The renowned U.S. bank J.P. Morgan Chase has announced its research endeavors on a quantum key distribution (QKD) blockchain network immune to quantum computing attacks. QKD uses cryptography and quantum mechanics to allow two parties to exchange data securely while defending and detecting against invasive third parties. This secure technology is a perfect tool for preventing blockchain hacks.
One report states that J.P. Morgan is collaborating with Cigna and Toshiba to test the QKD blockchain. The announcement reads, “At this time, QKD is the only solution that has been mathematically proven to defend against a potential quantum computing-based attack, with security guarantees based on the laws of quantum physics.”
According to the report, the study has significant results after being tested in metropolitan areas and was “capable of supporting 800 Gbps data rates for mission-critical applications under real-world environmental conditions.”
The report continues by stating, “The proof of concept network infrastructure relied on Toshiba’s Multiplexed QKD System, manufactured by Toshiba Europe at their Cambridge UK base, and Ciena’s Waveserver 5 platform, equipped with 800 Gbps optical-layer encryption and open APIs running over Ciena’s 6500 photonic solutions.”
As J.P. Morgan continues its technological innovations, Cointelegraph officially announced J.P. Morgan the first bank to launch in the metaverse. Within Decentraland (a crypto-backed virtual world), J.P. Morgan now has a virtual lounge that seems bullish.