Quantum News Briefs July 29: Quantum Economic Development Consortium (QED-C) releases new report: Quantum Technology for Securing Financial Messaging • Toshiba invests in quantum investment fund Quantonation II • NTU Singapore sets up new quantum cybersecurity research programme with gift from the Dieter Schwarz Foundation • Over $7.4 Million Awarded to Canada’s INRS for quantum technology projects
News Releases:
Quantum Economic Development Consortium (QED-C) releases new report: Quantum Technology for Securing Financial Messaging
The Quantum Economic Development Consortium (QED-C), the world’s premier association of pioneers in quantum technology, today released the report Quantum Technology for Securing Financial Messaging that explores the potential impact of quantum computing, networking and communications in the financial sector as per the news release.
This new report assesses quantum-resistant technologies and provides guidance on strategies for achieving security across the sector. A link to the Summary is here.
In February 2024, 48 stakeholders from finance, quantum technology, government, and academia, including leaders from Accenture, ID Quantique, and others, participated in a workshop held by the QED-C Use Cases Technical Advisory Committee (TAC). During the workshop, participants identified high-feasibility, high-impact use cases for applying quantum-resistant technologies that include more secure cross-border transactions, security-enabling physical infrastructure, third-party validation of financial institutions’ quantum security posture, post-quantum transport layer security, and quantum communications service providers.
The report includes actionable insights for minimizing risks posed by the harvest now, decrypt later threat, combining technologies that increase security, and utilizing third-party service providers to help ensure timely risk mitigation by smaller institutions.
Toshiba invests in quantum investment fund Quantonation II
Toshiba will make a corporate venture capital investment in Quantonation II, a fund operated by Quantonation Ventures, a leading quantum technology investment fund based in Europe and the US. Toshiba has committed to invest in Quantonation II, with the aim of accelerating research and development of quantum technology and advancing the practical application of quantum-based services through collaboration with Quantonation and the companies in its portfolio according to a July 26 announcement on Toshiba’s website.
Established in 2018, Quantonation is one of the world’s largest venture capital funds specializing in quantum technology. It invests globally and has already launched its first fund, Quantonation I, with investments totaling €91 million across 27 startup companies, including global leader in neutral atoms computing, Pasqal and Computer Aided Drug Discovery company, Qubit Pharmaceuticals.
Quantonation and Toshiba believe this partnership will benefit Toshiba as well as Quantonation’s current and future portfolio companies in respect of technology development, market access and business development, especially in Japan, a significant market for Quantonation and its portfolio companies.
NTU Singapore sets up new quantum cybersecurity research programme with gift from the Dieter Schwarz Foundation
Nanyang Technological University (NTU) is setting up a new research programme to strengthen cybersecurity in a post-quantum world, where advancements in quantum computing pose a looming threat to conventional encryption algorithms according to July 24 news announcement.
The Quantum Sovereignty and Resilience (QUASAR) programme is enabled by a gift from the Dieter Schwarz Foundation, a German non-profit charitable foundation. NTU will collaborate with the Technical University of Munich (TUM) on this programme and is also strengthening its existing collaboration with TUM with the signing of a Flagship Partnership.
Led by NTU’s School of Electrical and Electronic Engineering, QUASAR aims to address quantum-based cyberthreats by examining how quantum technologies can be used in encryption, building quantum-safe systems, and ensuring the safety of future Internet of Things and 5G devices.
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Over $7.4 Million Awarded to Canada’s INRS for quantum technology projects
Three promising projects led by Canada’s INRS (Institut National de la recherche scientifique) professors will receive $7.4 million in funding over the next few years for projects using quantum technology as per the news release July 24. These initiatives aim to enhance quantum communication, computing, and sensing capabilities by integrating photonics and quantum technologies.
The projects, all of which are university-industry partnerships, will be funded by the Natural Sciences and Engineering Research Council of Canada (NSERC) through its Alliance Advantage grants program.
Alliance Advantage grants support initiatives that involve collaboration between academia and partner organizations in the private, public, or non-profit sectors. The purpose of these partnerships is to quickly find impactful applications for researchers’ discoveries with real, tangible benefits for Canada.
