SAN JOSE, Calif. - Zoom Video Communications , Inc. (NASDAQ: NASDAQ:ZM) today announced the global availability of post-quantum end-to-end encryption (E2EE) for its Zoom Meetings within the Zoom Workplace platform. This enhancement positions Zoom as the first unified communications as a service (UCaaS) provider to implement a post-quantum E2EE solution for video conferencing.
The initiative by Zoom comes in response to the increasing sophistication of adversarial threats and the potential future risk of encrypted data being compromised by quantum computing. The company's preemptive upgrade to its encryption algorithms is designed to withstand such future threats, even though quantum computers capable of breaking current encryption are not yet generally available.
Zoom's chief information security officer, Michael Adams, emphasized the importance of security for the company's customers, stating that the adoption of E2EE since its initial release for Zoom Meetings in 2020 has been significant. The deployment of post-quantum E2EE is a reflection of Zoom's commitment to enhancing user data protection and staying ahead of the evolving security threat landscape.
The new encryption method utilizes Kyber 768, an algorithm that is in the process of being standardized by the National Institute of Standards and Technology (NIST) as part of its FIPS 203 guidelines. This algorithm is specifically designed to defend against "harvest now, decrypt later" attacks, where attackers capture encrypted data with the intent to decrypt it once more advanced quantum computing becomes available.
In practice, post-quantum E2EE ensures that only meeting participants have access to the encryption keys necessary for encrypting the meeting, similar to standard E2EE. Zoom's servers do not possess the decryption keys, rendering the encrypted data passing through them indecipherable.
Zoom, founded in 2011 and headquartered in San Jose, California, continues to expand its platform. The company's suite includes various collaboration tools, and the introduction of post-quantum E2EE adds another layer of security for its users.
The information regarding this new security feature is based on a press release statement from Zoom.
InvestingPro Insights
As Zoom Video Communications, Inc. (NASDAQ: ZM) leads the way in secure communications with its new post-quantum end-to-end encryption, the company's financial health and market performance provide additional context for investors. With a robust market capitalization of 19.9 billion USD, Zoom demonstrates significant presence in the industry. Reflecting on its financial stability, one of the InvestingPro Tips highlights that Zoom holds more cash than debt on its balance sheet, which can be a reassuring signal for investors concerned about the company's ability to invest in advanced security measures like the post-quantum E2EE.
Zoom's commitment to innovation and security is also mirrored in its impressive gross profit margins, which stood at 76.33% over the last twelve months as of Q1 2023. This figure not only underscores the company's ability to manage costs effectively but also its potential to reinvest in its platform and maintain its competitive edge. Another InvestingPro Tip points out that analysts predict the company will be profitable this year, which is an encouraging sign for potential investors. Moreover, the company has been profitable over the last twelve months, reinforcing its financial credibility.
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