Encryption Software Market to cross USD 20 Bn by 2026: Global Market Insights, Inc. – Yahoo Finance

The email encryption software market segment is expected to cover more than 25% industry share in 2026 due to the rising uptake of security software to protect data from malware, identity thefts and phishing.

Selbyville, Delaware, Jan. 08, 2020 (GLOBE NEWSWIRE) --

Global Market Insights, Inc. has recently added a new report on encryption software market which estimates the global market valuation for encryption software will cross US$ 20 billion by 2026. The industry growth is attributed to supportive government initiatives to combat cybercrimes and the rising instances of data breaches globally. The growing implementation of disk, email, and mobile encryption capabilities in security suites provided by the cybersecurity vendors to address the evolving threats will augment market growth.

The email encryption software market is expected to hold a share of over 25% in 2026 due to the rising uptake of security software to protect data from malware, identity thefts, and phishing. As email is one of the widely used communication methods used by enterprises, the demand for email data protection software to secure various aspects of email systems including content, media attachments or email access increases. The software encrypts data in transit and at rest and also supports multi-factor authentication for additional security, ensuring that sensitive information is always protected in line with regulatory compliance.

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The on-premise deployment model segment held over 70% of the market share in 2019 and is projected to maintain a dominant position over the forecast timeline. The enterprises prefer an on-premise deployment model approach due to the high security associated with managing sensitive data in-house and gain access to cryptography keys for enhanced security. However, with the growing popularity of cloud platforms to store enterprise data due to high scalability and cost benefits, the demand for cloud-based encryption software is expected to accelerate over the forecast timeline.

The retail sector will also observe the heavy uptake of encryption over the projected timeframe owing to the need to protect customer data throughout a retailers operations. The sector is witnessing a huge usage of third-party services to support online transactions, optimizing customer experience on their websites. This has led to a rise in the number of data breaches, exploiting sensitive customer information such as credit card & bank account details and personal credentials. According to a report published by Thales eSecurity, a cybersecurity provider, around 75% of the U.S. retailers have experienced a breach in 2018 as compared to 52% in 2017, exceeding the global average. The demand for cybersecurity solutions will rise significantly from 2020 to 2026, preventing theft & customer information compromise.

Browse key industry insights spread across 260 pages with 269 market data tables and 26 figures & charts from the report, Encryption Software Market Size, By Component (Software [Endpoint Encryption, Email Encryption, Cloud Encryption], Service [Training & Consulting, Integration & Maintenance, Managed Service]), By Deployment Model (On-Premise, Cloud), By Application (IT & Telecom, BFSI, Healthcare, Retail, Government & Public Sector, Manufacturing), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 2026 in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/encryption-software-market

Latin America encryption software market is expected to grow at a CAGR of over 18% from 2020 to 2026 due to the rising number of cyberattacks on the business-critical infrastructure, growing usage of digital platforms among enterprises to conduct business transactions, and supportive government initiatives to promote cybersecurity. The rapidly evolving threat landscape has compelled public & private enterprises to promote digital security to safeguard sensitive business information. The government agencies in the countries including Mexico, Brazil, and Argentina are introducing cybersecurity strategies to respond to a wide array of cyberattacks.

Story continues

Some major findings of the encryption software market report include:

The competition in the encryption software market is characterized by strategic partnerships, new product launches, and geographic expansion. For instance, in November 2019, Sophos partnered with Telefonica UK (O2) to provide its products & services to Telefonicas customers in the UK. The partnership enables the customers to gain access to Sophos Central cloud-based security platform to secure their organizations. The companys products & services also enable customers to minimize cybersecurity risks by using behavioral analytics and machine learning to identify known & unknown threats. In August 2018, Kapalya, a Hawaii-based cybersecurity startup, introduced a data protection solution to secure data at rest and data in transit on private & public clouds and mobiles. The platform allows users to work on any device, ensuring end-to-end encrypted file sharing.

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Partial chapters of report table of contents (TOC):

Chapter 3. Encryption Software Industry Insights

3.1. Introduction

3.2. Industry segmentation

3.3. Industry landscape, 2015 2026

3.4. Evolution of encryption software

3.5. Encryption software industry architecture

3.6. Encryption software industry ecosystem analysis

3.7. Technology & innovation landscape

3.7.1. Quantum cryptography

3.7.2. Honey encryption

3.7.3. Lattice based cryptography

3.8. Regulatory landscape

3.8.1. North America

3.8.1.1. ENCRYPT Act of 2019 (U.S.)

3.8.1.2. Gramm-Leach-Bliley Act of 1999 (U.S.)

3.8.1.3. Personal Information Protection and Electronic Documents Act [(PIPEDA) Canada]

3.8.2. Europe

3.8.2.1. General Data Protection Regulation (EU)

3.8.2.2. Data Protection Authority (DPA) regulations on the transmission of personal data by e-mail (Denmark)

3.8.3. APAC

3.8.3.1. National Law on Cryptography (China)

3.8.3.2. Guide to securing personal data in electronic medium (Singapore)

3.8.4. Latin America

3.8.4.1. Law No. 9,296 of July 24, 1996 (Government Access to Encrypted Communications, Brazil)

3.8.4.2. National Directorate of Personal Data Protection (Argentina)

3.8.5. MEA

3.8.5.1. Policy of Control and Licensing of Commercial Encryption Items (Israel)

3.8.5.2. Regulation of Interception of Communications and Provision of Communication-related Information Act, 2002 (RICA- South Africa)

3.9. Industry impact forces

3.9.1. Growth drivers

3.9.1.1. Stringent regulations on cybersecurity and data privacy compliances

3.9.1.2. Rising concerns over securing enterprise Intellectual Property (IP) assets

3.9.1.3. Increasing proliferation of cloud and virtualization technologies

3.9.1.4. Growing trend of Bring Your Own Devices (BYOD) among enterprises

3.9.2. Industry pitfalls & challenges

3.9.2.1. Complexities in encryption key management

3.9.2.2. Easy availability of pirated and free-to-use encryption software

3.9.2.3. Regulatory restrictions on cryptography and encryption

3.10. Growth potential analysis

3.11. Porters analysis

3.12. PESTEL analysis

Browse complete report table of contents @ https://www.gminsights.com/toc/detail/encryption-software-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:Arun HegdeCorporate Sales, USAGlobal Market Insights, Inc.Phone: 1-302-846-7766Toll Free: 1-888-689-0688Email: sales@gminsights.com

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Encryption Software Market to cross USD 20 Bn by 2026: Global Market Insights, Inc. - Yahoo Finance

Quantum Cryptography Market Size and Key Trends in Terms of Volume and Value 2019-2024 – Instanews247

The global quantum cryptography market should reach $1.3 billion by 2024 from $347.2 million in 2019, with a compound annual growth rate (CAGR) of 30.7% during the forecast period 2019-2024.

Report Scope:

The scope of this report is broad and covers global markets of quantum cryptography, which is used globally in various types of applications. The market is segmented by deployment protocol, algorithm type, component, application, end-user vertical, and by region. Revenue forecasts from 2019 to 2024 are presented for each deployment protocol, algorithm type, component, application, end-user vertical, and regional market.

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The report also discusses the major players in each of the regional markets for quantum cryptography. It explains the major market drivers of the global market of quantum cryptography, the current trends within the industry, and the regional dynamics of the quantum cryptography market. The report concludes with a special focus on the vendor landscape. It includes detailed profiles of the major global vendors in the quantum cryptography industry.

Report Includes:

86 tables An overview of the global market for quantum cryptography Analyses of global market trends with data from 2018, estimates for 2019, and projections of compound annual growth rates (CAGRs) through 2024 Assays the role of quantum cryptography to help secure private messages and communication of confidential information across different verticals Information on underlying technologies driving the industrys growth along with primary factors current trends, regulatory updates, and other macro-economic factors that can influence the market Insights into initiatives taken by government and institutions around the world to build quantum computers that can break down non quantum-based cryptography Snapshot of technological advancements in next-generation wireless network technologies Detailed profiles of key companies in the global quantum cryptography market, including Crypta Labs Ltd., Hewlett-Packard, IBM, Infineon Technologies AG, Microsoft Corp., Quintessence Labs Pty Ltd., and Toshiba Corp.

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Summary

Quantum cryptography uses quantum mechanical properties to complete cryptographic tasks. The Quantum Key Distribution (QKD) technology in quantum cryptography is based on Heisenbergs uncertainty principle. Therefore, an unauthorized third partys attempt to intercept the secret keys used for encryption will produce an irreversible change in the quantum states before they are retransmitted to the intended destination. This will cause an abnormally high error rate in the transmissions between the sender and intended recipient, alerting the recipient of the unauthorized third partys attempt to intercept the keys. Quantum cryptography is used across industries such as government and defense,banking and financial services, IT and telecommunications, and retail, among others.

The increasing number of cyberattacks, along with the pressing need to secure data and cybersecurity funding should drive the growth in the global market of quantum cryptography. Governments and institutions around the world are directing financial resources toward build quantum computers that can instantly break non-quantum-based cryptography. This also has created an increased interest in quantum cryptography as many companies are seeking to install quantum cryptographic systems to protect their data. The IT and telecommunication sector should be the largest contributor to the global market of quantum cryptography because enterprises in this segment continuously generate big data.Protection from cyberattacks is vital.

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Quantum Cryptography Market Size and Key Trends in Terms of Volume and Value 2019-2024 - Instanews247

Why Have So Few Women Won the Most Important Award in Computing? – Slate

Navy Rear Adm. Grace Hopper in 1978.

Lynn Gilbert/Wikimedia Commons

Recipients of the Turing Awardwidely considered the Nobel Prize of computingmay not be household names, but their innovations have wired our lives. Tim Berners-Lee (2016 Turing Award recipient) invented the World Wide Web and the first web browser. Whitfield Diffie and Martin Hellman (2015 recipients) invented public-key cryptographythe security ingredient that permits us, for example, to enter credit card numbers online with confidence. Raj Reddy (1994) pioneered artificial intelligence, which enables computers to understand spoken language. Yoshua Bengio, Geoffrey Hinton, and Yann LeCuns (2018) breakthroughs in deep learning have enabled self-driving cars, facial recognition, and more.

Nominations for the 2019 Turing Award are due to the Association for Computing Machinerythe awarding organizationby Jan. 15. The ACM typically announces the winner(s) in March. Later in June, it will honor the recipient(s), along with winners of its other, less prestigious computing prizes, at an awards banquet in San Francisco. If you attend, youll notice something stark: Nearly all of those who have received computings top prize have been men.

Reading through the recipient list, you could easily come away with the false impression that men are responsible for nearly all computing breakthroughs. Since the Turing Awards inception in 1966, 70 computer scientists have won it, only three of whom have been women. The first female recipient didnt win until 2006it took 40 years to recognize a woman. Some hypothesize that the dearth of women Turing Award recipients reflects womens underrepresentation in the field. However, the roughly 4 percent of women recipients does not approximate the fact that women currently earn 21 percent of the Ph.D.s in computer science, down from the 1987 peak of 37 percent.

Million-dollar prizes like the Turing Award seize the publics attention. Winners are sought-after, invited to give high-profile speeches, meet with business leaders, and advise politicians. For a certain nerdy cohortone I belong tothey are heroes. In public programming emanating from the ACM Awards Banquet and beyond, they serve as role models to inspire young people. When womens contributions are overlooked, the public forgoes opportunities to derive inspiration and gain advice from an important sector of computing pioneers.

And the ACM has definitely missed opportunities to recognize pioneering women computer scientists. Grace Hopper (19061992) worked on the first commercial computer produced in the U.S., created the first complier, and invented the first English-like data processing language. The ENIAC TeamBetty Jean Bartik, Kathleen McNulty, Mauchly Antonelli, Ruth Teitelbaum, Frances Spence, Marlyn Meltzer, and Frances Holbertonwas responsible for the worlds first general-purpose computer used for calculating World War II ballistic trajectories. Sister Mary Kenneth Keller (19131985) helped develop BASIC computer code. Radia Perlman (born in 1951) developed spanning tree protocol, making the internet possible. Judy Clapp (born in 1930) developed an air defense system prototype that used radar to track and direct aircraft courses. Karen Sparck Jones*(19352007) developed inverse document frequency, the technology underlying modern search engines. Stories of women computing pioneers could fill books. In fact, they do: A few gems include Broad Band: The Untold Story of the Women Who Made the Internet, When Computers Were Human, and Grace Hopper: Admiral of the Cyber Sea.

Fostering better gender inclusivity among Turing Award recipients and in the larger computing community is not only good for womenits also good for innovation and discovery. Gender diversity in science enhances the variety of viewpoints, questions, and areas addressed by researchersleading to a gender diversity dividend. Heterogenous groups of problem-solvers have been shown to outperform groups of homogenous, high-ability problem solvers, according to one study. Participants in diverse groups have been shown to prepare better in anticipation of dissenting opinions, which provokes thought and enhances their creativity, according to other studies. As one author wrote, Diversity jolts us into cognitive action in ways that homogeneity simply does not.

Nonetheless, research shows that systemic implicit and explicit bias impede women computer scientists. Pervasive stereotypes suggesting that they do not possess innate scientific talent also undermine women. Women who are perceived as feminine or adept at interpersonal skills are often deemed ill-suited for computing.

However, there is good news: Many of the very influential men who have received the Turing would prefer for the award to be more inclusive. We have been trying to prime the pump by having the [ACM] committees pay more attention to encouraging nominations in accordance with this broad desire to have all of the people represented, said Vinton Cerf (2004), recent co-chair of the ACM awards committee, and current chief internet evangelist at Googlewhere he is working on an interplanetary internet, among other pursuits.

Recognizing more women wouldnt, by itself, reduce the institutional barriers that limit womens advancement in computing. At universities, women researchers are called on for internal service roles tending to the academic family more often than men, which constrains their research time. Lack of maternity leave and affordable child care disproportionately affect women scientists during the vital early-career stages. Also, some family-friendly policies exacerbate gender inequities among research scientists, particularly as family leave policies have been shown to reduce mens teaching loads at a higher rate than womens. On-site child care has been shown to increase mens journal publicationsbut only womens teaching duties.

Some of the institutional problems are mirrored in the process of identifying potential Turing Award winners. The ACM relies on prominent computer scientists to write letters of support nominating candidates for the award. Academic letters in the sciences, necessary for career advancement and award nominations, have been shown disproportionately to contain language raising doubts about women electing to pursue science, which corroborates an earlier study. Those who are charged with evaluating professional accomplishments often do not account for mens tendency to overestimate their abilities or womens tendency to underestimate theirs. The result is a pool of Turing Award nominees that bears striking similarities to 50 years worth of draw-a-scientist experiments, in which children asked to draw a scientist overwhelmingly draw men. To be sure, not every woman in computing experiences all of these challenges. But many experience some.

We typically receive one woman nominee [for the Turing Award] every five years. Its very disturbing, said ACM President Cherri Pancake in September at the most recent Heidelberg Laureate Forum, an annual gathering of math and computer science laureates.

We need to nominate more women, said Turing Award recipient Robert Tarjan (1986) at the time. I can think of a number of women who should be nominated. They are deserving women.

Indeed. The ACM has made some progress toward gender inclusivity with regard to the Turing in recent years. Frances Allen (2006) was recognized for her work optimizing compilersprograms that translate code from one programming language into another. That laid the foundation for automatic parallel execution, in which large computational problems are divided into smaller ones that are solved simultaneously. Barbara Liskov (2008) was honored for pioneering contributions to programming languages and system design. And Shafi Goldwasser (2012) was celebrated for paving the way for the science of cryptography and inventing methods for efficiently verifying mathematical proofs in the study of complex systems.

Nonetheless, Allen, Liskov, and Goldwasser could use company not only on a potential trip to the ACM Awards Banquet or the Heidelberg Laureate Forum, but in the publics collective conscious concerning what computer science heroes look like.

Correction, Jan. 7, 2020: This article originally misidentified Karen Sparck Jones as Katherine Spark Jones.

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Why Have So Few Women Won the Most Important Award in Computing? - Slate

nCipher Security CSO Pali Surdhar, on what to expect in 2020 – Security Boulevard

nCipher Security CSO Pali Surdhar, on what to expect in 2020

ncipher

Mon, 01/06/2020 22:20

To paraphrase the wise fictional character Ferris Buellerthe IT security world moves at a pretty fast pace. If you dont stop and look around once in a while, you miss out on a business world rite of passage: 2020 predictions.

Below, nCiphers CSO Pali Surdhar on what we might expect in 2020, as broken down by topic area.

Consumers will continue to demand a better user experience and always on availability of their devices and applications, which will require them to give up even more PII data to applications and services. This will happen readily, despite the ongoing publicity around dubious business privacy practices. As software (or rather, APIs) continue to eat the world, security and securing software (especially embedded systems) will continue to prove challenging, leading to even more breaches. 2019 is proving to be a banner year for breaches, and theres no reason to believe 2020 will be a positive exception to the rule.

The hype around blockchain will abate, as both consumers and businesses come to understand blockchain is not a financial panacea. Keeping blockchain technology secure still entails relying on security best practices, which include secure key management and correct use of cryptography. Concurrently, well see a focus on quality over quantity: blockchain applications will become more meaningful due to a better understanding of the limitations of the system and where real benefits may be derived.

Supply chain security and assurance will increasingly take the data security spotlight. As companies seek to cut costs and increase efficiencies by collaborating with multiple third-parties, their supply chains have become even more complex. Transparency is necessary for security, but the degrees of separation within a supply chain have made this goal even more unreachable.

Security professionals will be more difficult to recruit despite the huge interest and awareness around the importance of this role. This is because the focus on security is moving up the stack. Cloud deployments are becoming more attractive and embedded hardware less so. Security in the cloud requires a different model, and budding professionals are being taught high-level languages such as python. Unfortunately, theyre then missing out on the appreciation of processor architecture necessary when working with lower level languages and embedded systems.

In 2020, cyber criminals will leverage AI and machine learning (ML) to find exploits on systems and it will lead to prolific and public data security breaches. AI and ML are powerful tools for data crunching I expect that we will start to see the development of exploit tools that are based on AI and ML. We also know that AI and ML systems can be defeated or biased to give anomalous results. Additionally, most of the data being used for AI and ML is not normally under the control of a single body. There are multiple sources and owners, so preserving the integrity data used to train intelligent systems is not an easy problem to solve. Attackers can easily exploit this loophole.

A contrived example is that your Garmin collects your health data and your insurance company finds out that you have a heart murmur and decides to increase your insurance premium so whoever controls the data can modify the outcome. The bottom line is that AI and ML are double-edged swords, and that reality will increasingly become apparent.

Click here to read more predictions from nCiphers executive team. You can also follow nCipher on Twitter, LinkedIn, and Facebook.

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Wed, 01/08/2020 12:00

*** This is a Security Bloggers Network syndicated blog from Drupal blog posts authored by ncipher. Read the original post at: https://www.ncipher.com/blog/ncipher-security-cso-pali-surdhar-what-expect-2020

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nCipher Security CSO Pali Surdhar, on what to expect in 2020 - Security Boulevard

2020 A Decisive Year For Blockchain Via Ethereum? – The Coin Republic

Ritika Sharma Wednesday, 08 January 2020, 06:42 EST Modified date: Wednesday, 08 January 2020, 06:42 EST

What if I say that Ethereum could provide us with a global economy up to $80 trillion? That is indeed a thoughtful idea, as gold-which has a high demand and is much precious, has a market cap of $8 trillion in the present world.

Well before we get into a discussion further, let us first notice what Andrew Keys, the former Head of Global Business Development at ConsenSys and now the managing partner at Digital Asset Risk Management Advisors (DARMA Capital), says.

Keys says that BTC and blockchain would think of individual entities of their own as Ethereum which considered to be the dial-up internet would be more or less compatible as the Broadband. According to him, while Bitcoin can be used for a particular cause, Ethereum can be used to benefit the world and the community in plenty number of ways.

The Open Source, Blockchain-based distributed computing platform, Ethereum, could digitize many of the assets such as gold, software licenses, debt, derivatives, etc. In his blog post of ConsenSys, he also mentions the by far pace of the development of Ethereum 2.0. The phase 0 of the Ethereum would be instead replaced by step 1 by the use of SHARD Chains.

Moreover, as Keys also suggests the benefits of Bitcoin as a way which could bring the peer to peer network, a consensus-building algorithm and a virtual machine for aiming a solution to the double-spent problem and the Byzantine generals problem he also says that Ethereum could kick start the decade with amazing benefits.

The Bitcoin maximalists that believe that Bitcoin is where this decentralizing technology will stop will be in for a rude awakening. Bitcoins ascension to digital gold has been astounding and has signalled the beginning of a whole new techno-economic era. But digital gold is just thata beginning. Keys Says.

Keeping the two technologies aside, Andrew also predicts Web 3.0, which is the 3rd gen of the Internet services, would also see its upliftment by taking Ethereum as a base. To create more connected and open websites, Web 3.0s elements would also see a boom in 2020.

As an instance, the Filecoin, developed by Protocol Labs, would help with the provision of space in hard disks for cryptography.

Thus, as a conclusion, it can be indeed be said that the year 2020 could be a boom in the world of blockchain technology, so let us see what the powerful asset ETH has to offer in its course of making it a superpower.

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2020 A Decisive Year For Blockchain Via Ethereum? - The Coin Republic

Podcast: The Overhype and Underestimation of Quantum Computing – insideHPC

https://radiofreehpc.com/audio/RF-HPC_Episodes/Episode260/RFHPC260_QuantumQuantum.mp3In this podcast, the Radio Free HPC team looks at how Quantum Computing is overhyped and underestimated at the same time.

The episode starts out with Henry being cranky. It also ends with Henry being cranky. But between those two events, we discuss quantum computing and Shahins trip to the Q2B quantum computing conference in San Jose.

Not surprisingly, there is a lot of activity in quantum, with nearly every country pushing the envelop outward. One of the big concerns is that existing cryptography is now vulnerable to quantum cracking. Shahin assures us that this isnt the case today and is probably a decade away, which is another way of saying nobody knows, so it could be next week, but probably not.

We also learn the term NISQ which is a descriptive acronym for the current state of quantum systems. NISQ stands for Noisy Intermediate Scale Quantum computing. The conversation touches on various ways quantum computing is used now and where its heading, plus the main reason why everyone seems to be kicking the tires on quantum: the fear of missing out. Its a very exciting area, but to Shahin, it seems like how AI was maybe 8-10 years ago, so still early days.

Other highlights:

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Podcast: The Overhype and Underestimation of Quantum Computing - insideHPC

Global Banks’ Inclination For Blockchain And Cryptography – EconoTimes

With sovereign governments and their central banks across the globe have been exploring the essence and the opportunities of CBDC (Central Bank Digital Currency) foreseeing a swift transformation phase in the prevailing finance system.

The advanced era of FinTech has come up with the new trends and inventions, such as, Smart contracts & DeFi which seem to be lucrative prospects and is most likely to hit the financial avenue by endorsing luring use cases of digital assets that enables flexibility, controllability of the financial as well as real assets, efficient trade finance & loans business and offer interest-bearing contracts etc.

The First Deputy Governor of Banque de France, Denis Beau, has recently recommended deploying distributed ledger technology (DLT) for euro payment settlements within the Eurozone.

At the Second Annual Capital Markets Technology and Innovation Conference, Denis Beau advocated the European Central Bank (ECB) that the European Central Bank (ECB) should be liberal in experimenting with distributed ledger technology (DLT) as a way of settling euro-denominated transactions.

The Swiss National Bank (SNB) made an effort by signing an operational pact with the Bank of International Settlements (BIS) to delve into digital currencies in the BIS Innovation Hub Centre established in Switzerland.

Although US FED has clarified that they dont have the concrete plans of developing CBDC, the lingering hush-hush from the recent past that a top Fed authority has mentioned the US Central Bank is pondering over the idea of a digital dollar, while Democratic and Republican members of Congress communicated with the Fed Chairman Jay Powell to know the implications of such a revolutionary adoption.

In reply, the Chairman of the Federal Reserve, Powell, admitted the trends and said to the US representatives French Hill and Bill Fosters, who had asked whether the Federal Reserve plans to launch a digital currency, in a descriptive letter in reply, he clarifies that they have been observing the trends of digital currencies keenly.

While the emerging economies are no far from this race,

Bank of China pilots Blockchain-Based bond issuance programme, while PBoC eyeing on stimulating cryptocurrency and Fintech projects upon their Presidents perspectives on Blockchain technology. Huang Qifan, the vice chairman of the China International Economic Exchange Center, announced the name of the digital currency to be launched by the Peoples Bank of China, DCEP.

Indonesias private lending institution PT Bank Yudha Bhakti has associated with a Fintech Firm Akulaku through partnership pact to fortify Banks digital transformation strategy.

Turkey-based Takasbank introduces physical gold-backed transfer system on a blockchain-based platform.

The Ripple who has been popular among the banking community as its edge to transact overseas payments swiftly and efficiently is perceived as a competitive advantage, however, the banks have the current SWIFT mechanism (Society of Worldwide InterBank Financial Telecommunications) in place that seems unlikely to lose their importance in the industry so easily.

The EU has created a blockchain and artificial intelligence (AI) fund worth EUR 400 million. It is interpreted as a movement to keep up with innovation efforts of competitor countries such as the US and China.

While EU has created a blockchain and artificial intelligence (AI) fund worth EUR 400 million. It is interpreted as a movement to keep up with innovation efforts of competitor countries such as the US and China.

While the French based credit institution, Societe Generale SFH, which is a subsidiary of one of Europe's largest financial services groups, Societe Generale Group, has also issued a 100 million euro ($112 million) bond as a security token on the Ethereum (ETH) blockchain. But their redemption has not yet been confirmed through the DLT platform.

Spanish Banking Giant Santander Pilots Ethereum-Powered Bond Redemption

Bank of America Taps R3 and TradeIX to strategize and develop the International Trade Network.

Lloyds Bank has made an announcement of partnership with a blockchain platform, Komgo to streamline its commercial banking division.

While Banco Santander carried out the fixed business through blockchain, the head of digital investment banking division, Mr. John Whelan, clarified the news that the bank has carried out an early redemption of its Ethereum blockchain-enabled bond that was issued in September of this year.

HSBC also performed the first blockchain-based letter of credit transaction denominated in Chinese yuan. The transaction has successfully been executed for the Voltron trade finance blockchain platform which has been developed by the consortium of eight banks, in association with the renowned banking names like, BNP Paribas and Standard Chartered also, as per the reports.

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Global Banks' Inclination For Blockchain And Cryptography - EconoTimes

China To Enforce First-ever Cryptography Law As It Kicks-off Its First Digital Currency – The Coin Republic

Steve Anderrson Thursday, 02 January 2020, 01:28 EST Modified date: Thursday, 02 January 2020, 02:23 EST

Reports from the Reference News Network has now stated that the cryptography law passed in October 2019 will now go into full effect starting the 1st January 2020. The legislation divided passwords into core passwords, ordinary passwords, and commercial passwords.

The law allows the Chinese government to hold full management over the core and regular passwords while it has promised to help nurture the industry to manage commercial passwords. Although the law doesnt directly mention cryptography, passwords are at the core of protecting data within a blockchain network.

Blockchain technology based on a decentralized, transparent, ledger system that takes data and distributes them into blocks, each protected by its hash. The hash is a very complex cryptographic password that helps maintain the integrity of the block. This powerful cryptographic encryption and transparency of the ledger are why blockchain technology is profoundly revolutionary and influential.

This is part of an aggressive push from the Chinese government on the adoption of blockchain technology over the past couple of months. This is a significant move to improve on the core technology behind the blockchain network to facilitate Chinas digital currency. The digital RNB that will be launched by the Peoples Bank of China will be the first digital currency form ever in a major country.

The issuance of a digital RNB will be most likely using the blockchain network, and it aims to strengthen the financial economy of the country while holding strict supervision of funds. It would also help reduce the load on financial institutions in the regulation of currency.

It as also reported that Chinese leaders have also made a policy that makes a strong argument for the acceleration of blockchain-based technology. This crypto law passed is a first step in improving the blockchain technology that will likely be backing the digital RMB. The bill also demands the Chinese government will hold authority over the designation of national and industry cryptographic standards.

Reports suggest that the Chinese government will also keep oversight over overseas remittances and production lines, from raw materials to manufacturing on the assembly line and circulation to make sure none of the records tampers.

This move has also seen with some criticism from Facebook CEO, Mark Zuckerberg who is also planning on releasing the Libra stablecoin, purportedly sometime during 2020. He argued that allowing Chinese superiority in the cryptocurrency space could prove disastrous for the value of the US dollar and that it could quickly lose its leading position in the currency space if it doesnt innovate.

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China To Enforce First-ever Cryptography Law As It Kicks-off Its First Digital Currency - The Coin Republic

Inside the race to quantum-proof our vital infrastructure – www.computing.co.uk

"We were on the verge of giving up a few years ago because people were not interested in quantum at the time. Our name became a joke," said Andersen Cheng, CEO of the UK cybersecurity firm Post-Quantum. After all, he continued, how can you be post- something that hasn't happened yet?

But with billions of pounds, renminbi, euros and dollars (US, Canadian and Australian) being pumped into the development of quantum computers by both governments and the private sector and with that research starting to bear fruit, exemplified by Google's achievement of quantum supremacy, no-one's laughing now.

One day, perhaps quite soon, the tried and trusted public-key cryptography algorithms that protect internet traffic will be rendered obsolete. Overnight, a state in possession of a workable quantum computer could start cracking open its stockpiles of encrypted secrets harvested over the years from rival nations. Billions of private conversations and passwords would be laid bare and critical national infrastructure around the world would be open to attack.

A situation often compared with the Y2K problem, the impact could be disastrous. Like Y2K, no-one can be quite sure what the exact consequences will be; unlike Y2k the timing is unclear. But with possible scenarios ranging from massive database hacks to unstoppable cyberattacks on the military, transport systems, power generation and health services, clearly, this is a risk not to be taken lightly.

Critical infrastructure including power generation would be vulnerable to quantum computers

Post-quantum cryptography uses mathematical theory and computer science to devise algorithms that are as hard to crack as possible, even when faced with the massive parallel processing power of a quantum computer. However, such algorithms must also be easy to deploy and use or they will not gain traction.

In 2016, the US National Institute of Standards and Technology (NIST) launched its competition for Public-Key Post-Quantum Cryptographic Algorithms, with the aim of arriving at quantum-safe standards across six categories by 2024. The successful candidates will supplement or replace the three standards considered most vulnerable to quantum attack: FIPS 186-4 (digital signatures), plusNIST SP 800-56AandNIST SP 800-56B (public-key cryptography).

Not all types of cryptography are threatened by quantum computers. Symmetric algorithms (where the same key is used for encryption and decryption) such as AES, which are often deployed to protect data at rest, and hashing algorithms like SHA, used to prove the integrity of files, should be immune to the quantum menace, although they will eventually need larger keys to withstand increases in classical computing power. But the asymmetric cryptosystems like RSA and elliptic curve cryptography (ECC) which form the backbone of secure communications are certainly in danger.

Asymmetric cryptography and public-key infrastructure (PKI) address the problem of how parties can exchange encryption keys where there's a chance that an eavesdropper could intercept and use them. Two keys (a keypair) are generated at the same time: a public key for encrypting data and a private key for decrypting it. These keys are related by a mathematical function that's trivial to perform one in one direction (as when generating the keys) but very difficult in the other (trying to derive the private key from the corresponding public key). One example of such a 'one-way' function is factorising very large integers into primes. This is used in the ubiquitous RSA algorithms that form the basis of the secure internet protocols SSL and TLS. Another such function, deriving the relationship between points on a mathematical elliptic curve, forms the basis of ECC which is sometimes used in place of RSA where short keys and reduced load on the CPU are required, as in IoT and mobile devices.

It is no exaggeration to say that in the absence of SSL and TLS the modern web with its ecommerce and secure messaging could not exist. These protocols allow data to be transmitted securely between email correspondents and between customers and their banks with all the encryption and decryption happening smoothly and seamlessly in the background. Unfortunately, though, factorising large integers and breaking ECC will be a simple challenge for a quantum computer. Such a device running something like Shor's algorithm will allow an attacker to decrypt data locked with RSA-2048 in minutes or hours rather than the billions of years theoretically required by a classical computer to do the same. This explains NIST's urgency in seeking alternatives that are both quantum-proof and flexible enough to replace RSA and ECC.

NIST is not the only organisation trying to get to grips with the issue. The private sector has been involved too. Since 2016 Google has been investigating post-quantum cryptography in the Chrome browser using NewHope, one of the NIST candidates. Last year Cloudflare announced it was collaborating with Google in evaluating the performance of promising key-exchange algorithms in the real world on actual users' devices.

Of the original 69 algorithms submitted to NIST in 2016, 26 have made it through the vetting process as candidates for replacing the endangered protocols; this number includes NewHope in the Lattice-based' category.

One of the seven remaining candidates in the Code-based' category is Post-Quantum's Never-The-Same Key Encapsulation Mechanism (NTS-KEM) which is based on the McEliece cryptosystem. First published in 1978, McEliece never really took off at the time because of the large size of the public and private keys (100kB to several MB). However, it is a known quantity to cryptographers who have had plenty of time to attack it, and it's agreed to be NP-hard' (a mathematical term that in this context translates very roughly as extremely difficult to break in a human timescale - even with a quantum computer'). This is because it introduces randomisation into the ciphertext with error correction codes.

"We actually introduce random errors every time we encrypt the same message," Cheng (pictured) explained. "If I encrypt the letters ABC I might get a ciphertext of 123. And if I encrypt ABC again you'd expect to get 123, right? But we introduce random errors so this time we get 123, next time we get 789."

The error correction codes allow the recipient of the encrypted message to cut out the random noise added to the message when decrypting it, a facility not available to any eavesdropper intercepting the message.

With today's powerful computers McEliece's large key size is much less of an issue than in the past.Indeed, McEliece has some advantages of its own - encryption/decryption is quicker than RSA, for example - but it still faces implementation challenges compared with RSA, particularly for smaller devices. So for the past decade, Cheng's team has been working on making the technology easier to implement. "We have patented some know-how in order to make our platform work smoothly and quickly to shorten the keys to half the size," he said.

Post-Quantum has open-sourced its code (a NIST requirement so that the successful algorithms can be swiftly distributed) and packaged it into libraries to make it as drop-in' as possible and backwards-compatible with existing infrastructure.

Nevertheless, whichever algorithms are chosen, replacing the incumbents like-with-like won't be easy. "RSA is very elegant," Cheng admits. "You can do both encryption and signing. For McEliece and its derivatives because it's so powerful in doing encryption you cannot do signing."

An important concept in quantum resistance is crypto-agility' - the facility to change and upgrade defences as the threat landscape evolves. Historically, industry has been the very opposite of crypto-agile: upgrading US bank ATMs from insecure DES to 3DES took an entire decade to complete. Such leisurely timescales are not an option now that a quantum computer capable of cracking encryption could be just three to five years away.

Because of the wide range of environments, bolstering defences for the quantum age is not as simple as switching crypto libraries. In older infrastructure and applications encryption may be hard-coded, for example. Some banks and power stations still rely on yellowing ranks of servers that they dare not decommission but where the technicians who understand how the encryption works have long since retired. Clearly, more than one approach is needed.

It's worth pointing out that the threat to existing cryptosystems comes not only from quantum computers. The long-term protection afforded by encryption algorithms has often been wildly overestimated even against bog standard' classical supercomputers. RSA 768, introduced in the 1970s, was thought to be safe for 7,000 years, yet it was broken in 2010.

For crypto-agility algorithms need to be swappable

Faced with the arrival of quantum computers and a multiplicity of use cases and environments, cryptographers favour a strength-in-depth or hybridised approach. Cheng uses the analogy of a universal electrical travel plug which can be used in many different counties.

"You can have your RSA, the current protocol, with a PQ [post-quantum] wrapper and make the whole thing almost universal, like a plug with round pins, square pins or a mixture of both. Then when the day comes customers can just turn off RSA and switch over to the chosen PQ algorithm".

Code-based systems like NTS-KEM are not the only type being tested by NIST. The others fall into two main categories: multivariate cryptography, which involves solving complex polynomial equations, and lattice-based cryptography, which is a geometric approach to encrypting data. According to Cheng, the latter offers advantages of adaptability but at the expense of raw encryption power.

"Lattice is less powerful but you can do both encryption and signing,

but it has not been proven to be NP-hard," he said, adding: "In the PQ world everyone's concluded you need to mix-and-match your crypto protocols in order to cover everything."

Professor Alan Woodward (pictured) of Surrey University's Department of Computing said that it's still too early to guess which will ultimately prove successful.

"Lattice-based schemes seem to be winning favour, if you go by numbers still in the race, but there is a lot of work being done on the cryptanalysis and performance issues to whittle it down further," he said. "If I had to bet, I'd say some combination of lattice-based crypto and possibly supersingular isogeny-based schemes will emerge for both encryption and signature schemes."

Quantum mechanics can be an aid in the generation of secure classical encryption keys. Because of their deterministic nature, classical computers cannot generate truly random numbers; instead they produce pseudo-random numbers that are predictable, even if only to a tiny degree. One of Edward Snowden's revelations was that the NSA had cracked the random number generator used by RSA. More recently, weaknesses in RSA's random number generation were discovered in some IoT devices, where one in 172 were found to use the same factor to generate keys. However, a quantum random number generator (QRNG) produces numbers that are truly random, according to quantum theory, resolving this key area of vulnerability.

QKD commonly uses polarised photos to represent ones and zeros

Whereas post-quantum cryptography is based on maths, the other major area of research interest, quantum key distribution (QKD), is rooted in physics, specifically the behaviour of subatomic particles. QKD is concerned with key exchange, using quantum-mechanics to ensure that eavesdroppers cannot intercept the keys without being noticed.

In BB84, the first proposed QKD scheme and still the basis for many implementations, the quantum mechanical properties of subatomic particle, such as the polarity of a photon, is manipulated to represent either a zero or a one. A stream of such photons, polarised at random, is then sent by one party to a detector controlled by the other.

Before they reach the detector, each photon must pass through a filter. One type of filter will allow ones' to pass, the other zeros'; as with the polarisation process, the filters are selected at random, so we'd expect half of the photons to be blocked by the filtering process. Counterintuitively, however, their quantum mechanical properties mean that even those photons that are blocked' by a filter still have a 50 per cent chance of passing their correct value to the detector. Thus, we'd expect an overall agreement between transmission and detection of 75 per cent (50 per cent that pass straight through plus 25 per cent that are blocked' but still communicate their correct value).

Once enough photons have been transmitted to produce a key of the required length, the parties compare, over a separate channel, the sequence of emitted ones and zeros with the filter used for each, discarding the individual results where they disagree. A classical symmetric encryption key is then created from the remaining string of ones and zeros. This key can be used as an uncrackable one-time pad' which is then used to encrypt data such as a message or a login.

Should a man-in-the-middle intercept the stream of photons, the parties will be alerted because of the observer effect: measuring the state of a quantum particle will change it. Statistically, the number of photons registered as correct' by the detector will drop from 75 per cent to around 62.5 per cent and this will be noticed when the two parties compare a random sample of their results at the end of the process. Any such discrepancy will cause the key to be rejected. Properly implemented, QKD can be considered as a provably unbreakable method of exchanging keys.

Switzerland is a QKD pioneer, deploying the technology to secure electoral votes as far back as 2007. The company that helped to achieve this feat, Geneva University spin-off ID Quantique (IDQ), has since become one of the main manufacturers of QKD and QRNG hardware. CEO Grgoire Ribordy (pictured) has seen an recent upsurge of interest beginning in 2016 when the European Commission unveiled its 1 billion, ten-year Quantum Flagship programme. The market is now starting to mature, he said, adding that his company boasts customers in government, finance and "other organisations that have high-value IP to protect".

There's a certain rivalry between physics and maths, between QKD and post-quantum encryption, not least because funding has been hard to come by. Being hardware-based, QKD has so far gobbled up the lion's share of the research grants, but it's possible that when NIST returns its verdicts more money will flow into PQ. Arguments also rage over the practical limits of security.

"The physicists tend to talk about QKD as being perfectly secure' which sets the cryptographers on edge as there is no such thing in practice," Woodward said.

Ribordy is adamant that both techniques will be required. As with the hybrid approach to adopting algorithms, it's not an either-or situation; it all depends on the use case.

"I think they're actually complementary. Quantum crypto [another name for QKD] will provide a higher security and should be used maybe in backbone networks where there's a lot of at stake, big pipes must be protected with more security, and then the quantum-resistant algorithms can find an application in areas where security is not as critical or maybe where there's less data at stake."

One company that's looking to scale up QKD on a national basis is

the startup QuantumXchange. Based in Bethesda, Maryland, USA, it was founded in 2018 with VC funding to provide ultra-secure data networks. During his interview with Computing, president and CEO John Prisco (pictured) bemoaned the fact that his country, while forging ahead with quantum computers, is behind the curve when it comes to defending against them. It's possible that by 2024 when NIST selects its winning algorithms, the game will already be up.

"Everybody is saying, OK, let's fight quantum with quantum and I subscribe to that. We've got quantum computers that are offensive weapons and quantum keys that are the defensive of counterpart to that. The rest of the world outside of the United States is embracing this a lot more quickly - Europe, Japan and China."

As if in answer to his prayers, last month the US House of Representatives voted overwhelmingly to pass the $1.2 billionNational Quantum Initiative Act, designed to accelerate the country's efforts in this area, a rare example of bipartisan agreement in the increasingly fractious political landscape of the US.

Quantum particles are uniquely sensitive to any kind of disturbance, so while China may have successfully transmitted quantum keys between Earth and the Micius satellite, this was only possible because of ideal weather conditions at the time (although, interestingly, Woodward believes it could ultimately be the winning approach).

Particles transmitted through the more common fibreoptic cable are also limited by the tendency of the polarised photons to react with the medium. Even with the most pristine fibre, this limits real-world transmission distance to around 100km. After that, you need intermediary repeaters and trusted nodes' to relay the signal. Since it's not possible to directly clone quantum states, the quantum signal must be converted to classical and then back to quantum again, representing a weak point in the otherwise unbreakable chain. So trusted nodes must be very thoroughly secured, which inevitably increases costs and limits current applications. It is also possible for an attacker to interfere with emitters and detectors to corrupt the key generation process.

Other issues? Well, there's a lack of standards and certifications and the equipment is costly. Also, without some sort of secure signature process, how can parties exchanging keys be sure who they are exchanging them with? In addition, it's restricted to point-to-point communications and it's also incompatible with existing networks.

The theory is sound, said Woodward, but the engineering is still a challenge.

"It's in practice that QKD is encountering difficulties. For example, QKD is not yet at a stage where it is using single photons - it uses pulses of light. Hence, the very basis of not being able to clone the quantum state of a photon is put in question as there is more than one of them."

Woodward added that even after the kinks in QKD - be that via satellite, fibreoptic cables or over the airwaves - have been ironed out, the technology will still likely be confined to highly sensitive data and backbone networks because PQ cryptography will be easier to slot into existing infrastructure.

"Whichever [QKD] scheme proves most reliable and robust they all require that expensive infrastructure over what we have now, and so I can envisage it being used for, possibly, government communications but not for home users whose machines are picking a means to communicate securely with their bank's website," he said.

"The post-quantum schemes in the NIST competition would simply replace the software we already have in places such as TLS so the cost would be much lower, and the level of disruption needed for adoption by end-users would be far less."

However, QuantumXchange is working on overcoming some of these limitations. The firm already operates a small number of high security QKD connections between financial institutions in New York and datacentres in nearby New Jersey over dedicated fibreoptic cables using trusted nodes (manufactured by ID Quantique) to extend the reach of its QKD infrastructure. But it is also working on a hybrid system called Phio TX. This will allow the transmission of electronic quantum keys (i.e. keys created using a QRNG) or classical symmetric keys created from the quantum key via a secure channel separate from that used for the encrypted data. The idea is to make the technology more widely applicable by straddling the QKD-PQ divide and removing the point-to-point restrictions.

"The point is to be crypto-agile," Prisco said. "If a company is trying to come up with a quantum-safe strategy they can implement this product that has quantum-resistant algorithms, electronic quantum keys and optical quantum keys, so it becomes a level-of-service discussion. If you have a link that absolutely has to be protected by the laws of physics, you'd use an optical quantum key. If there's virtually no chance of someone intercepting the data with your key you could use a trusted exchange and the combination of the quantum-resistant algorithm with the quantum random number generated key is very powerful."

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Inside the race to quantum-proof our vital infrastructure - http://www.computing.co.uk

The Relationship Between Cryptocurrencies and the Global Market – Qrius

Cryptocurrencies and the global market have an intricate relationship, and not that one would discuss over a cup of tea on a random evening. Cryptocurrencies are incredibly complex, and the technology that underpins it, the blockchain technology, more so. Therefore, taking a minute out of our busy lives to think of how these digital currencies could affect the global market is not a usual phenomenon. But, being the rational creatures that human beings are, sometimes it becomes necessary to look into how the world economy is being affected by certain elements that run through the subtle networks of society. Thus, with such a notion in mind, we have come up with an article that can explain the exact correlation between cryptocurrencies and the global economy.

Basics of Cryptocurrencies:

Long story cut short, cryptocurrencies are digital currencies that serve as one of the best mediums of financial exchange and transactions. They use the mathematics of cryptography that ensures maximum security in this form of digital transaction. Cryptography also ensures that these digital coins are not easy to be counterfeited, but transactions involving cryptocurrencies become as easy as ever. The network through which the transactions take place is known as the blockchain technology, and this network works on a complex algorithm. Any data that goes into this network becomes immutable at once; which means to say that once a transaction is deemed complete, there is absolutely no way to reverse it.

The Appeal That Cryptocurrencies Have Globally:

The way we deal in cryptocurrencies affects the global economic market in ways we might not have imagined before. One transaction in one part of the world affects the entire chain worldwide and affects the world economy substantially. If you had been thinking that it is only fiat currency that affects the economy, you have been misinformed, and it is time to step out of the bubble of ignorance.

The Decentralized Approach-

Cryptocurrencies, especially like that of Bitcoin, does not require an intermediary for a transaction to go through or be deemed as completed. The most appealing feature of cryptos is that it uses decentralized technology to go about their transactions. And since it does not require any medium for a complete transaction, it is rather quick and frictionless. This further means that cryptocurrencies have a massive contribution to the economy, and it probably affects the world economy quicker than the other forms of currency.

Its Independence From The Dollar-

The dollar acts as a frame of reference or a yardstick for the global economy. However, since cryptocurrencies have nothing to do with banks or any intermediary, they remain independent from the dollar. This is indeed a fresh way for various other financial actors to participate directly into the global economy. There are various payment gateways though, that make transactions involving cryptocurrencies easy. For instance, you could look up the website ofFlexipayto learn more about these gateways.

Its Ability To Remove Impediments From Entering The Market-

Cryptocurrencies have made it easy for various financial actors to enter the financial market without any smidgen of apprehension. Several entrepreneurs are also making use of the ICO system to take their businesses forward with utmost courage and ease. Therefore, the more businesses and entrepreneurs enter the financial market, the higher shall the contribution be towards the economy.

Conclusion:

Cryptocurrencies affect the economy widely and in ways that we hardly think about. These currencies work in a complicated chain and transactions are set in stone once they are deemed complete. Therefore, the above discussion proves that cryptocurrencies affect the economy in numerous ways and enhance the way in which financial systems function.

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The Relationship Between Cryptocurrencies and the Global Market - Qrius