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Quantum cryptography is a secure communication system that leverages the principles of quantum mechanics to provide secure and confidential communication. It works by using quantum particles, such as photons, to create a secure key.
This key is the only thing that can be used to encrypt and decrypt the data sent between two parties. The key is generated randomly and can only be used once, so it is impossible for an eavesdropper to intercept the key and gain access to the data. The key is also destroyed after it has been used, ensuring that the data remains secure.
Quantum cryptography is beneficial because it is more secure than traditional cryptography. It eliminates the possibility of an eavesdropper intercepting the key and obtaining access to the data, as the key is destroyed after it has been used.
Additionally, quantum cryptography makes it harder for attackers to guess the key. With traditional cryptography, attackers can use brute force attacks to try and guess the key, but with quantum cryptography, the randomness of the key means that it is much more difficult for attackers to guess the key.
Quantum cryptography is becoming increasingly popular for use in a variety of applications, such as banking, secure messaging, and secure data transfer.
It is also being used in the military and government to keep sensitive information secure. As more organizations move to adopt quantum cryptography, it is likely to become an increasingly important tool for secure communication.
The Global Quantum cryptography system market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
Quantum cryptography is an emerging technology that promises to revolutionize the security of communication networks. Quantum cryptography, also known as quantum key distribution (QKD), uses the principles of quantum mechanics to generate, distribute, and validate encryption keys.
The technology works by sending a series of photons, or particles of light, between two points. The photons are sent in a special way so that any attempt to intercept the message will cause the photons to be changed, thus alerting the sender and receiver of the interception.
Over the past few years, several companies have launched products and services based on quantum cryptography. ID Quantique, a Swiss company, was the first to market a commercial quantum cryptography system in 2004.
Since then, several other companies, such as MagiQ Technologies, Quintessence Labs, and PQ Solutions, have developed their own quantum cryptography products.
These companies provide a range of quantum cryptography solutions, from hardware-based systems for enterprise networks to software-based solutions for mobile devices.
In addition, there are a number of research efforts underway to develop more advanced quantum cryptography systems. For example, a team from the University of Bristol is working on a system that uses a network of entangled photons to create a more secure communication channel.
Meanwhile, IBM is researching ways to use quantum computing to increase the security of quantum cryptography.
Overall, quantum cryptography is an exciting technology that has the potential to revolutionize the security of communication networks. With more companies launching products and services based on quantum cryptography, we can expect to see increased adoption of this technology in the near future.
Post-Quantum Cryptography Assessment Guidelines Are Being Launched by X9. Data must be shielded from attacks by both quantum and classical computers in a post-quantum world.
The next generation of cryptographic algorithms, known as post-quantum cryptography, was created to safeguard data against attacks from both quantum and classical computers.
The shift from existing cryptography to PQC is a difficult process that calls for preparation, strategy, and resources. Understanding the present cryptography used by a corporation is one of the first things that should be done in order to determine whether software and hardware will need to be changed or modified to use post-quantum encryption.
A set of criteria will be used as part of the assessment in the technical report to help determine which regions will need to be upgraded to PQC. The project planning efforts can then begin with a focus on the work that needs to be done because this evaluation will offer the preliminary data required to identify systems employing old cryptography.
The new technical paper will expand on earlier X9 work items relating to quantum that were created. The banking sector and X9 standards will both be impacted by the cryptography move to PQC algorithms. Finding X9 standards that need to be modified to include PQC is one of the steps in developing the assessment guidelines.
For the following phases of the PQC transition, the guidelines will serve as a road map.When finished, the X9 guidelines may be used by an organisation as a tool for self-evaluation, as a loose evaluation of a third-party service provider, or as an independent evaluation by a certified information security professional.
These evaluation rules may be cited by an auditor or regulator. The recommendations may also serve as the cornerstone for standardising crypto agility.
In order to get ready for the arrival of quantum computing and its ramifications, it becomes clear that the entire financial services sector—including financial institutions, regional banks, credit unions, and retail merchants—as well as service providers, cloud providers, and mobile operators—will need to make the switch to PQC algorithms, and possibly alternative key management techniques.
Prior to the start of transitions, it will be crucial to have PQC evaluation guidelines available to ensure uniformity, which will make the process go as smoothly as possible and produce the best results.
