A team of quantum computing engineers from JPMorgan Chase & Co, Toshiba Corp and Ciena Corp claim to have successfully demonstrated that a newly developed powerful encryption network can be used to protect communications on the blockchain.
The group of researchers claims that it is the first time that a quantum key distribution network (QKD), a super-secure two-way communication network powered by quantum physics, has been tested as a way to protect the blockchain from computing attacks. quantum.
Quantum computers, which can process information and calculations at a radically faster rate than classical computers, are still in the development phase, so experts say quantum computing cyber-attacks are still a few years away.
Yet the threat they pose is so great that researchers like those at JPMorgan are looking for ways to protect banking systems now.
“Safety is paramount for JPMorgan Chase. This work comes as we continue to prepare for the introduction of production-grade quantum computers, which will change the security landscape of technologies such as blockchain and cryptocurrency in the near future,” said Marco Pistoia, director of the Future Lab for Applied Research group. and Engineering of JPMorgan and one of those responsible for the investigation.
JPMorgan has been a proponent of blockchain technology for use in the financial system, with the bank launching its own digital currency called JPM Coin in 2019.
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