Life Clips Enhances BelfricsBT Blockchain Security with
AVENTURA, Fla., Jan. 28, 2022 (GLOBE NEWSWIRE) — Life Clips, Inc. (OTC Pink: LCLP) (the “Company”) today announced that it has signed an agreement with Software Research Labs LLC providing an exclusive license to the XOTIC cryptographic system (XOR Transient Intelligent Cipher) to strengthen the security of the Belfrics blockchain. The license gives Belfrics the exclusive right to use XOTIC relating to blockchain applications.
XOTIC combines XOR encryption and One-Time-Pad (OTP) encryption with a Discrete Sequence Generator (a random number generator) to create a quantum-resistant cipher that encrypts and decrypts data in real time. Compared to the standard AES-256 encryption, XOTIC creates an encryption of equal length to the encrypted data. Additionally, ciphers are subject to brute force attacks, as invalid key attempts immediately signal unsuccessful decryption. With XOTIC, any key will report successful decryption – a “false positive” – but only the correct key will return the correct result, thus greatly reducing the attack surface and making XOTIC quantum computing resilient. Due to the randomness of XOTIC encryption and the fact that using the wrong key will provide a “false positive” result, a brute force attack is less likely to succeed.
XOTIC is covered by US patent number 10,892,889. By exclusively licensing Software Research Labs’ XOTIC patent for Blockchains, Belfrics seeks to be at the forefront of securing blockchain transaction data, protecting and securing their customers’ blockchain information and global transmission of their relevant data.
XOTIC encryption was developed and patented by Robert Coleridge. Mr. Coleridge has over 46 years of experience in software engineering and cryptography, and has worked for large enterprises in over 40 locations on 3 continents, including nearly 15 years at Microsoft as a senior software engineer. While at Microsoft, some of his research led to the development of the first version of the famous SOAP toolkit, which pioneered web services for Microsoft in 1999.
Regarding the licensing of the XOTIC process by BelfricsBT, Robert Coleridge of Software Research Labs said: “The XOTIC patent, which defines a unique and highly secure process, applies not only to securing user data, such as blockchain transactions , but also to other data, which would be transmitted between the terminals. The process used by the XOTIC patent provides quantum-resistant encryption, as well as future-proofing as quantum computers evolve. Mr. Coleridge continued, “Software Research Labs looks forward to working with Belfrics and their highly talented software development team to implement XOTIC into their blockchain technology and customer base.
CEO and Founder of Belfrics, Praveen Kumar, said, “As a cryptocurrency exchange and blockchain provider, protecting our customers’ assets and data is paramount to our success. Our users expect us to have the most advanced security to protect their data, and with XOTIC we provide security unavailable on other exchanges and blockchains.
Robert Grinberg, CEO of Life Clips, said, “In today’s digital world, we need to rethink our concept of robust cybersecurity and develop a proactive approach to cyber risk and threat management. As businesses around the world look for ways to reduce the number of cyber intrusions, we hope to provide a more effective approach to the problem.”
Life Clips is the parent company of Belfrics Global and Cognitive Apps Software Solutions Inc. Belfrics Global is a Malaysian blockchain and cryptocurrency exchange and platform provider that is authorized and regulated by the Labuan Financial Services Authority ( LFSA), Malaysia. With 10 operational offices in 8 countries, Belfrics’ multi-function trading platform offers digital assets, cryptocurrencies and crypto derivative contracts to its clients. The Belfrics blockchain has been recognized by Gartner as one of the top 10 blockchains in terms of actual projects and has been awarded a patent for its Belrium KYC Verification System (BKVS) by the Nigerian Patent Authority. Cognitive Apps is disrupting the mental health space with its speech-based, AI-powered mental health analytics platform that enables companies to measure, understand and improve mental wellbeing of their employees, patients and customers. Aiki offers CBT and IPT therapies using a chatbot that includes the voice analysis solution that takes into account other health data from Apple and Google HealthKit to perform a more accurate analysis of his mental health . Aiki was developed to capitalize on the trend towards artificial intelligence platforms being used by individuals and businesses to raise awareness about employee mental health. Cognitive Apps is developed by a team of licensed psychotherapists who use voice biomarkers to screen for early signs of mental health issues, such as stress and depression. Aiki is available on the Apple App Store.
For more information on Life Clips, visit www.lifeclips.com
For more information on Belfrics Global, visit www.belfricsgroup.com
For more information on cognitive apps software solutions, visit https://cogapps.com
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