local perspective. Established in 2010, Straits Financial Services Pte Ltd is part of Straits Financial Group which is headquartered in Singapore.

Straits Financial Services Pte Ltd provides a fully-integrated service for our clients to access the financial and commodity derivative markets and we strive to build lasting relationships with our clients.

For more information, please visit our website at https://www.straitsfinancial.com.

This document is issued for information purposes only. This document is not intended and should not under any circumstances to be construed as an offer or solicitation to buy or sell, nor financial advice or recommendation in relation to any capital market product. All the information contained herein is based on publicly available information and has been obtained from sources that Straits Financial Services Pte Ltd believes to be reliable and correct at the time of publishing this document.

Straits Financial Services Pte Ltd will not be liable for any loss or damage of any kind (whether direct, indirect or consequential losses or other economic loss of any kind) suffered due to any omission, error, inaccuracy, incompleteness, or otherwise, any reliance on such information. Past performance or historical record of futures contracts, derivatives contracts, and commodities is not indicative of the future performance. The information in this document is subject to change without notice.

If after reading the foregoing content you have any doubts in relation thereto, please consult your own independent legal, financial and/or professional adviser.

View original content:https://www.prnewswire.com/apac/news-releases/straits-financial-services-pte-ltd-granted-overseas-intermediary-futures-broker-status-by-shanghai-futures-exchange-and-guangzhou-futures-exchange-302752994.html

SOURCE Straits Financial

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