Or quantum computing or quantum encryption.
Photo by Ivan Bandura on Unsplash
Countries and startups around the world are investing hundreds of billions of dollars in quantum computing, says quantum security startup CEO James Nguyen. And while there are many breakthroughs in quantum computing technology – new medical treatments just one thing – the problem is that for a fully functional quantum computer, all of our current cryptographic security could be as fluid as using “password123” for your bank account.
That means $ 100 trillion could be at risk by 2025.
“The World Economic Forum has already stated that by 2025 … the digital economy will be worth one hundred trillion dollars,” Ngyuyen told me recently on the TechFirst podcast. “And … everything we work with today is important to us, such as our memories, our financial assets, our legacy, or even our weapons … the internet is controlled anything that we deal with in sets of information …. ”
IBM Quantum Pioneer arsa Quantum computing creates a new exposure risk because quantum computers can quickly solve the complex mathematical problems that underlie modern security. These problems solidify our bank accounts and nuclear weapons, and while classic supercomputers could take thousands of years to solve, IBM says a large quantum computer could solve them in hours or days. There are already other computer giants like Microsoft hard at work on post-quantum encryption. And Google is on it said that quantum computing could “complete encryption” within five years.
Ngyuyen says the threat is already here, especially since Russia and China are the two countries investing the most in quantum computing investment, and whatever the exact timeline. In all, all groups must be “ready for quantum.”
He also says he has a head start in Canada, Quantropy, he has the answer.
“We developed the world’s first cloud-based platform for digital quantum key distribution over the internet,” Ngyuyen says. “We have been able to prove – in partnership with McGill – that we are one hundred thousand times faster than existing quantum circulation systems. ”
According to Ngyuyen, Quantropi’s solution is something like an attraction level for quantum security that banks and digital retailers and armed groups can integrate into their systems without the need for their own quantum computers on site. Basically, it is software with the heart of a quantum algorithm that can be implemented in quantum computers as well as classical computers. Quantropi says that while many companies can generate very robust quantum entropy – random numbers – it has not been possible for a person to distribute this efficiently at high speeds over the existing infrastructure.
In other words, over the internet.
This is basically quantum security like a cloud service, at gigabits per second.
Quantropi’s solution uses a quantum random number generator from Quintessence Labs out of Australia, then streams quantum encryption to messengers through a process called company QEEP: quantum entropy expansion and multiplication. The result is “perfect secrecy” in key coding, according to a presentation made by the company at a recent IEEE quantum event.
In fact, many companies say they have the right solution for security, and apparently, everyone will be swept away sooner or later.
Ngyuyen says Quantropi works in closed beta with Fortune 100 companies as well as showcasing and testing its technology in universities like McGill. The company has several patents with more than ten distinct, he said, and was recommended by the National Audit Council of Canada to be the nominee for the Inaugural Science of the Year.
Quantropi’s final solution or not is yet to be seen. But repairing security in the age of quantum computing is almost unbelievable.
Because a working quantum computer that can crack high-quality encryption in the hands of bad actors would make the Solar Winds mama hack look like a script kiddie.
“[Quantum computing] weakening and breaking today’s PKI encryption, ”says Ngyuyen. “And if a criminal basically got a quantum computer for bad reasons … you can literally start wars. You can literally empty people’s bank accounts … steal people’s identities … everything we believe in or, you know, important to us, is about to be broken. ”
Get the full interview on the TechFirst podcast.