Life Clips gets exclusive license for XOTIC cryptographic system

Life Clips (OTCPK:LCLP), parent firm of cryptocurrency exchange Belfrics Global, signs a deal with Software Research Labs providing an exclusive license for the XOTIC cryptographic system to enhance the security of the Belfrics blockchain. The license gives Belfrics the exclusive right to use XOTIC (XOR Transient Intelligent Cipher) relating to blockchain applications. XOTIC combines a XOR cipher and One-Time-Pad cipher with a a random number generator to create a quantum-resistant cipher that encrypts and decrypts data in real-time. “Our users expect that we have the most advanced security protecting their data, and with XOTIC we are providing security unavailable on other exchanges and blockchains,” said Belfrics CEO Praveen Kumar.