British Encryption Startup Arqit Overstates Its Prospects, Former Staff and Others Say

…Arqit says its encryption system can’t be broken by quantum computers, but former employees and people outside the company question the relevance of its technology…

…A U.K. cybersecurity startup rocketed to a multibillion-dollar valuation when it listed publicly last fall on the promise of making encryption technology that would protect the defense industry, corporations and consumers alike from the prying eyes of next-generation computer systems…

…But Arqit has given investors an overly optimistic view of its future revenue and the readiness and workability of its signature encryption system, according to former employees and other people familiar with the company, and documents viewed by The Wall Street Journal…

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