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    First EU country adopts quantum-resistant technology

    2024.03.15 | exchangesranking | 77onlookers
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    QANplatform’s quantum-resistant technology has been adopted by the first European country, according to a March 14 press release shared with Cointelegraph.

    QANplatform’s technology is used to protect against quantum computing attacks on government-owned cybersecurity infrastructure. The quantum-resistant blockchain enables developers to build smart contracts and applications that are resistant to quantum attacks. The name of the adopting country wasn’t disclosed, due to national security reasons.

    The integration of the QAN stack will serve as a key component in the country’s post-quantum cybersecurity layer, according to Patrick Storchenegger, the CEO of QAN’s Intellectual property holding company.

    “This will enhance the country’s strategic advantage in navigating the quantum leap by securing its operations.”

    Post-quantum security has seen increased interest since December 2023, when the second-largest quantum processor, IBM Condor, was launched with 1,121 qubits.

    Recognizing the impending threat of quantum computers, the European Commission launched the Quantum Flagship back in 2018, as a research initiative with a budget of at least €1 billion and a duration of 10 years.

    Large companies are also gearing up for a post-quantum future. Apple unveiled a new update in February that aims to future-proof iMessages with post-quantum cryptography, making Apple the first among a handful of quantum-proof messaging providers. Signal launched a “quantum-resistant” encryption upgrade in September 2023, but Apple says it’s the first to reach “level 3” encryption.

    While breaking current messaging encryption models is still considered unfeasible due to the amount of time and computing power required, the advancement of quantum computers will eventually make this possible.

    According to Johann Polecsak, the co-founder and CTO of QANplatform, it is important for cybersecurity protocols to stay ahead of the quantum computing curve. Polecsak wrote:

    “We must always be ahead of the curve when it comes to cybersecurity, especially in the era of ‘Store now, decrypt later.’ It is only a matter of time until quantum computers can break today's security algorithms. Recognizing this, we have built QANplatform from the ground up to be immune against quantum computer attacks.”

    QANplatform secured a $15 million investment from MBK Holding in December 2023 and will use the funds to enhance its quantum-resistant technology stack.

    Related: CoinShares acquires Valkyrie’s ETF business

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