Enam, I think we're going to beat this horse to death. It appears to me that unless Jaws is tested by someone who you like, you will always cast doubt on the validity of the product. So be it. Jaws enlisted the evaluation arm of SNC Lavalin (Kilborn) to test the product. This is not a rinky dink company. It may not have same clout as Bruce Schneier's company, but the report that they produced was good enough for an insurance company to put up the $5M required for the challenge. I have already told you that one of the reasons that Jaws has not gone to Mr. Schneier for an evaluation is that he wants $50,000 to do it and Jaws wasn't convinced that the report wouldn't be prejudicial - considering his involvement in Blowfish, etc.
As far as the $5M challenge was concerned, of course it was a marketing ploy - a door opener, if you will. I don't see what's wrong with that - they still have to prove themselves to any company that agrees to talk with them. Let's face it - this was a small company with an encryption product that somehow had to set themselves apart from the others. So they ran a contest using a "statistically unbreakable" code. By doing so, they generated a lot of leads that should turn into bona fide contracts.
Let's talk about Jaws being "statistically unbreakable". You indicated that 56 bit would take 3M years to break with current technology. BTW, each additional bit doubles the time. So wouldn't you agree that 4096 bit is "statistically unbreakable"?
Is 4096 bit overkill today? Of course it is, but again, what's wrong with a little marketing hype to help differentiate your product? If it gets them in the door, then great, but they still have to sell the product once they're there.
Jaws has also been able to attract 2 top notch active board members, Julia Johnson and Art Wong. Why would Art Wong, who has an extensive security software background, agree to help Jaws unless he thought that the product passed muster? Oh, I'm sure that there's some money involved, but he is a director at NETA and I think that his reputation is worth more to him than the few bucks he might be getting out of Jaws. And Julia Johnson - have you read her bio? She has set up numerous meetings for Jaws, ones that I'm confident will result in contracts.
The following is from the Website.
JAWS L5 DATA ENCRYPTION is Strong
Thanks to the JAWS L5 algorithm's statistically unbreakable 4096 bit key, the safety of your most valued data files is ensured. For security-conscious users, the Professional Edition offers the strongest encryption capabilities currently available.
JAWS L5 DATA ENCRYPTION is Fast
With a mere click of a button, JAWS L5 instantly encrypts and decrypts files stored on any hard-drive accessed through your PC. For example, the 4096 bit key can encrypt a 1 megabyte file (the size of a digital image or a book-length text-file) in 1.15 seconds.
JAWS L5 DATA ENCRYPTION is Compact
Unlike other encryption software products, the size of the JAWS L5 file scarcely leaves a footprint on your computing device. It can also provide even more room on your hard drive when encrypted files replace originals in the same location.
JAWS L5 DATA ENCRYPTION is Easy-To-Use
In a matter of minutes, users can download and register the JAWS L5 file to a Windows 98/95/NT workstation. Simply follow the step-by-step installation procedures included in the software for a quick, hassle-free start-up. After that, file encryption is a breeze - even for the most inexperienced user! The single-button encrypt/decrypt feature lets you protect your valued files effortlessly and without technical expertise.
Enam, the proof will be if they get contracts. The "hype" that you seem concerned with has not done a thing for the stock price, otherwise we would be sitting in the $2-$3 range.
Barrie Einarson
bbruin@home.com
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