Question: What observation or trend has Quantum Xchange witnessed that would sum up the first half of 2023?
Answer: Buyer attitudes have changed from the “quantum curious” to the “quantum interested.”
This inflection point is likely spurred by the highly anticipated Post-Quantum Cryptographic (PQC) standard nearing finalization, expected to be published by the National Institute of Standards and Technology (NIST) in 2024, and the agency’s ardent recommendations that organizations begin their cryptographic discovery, inventory, and risk remediation planning now.
As an early innovator in the quantum security market – first as a quantum network provider, then as the maker of Phio Trusted Xchange (TX), the industry’s most agile, quantum-safe, cryptographic management platform – Quantum Xchange has built its reputation on meeting the customer where they are. We’re incredibly proud of our history and commitment to continuous product innovation. Other notable kudos from the first-half of the year follow:
New Product Offering to Manage Cryptographic Risk
2023 has seen the introduction of CipherInsights™, a network monitoring, cryptographic discovery, and risk assessment tool. NIST and industry experts agree: understanding when, where, and how outdated cryptographic protocols are used throughout the enterprise is a critical first step in an organization’s inevitable, multiyear cryptographic transition – replacing legacy encryption with PQCs.
Quantum-Safe VPN Interest Surges
With the rise of work-from-anywhere, software defined networking, and networking-as-a-service, the Phio TX Model D (Phio TX-D) edge device has been well received since its market introduction in April 2021. Designed to deliver quantum-safe connectivity to branch offices, Phio TX-D shipments are up in 2023 illustrating the company’s ability to deliver technologies that can easily scale to meet the budgetary and network security needs of any sized organization.
The flexibility and interoperability offered by Phio TX, and the Model D, has made it a popular companion technology to traditional SD-WAN hardware, bringing immediate quantum-safety to any data link, interconnect, or VPN tunnel. As a result, Phio TX integrated with Fortinet SD-WAN deployments have increased four-fold in 2023 and cloud to data center interconnects using Phio TX-C have doubled.
Partners at Home and Abroad
In February, Quantum Xchange launched the Phio Partner Program (P3) aimed at managed connectivity providers, networking-as-a-service vendors, and other value-added resellers (VARs) and service providers catering the network infrastructure market. Since then, enrollment has tripled, with more than half coming from European-based service providers.
Industry Awards and Accolades
With a heavy, strategic focus on the managed connectivity and networking-as-a-service market, Quantum Xchange’s Phio TX was awarded a 2023 INTERNET TELEPHONY SD-WAN Product of the Year Award and was accepted into the Telecom Council’s Innovation Showcase Class of 2023, an elite list of young companies who represent the cutting edge of communication innovation and the future of the industry.
The company was also named a winner of the 2023 World Future Awards in the category of Best Enterprise Data Security Solutions, placing it among a group of forward-thinking industry leaders who are delivering the products, software, and services that will transform the global economy and define the future landscape.
We’re excited to see what the second half of 2023 will bring as we press onward working tirelessly to define and lead the quantum-safe, enterprise cryptographic management market.