Baltimore, Md. 12/05/2018 – QuantumXchange, a Womble Bond Dickinson client based in Bethesda, Md., earned considerable ink in the New York Times this week. The company is featured heavily in this article about the potential use of quantum physics to create encryption keys that cannot be broken without detection, a technology that could revolutionize encrypted communications and could be worth billions.
Our relationship with QuantumXchange began when John Prisco, a long-time client of Womble Bond Dickinson, became CEO of the company. Firm partner Dean Rutley advised Prisco on the sale of his prior company, Triumfant, which became famous for being the only anti-malware software to detect Chinese hackers’ intrusions into major organizations like the New York Times and the Washington Post. Prisco has now set his sights on solving the problem of creating an encryption strategy that ever-better computers simply cannot break.
Quantum encryption has been theorized for years, but was not viable for commercial purposes because it was unable to operate over long distances. Rutley and fellow firm partner Todd Harris advised QuantumXchange in the procurement of cutting-edge technologies from top research laboratories, along with the provisioning of long-haul segments of optical fiber to create the company’s encrypted network, the first of its kind anywhere in the world. As the Times explains:
“Like quantum computing, quantum encryption relies on the nonintuitive behavior of very small objects. The codes that keep data secret are sent by photons, the tiniest particle of light. With the right equipment it is easy to tell if they have been tampered with, not unlike the seal on an aspirin bottle. If carried out properly, the technique could be unbreakable."
Quantum Xchange is targeting Wall Street, telecoms and big banks. The company’s quantum encryption network currently stretches from Manhattan to Washington, DC, which it hopes to extend nationwide.
Our team currently serves as the company’s sole outside counsel and has represented it in all of its major legal needs. The team is:
- Corporate & Securities – Dean Rutley, Rajan Singh, Laura Wiley
- IP Licensing – Todd Harris
- Venture Finance – Dean Rutley, Brian Meltzer
- Real Estate – Julia Kreyskop, Whitney Smith
- Incentive Stock Plans – Jane Jeffries Jones, Janet Lowder
- Labor & Employment – John Pueschel
- Patents – Lester Vincent, Chris Hall