Bloomberg Interview with IQT Founder & President Lawrence Gasman Addresses Quantum Encryption

(BloombergRadio) Lawrence Gasman, Founder & President of Inside Quantum Technology, was recently interviewed by Bloomberg Radio about quantum technology.
Gasman introduced the discussion by explaining that “quantum technology is a ‘catchall phrase’ for a class of technologies based on quantum theory. More recently, quantum information theory using quantum information theory is guiding the use of qubits to store information.”
Quantum computing is a new class of technology and “just getting going” said Gasman. He pointed out that quantum computers more effective and useful than classical computers, although not on our desktops. He pointed out that today’s quantum computers are similar to supercomputers in big institutions.
Quantum computing is being developed today by major, recognized technology companies as Google, Microsoft and IBM. More recent entrants are Regatti and D-Wave from Canada. Gasman reflected that “New announcements in the field are being made pretty much every week.”
The discussion then turned to quantum encryption and encryption security.
Gasman explained that data encryption means “Mixing up data so you can’t get to my data.” The need for security is very important in finance, healthcare, the military and government. While encryption schemes in last 15-20 years have been effective, quantum computing will bring enough power to break current quantum encryption systems. Although it’s not been built yet, the quantum computer of the future will be able to break current cryptography in an hour or two. However, Gasman cautioned, it may take ten years to get to that level of power in quantum technology. He said, “The current impetus is to encrypt things in certain ways to prevent quantum computers from hacking”.
There are two kinds of encryption, explained Gasman, “Pretty much the way we do now–make it similar to now but more difficult”.
The second way is quantum key distribution (QKD) –using quantum tech to make the keys so vulnerable that the keys disappear when you try to break in since quantum states are so delicate they break down easily.
The two companies leading the QKD initiative are Toshiba and IDQuantique from Switzerland. Others such as Raytheon and IBM are involved in QKD as well as lots & lots of very small startups.