Quantum Computing (QC) will deliver massive computing power
- QC power – The invention of Quantum Computing has started a revolution in how computers do their processing. Quantum physics and behavior is the basis for the reason the processing power of these new computers are so much higher than current systems – by many orders of magnitude more.
- The power offered by QC allows the hackers to be able to break digital encryption very fast. What would take current computers to process in hundreds of years will be done in a few seconds using QC.
- This amount processing power makes all encrypted data vulnerable, meaning all our current systems that use encryption can easily be made useless and open to hackers with QC. Part of the problem is that all encryptions inherently carry the cipher key in them, which means with QC power they can be broken and obtained.
- For the past few years many major IT companies have been developing better and faster QC and are currently in a race to deliver powerful QC for their own use and their client’s use.
- Federal Reserve reports state that in their experts’ estimation large QC systems will become available in less than 5 years. They further indicate that it will take about 10 years to upgrade the fintech infrastructure to be able to handle QC and the speed of their transactions. This means that the issuing banks are already too late for the arrival of QC.
Vality Platform is Quantum Computing Safe
- The patented technology used by Vality in the development of its products is based on Quantum Randomness.
- Basing the technology on Quantum Randomness means that no keys are needed, there is no encrypted data and therefore there are no inherent keys in the data to be broken. There are only a pair of random numbers that are not generated in relation to each other therefore there is nothing to break. In addition, the random numbers can be refreshed dynamically as often as necessary.
- The Vality platform software is based on the Quantum Randomness and is QC Safe. For issuers who are trying to combat today’s fraud problems, deploying Vality platform affords them not only to block transactional fraud but also to be ready for the onslaught of the coming QC attacks.