Leonovus Announces Torozo
OTTAWA, Jan. 13, 2022 (GLOBE NEWSWIRE) -- Torozo, a hyper-secure, cloud-based file storage, sharing and transfer space will be launched next month by Leonovus Inc. (TSXV: LTV) with individuals, teams and organizations able to pre-register now and save 50 percent on their first year subscription. Critical data is ultra-protected with Torozo’s FIPS 140-2 compliant cryptography and our patented encrypt, shred, and spread technology that encrypts and shreds your files and distributes them across a range of cloud storage providers with a dirt-simple user interface.
According to Market Research Future, the global file-sharing market is currently more than $4B. With a compound annual growth rate of 26 percent, it will be more than $8B by 2025. The secure file sharing segment of this market will grow to $3B by 2025, according to Arizton Advisory and Intelligence. Torozo caters to this explosive growth in demand for hyper-secure file storage, file sharing and file transfer.
Because of COVID and other market forces, the demand for secure file-transfer solutions has dramatically increased. Organizations in IT, healthcare, legal, software development, government and education sectors have expanded online business operations with employees working from home. The massive growth of remote working has increased the demand for secure file-transfer solutions, preventing data leakages and information breaches. New technologies such as AI, big data, and IoT will drive the adoption of secure file-transfer solutions, like Torozo, as more and more data is pushed to the edge.
The enormous new NFT market is also an ideal target market. Torozo can store and protect the actual, off-chain, digital asset connected to the NFT and the owner’s crypto-identity. There is a massive opportunity for Torozo also to back up cryptocurrency hard and soft wallets. Over 20 percent of all Bitcoin has been lost due to lost keys and passwords, and even a hard wallet can become defective or be lost. Torozo provides a hyper-secure backup.
“Torozo evolved out of our Vault, Smart Filer and XVault technology, with influence from the secure data-sharing requirements of the federal government where we continue to pursue major contracts,” said Michael Gaffney, Chair and CEO, Leonovus Inc.
“Our vision is to be recognized as the world’s most secure file storage, sharing and transfer solution,” said Gaffney.
About Torozo and Hyper-Secure Data Storage, Sharing and Transfer
Torozo will launch next month with full end to end encryption followed in a few weeks with our encrypt, shred, and spread technology, which refers to our unique, proprietary, and ultra-secure, file distribution. Unlike many file-sharing services, Torozo’s encryption is certified FIPS140-2 compliant by NIST. Torozo will become even more secure with addition of asymmetric cryptography later in Q2 0222.
Leonovus is a software provider that offers solutions that untether and manage your data, allowing you to embrace the cloud securely, simply and cost-effectively while giving you the flexibility to deal with an ever-evolving cloud landscape.
This press release may contain forward-looking statements and information, which may involve risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors that might cause a difference include, but are not limited to, competitive developments, risks associated with Leonovus’s growth, the state of the financial markets, regulatory risks and other factors. There can be no assurance or guarantees that any statements of forward-looking information contained in this release will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral statements containing forward-looking information are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Unless otherwise required by applicable securities laws, Leonovus disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers should not place undue reliance on any statements of forward-looking information that speak only as of the date of this release. Further information on Leonovus’s public filings, including its most recent audited consolidated financial statements, are available at www.sedar.com.
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