(EETAsia) A quantum chip developed in Singapore may offer a quantum security reprieve for financial institutions. The quantum chip offers the opportunity for implementing quantum cryptography methods in many financially-related systems. This new chip will improve the security context in the various communication methods, from the withdrawal of cash from the ATM to the purchase of goods online (figure 1). These are technologies that today are not very safe and whose communications can be intercepted. Only 3-4 mm wide, the chip uses quantum communication algorithms and provides a higher level of security than existing standards thanks to quantum key distribution (quantum key distribution, QKD).
Researchers at Nanyang Technological University in Singapore (NTU Singapore) led by Professor Liu Ai Qun of the NTU and associate professor Kwek Leong Chuan have developed a quantum chip 1,000 times smaller than current quantum configurations.
NTU’s New Quantum Chip May Improve Financial Security from the ATM to Online Purchases
