According to Deltec Bank, Bahamas - Blockchain technology uses distributed databases and cryptography for the purpose of recording transactions. These records are interlinked and part of a continually expanding system that acts as a decentralized ledger.

Says Deltec Bank Bahamas

The cryptocurrency Bitcoin brought blockchain technology into the spotlight. Now, this technology is being utilized in many different industries. This post will look specifically at how the blockchain movement is impacting the financial industry.

What is Blockchain Technology?

According to Deltec Bank, Bahamas- Blockchain technology uses distributed databases and cryptography for the purpose of recording transactions. These records are interlinked and part of a continually expanding system that acts as a decentralized ledger.

Don and Alex Tapscott, authors of Blockchain Revolution, describe the technology as an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.

Because there is no central authority and the ledger must be shared, the blockchain network is more transparent. Everyone who is part of the network must act responsibly, which greatly increases its security. Any nefarious actions would be spotted and halted.

How the Blockchain Movement is Affecting Banking

Blockchain technology has the potential to disrupt the banking system as we currently know it. Created for cryptocurrencies, blockchain will very likely replace traditional systems used for carrying out financial transactions.

Banks are starting to realize that changes to the payment system are imminent. These banks fear that avoiding the use of blockchain technology would end their existence. Thus, the need to embrace the blockchain movement has become apparent.

According to Hackernoon, some banks are already implementing the technology. A few examples include:

Banks that follow these examples and find ways to implement blockchain technology into their own systems will be ready to face the upcoming changes in the financial industry.

How the Blockchain Movement Impacts Banks

The blockchain movement is going to revolutionize banking. Here is a little sneak peek that will help you know what to expect.

Increased Security

Greater transparency leads to greater security. In addition, faster transactions do not provide enough time for invaders to interfere with those transactions.

Decreased Expenses

According to Asia Blockchain Review, this technology will save banks about, $15-20 billion in infrastructure cost alone by 2022. This reduction in cost is due in part to smart contracts that result in fewer interactions with go-betweens.

Quicker Transactions

Instead of the typical 1-3 days required to verify and complete traditional transfers, blockchain technology expedites the process so that transfers can be verified in a matter of minutes. This will increase customer satisfaction with banking services.

Better Data

Current banking systems allow data to reside in multiple locations. That information can be altered in one or more of the institutions where the data is being stored. This may result in outdated information.

Blockchain technology provides a solution. Stored data can only be obtained and modified when certain rules have been followed, maintaining the integrity of the data.

It is obvious that the blockchain movement will have a major impact on banks, which is why innovative banks are preparing for the future right now.

These banks are implementing blockchain technology in order to survive the upcoming changes in the financial industry. It will also help them to stand out from competitors and increase consumer satisfaction.

Disclaimer: The author of this text, Robin Trehan, has an Undergraduate degree in economics, Masters in international business and finance and MBA in electronic business. Trehan is Senior VP at Deltec International http://www.deltecbank.com. The views, thoughts, and opinions expressed in this text are solely the views of the author, and not necessarily reflecting the views of Deltec International Group, its subsidiaries and/or employees.

About Deltec Bank

Headquartered in The Bahamas, Deltec is an independent financial services group that delivers bespoke solutions to meet clients unique needs. The Deltec group of companies includes Deltec Bank & Trust Limited, Deltec Fund Services Limited, and Deltec Investment Advisers Limited, Deltec Securities Ltd. and Long Cay Captive Management.

Media ContactCompany Name: Deltec International GroupContact Person: Media ManagerEmail: Send EmailPhone: 242 302 4100Country: BahamasWebsite: https://www.deltecbank.com/

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Impacts of the Blockchain will be Gigantic on the Financial Industry Says Deltec Bank Bahamas - Press Release - Digital Journal

Cardano Foundation in collaboration with the enterprise-grade fintech platform, Coti announced the launch of the long-awaited AdaPay.

Cardano is making things happen. According to reports, the new payment solution, AdaPay allows merchants to accept payments in ADA with a near-instant settlement. Merchants can make settlements into 35 fiat currencies and directly into their bank accounts.

With AdaPay, merchants can now start accepting ADA for their business by joining the COTIpay platform 110 on the COTIs website. Reports claim merchants can freely use either an AdaPay button to integrate. As well as a QR-based point of sale system.

With the intention of enabling merchants to manage real-time transactions in ADA, AdaPay makes use of Cotis Universal Payment Solution (UPS) to extend the utility case for the token.

The payment tool, AdaPay claims it combines all existing support systems of traditional payment processors. Theres also believed to be the added value of digital assets.

A video also exists showing the payment procedure.

CEO of COTI, Dr. Nir Haloani commented on the development. He said that the future looks more promising for payments. He also expressed satisfaction in the partnership, pointing out that the decision stands as one of COTIs foremost steps in expanding its network. Furthermore, he believes the ways people exchange value is changing for the better, and the future looks more promising for payments.

Sequel to the news, the token ADA rose by about 0.2% within 24 hours.

Interestingly, Cardano and Coti announced their plans for AdaPay earlier in October.

Cardano (ADA) can be used to send and receive digital funds. The digital cash claims to represent the future of money. Thus, creating fast, direct transfers, and secured through the use of cryptography.

Besides, Cardano offers scalability and security through a layered architecture. The cryptocurrency makes use of a unique approach in the space as its built on scientific philosophy and peer-reviewed academic research.

To remind, CEO of IOHK, Charles Hoskinson announced that ADA holders can now enjoy staking rewards. He made these comments during Cardano anniversary in Plovdiv, Bulgaria.

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Cardano and Coti Release AdaPay - Altcoin Buzz

Dave Maher, CTO ofIntertrust

In this podcast, the Radio Free HPC team catches up withDave Maher, CTO of internet security companyIntertrust, to share with us his deep knowledge of digital communication, identity management, data rights management, cryptography and digital certificates, blockchain, and much more.

Dave gave us the run down on Intertrust and his other roles in the cybersecurity arena. Dave also discusses the evolution of the internet and the rising need for security given that the internet has vastly changed since it began so long ago.

The main topic of the conversation is authenticity and truth. With the rise of deepfakes (images or videos that are convincingly falsified), how do we know that what were seeing and hearing is created by who we think and is what we think? This leads to a deep conversation on ways we can verify content so that we know that its authentic. There are many ways of approaching it, but some implementation of blockchain seems to be a promising route.

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Podcast: Digital Trust in the Age of Deepfakes - insideHPC

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Trans-Pacific View author Mercy Kuo regularly engages subject-matter experts, policy practitioners, and strategic thinkers across the globe for their diverse insights into U.S. Asia policy. This conversation with Dr. Jonathan Dowling Professor and Hearne Chair of Theoretical Physics at Louisiana State University; visiting faculty member at the University of Science and Technology of China (USTC) in Shanghai; and recipient of NASA Space Act Award for Invention of Quantum Lithography is the 214th in The Trans-Pacific View Insight Series.

Briefly explain Chinas advances in quantum technology.

Chinas particular strength is in the area of quantum cryptography. It has a secure network running between Beijing and Shanghai with quantum local area networks around those to cities as well as Hefei and several others. Most famously, China has the space satellite Mozi, whose primary mission is to establish quantum cryptography across China. Quantum cryptography is unbreakable by any means even with a quantum computer. China was motivated to build this after the Snowden leaks and further motivated as other countries, such as the U.S., are quickly developing quantum computers that can hack anything not protected by quantum cryptography. They are also at the forefront of tests of the fundamentals of physics in space. In addition, with Mozi they have demonstrated quantum teleportation, that will be used in any quantum internet.

Analyze Chinas progress in the context of the U.S.-China tech race.

For some time, my position was that China was ahead in quantum cryptography and that the U.S. was ahead in quantum computing. This has changed. The U.S. company Google announced that they hit Quantum Supremacy on their superconducting quantum computer demonstrating that they can solve a problem on a quantum computer exponentially faster than on a classical computer. However, in a matter of days, University of Science and Technology in China announced that it had hit quantum supremacy with its all-optical quantum computer. At this point, China is now ahead of the U.S. with quantum cryptography and tied in quantum computing. I expect in five to ten years that China will be ahead of the U.S. in both categories.

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Describe the military and commercial applications of quantum technology.

Quantum technology has many applications. The two I have discussed, cryptography and computing, will have direct applications to either securing (quantum cryptography) or hacking (quantum computer) commercial or government data on the internet. However, quantum computers have applications to practical problems such as the design of new medications and the simulation of new electronic materials. Quantum cryptography will eventually lead to a quantum internet of distributed quantum computers secured by quantum cryptography. Another application of quantum technology is sensing and imaging. Both China and the U.S. appear to be pursuing a remote sensing technology called quantum radar but it is unclear how much of this is practical.

Identify key factors propelling Chinas quantum research.

As I mentioned, the rush to quantum cryptography was motivated by the Snowden leaks and the fear that the U.S. will have a code-breaking quantum computer first. But particularly in the group of Professor Pan Jianwei at USTC, the search for the fundamental workings of the universe independent of any immediate applications has always been a key direction in his research. With the Google and USTC announcements of quantum supremacy, we have reached a new era where quantum research will drive many if not most of the technological advances for the next 100 years. There is already a great interest in combining AI, which China is investing in heavily, with quantum computing a new Quantum Artificial Intelligence.

Assess the U.S. national security implications of Chinas strategy in developing quantum computing.

There are two right now that most worry the United States. The first is that in a few years, China will go dark behind a wall of quantum cryptography, and the U.S. will not be able to decode any of the information that is transmitted. The second is that the Chinese might develop the universal quantum computer first and be able to decipher all of the data being carried over the internet in the U.S. since the U.S. has almost no effort in developing quantum cryptography nationwide.

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Quantum Cryptography in the US-China Tech Race - The Diplomat

Encryption software used for Mobile market. Mobile device encryption offers an easy fix for the problem of data breaches, which are the top threat posed by lost or stolen smartphones and tablets.Encryption software is software that uses cryptography to make digital information difficult to read. Practically speaking, people use cryptography today to protect the digital information on their Mobile device as well as the digital information that is sent to another device over the Internet. Especially in recent years, the rapid development of mobile Internet, mobile terminals occupy peoples lives, followed by the mobile application security issues have gradually attracted peoples attention. The Mobile Encryption Market is expected to reach +30% CAGR during forecast period 2019-2025

The more advanced science and technology, the more we should pay attention to security issues. Increasing, and evolution of, advanced threats, the enhanced adoption of cloud services, mobile device proliferation, and virtualization are the major factors creating disrupting changes in the mobile encryption market. Growing implementation of cloud-based storage across enterprises to protect valuable electronic data, such as credit card numbers, personal contacts, and bank passwords, is increasing the demand for these solutions.

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On the basis of product, we research the production, revenue, price, market share and growth rate, primarily split into

Disk Encryption

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Communication Encryption

Cloud Encryption

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Mobile Encryption Market to its massive repository. It covers different existing and futuristic developments across the global regions such as North America, Latin America, Asia-Pacific, Europe, and India. In addition to this, it gives a complete analysis of some significant financial terms such as cost, shares, pricing structures and profit margins. Wide-ranging informative data has been examined by using exploratory techniques such as primary and secondary research.

For the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Mobile Encryption for each application, including

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It covers the blend of major points, which are fueling or limiting the growth of the companies. In addition to this, it focuses on some significant points, which helps to discover the global opportunities rapidly. Furthermore, it discusses the new projects SWOT analysis to get a complete overview of current scenarios. Upstream and downstream of the businesses have been analyzed to get proper direction to boost the performance of the companies.

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In this study, the years considered to estimate the size of Mobile Encryption are as follows:

History Year: 2013-2018

Base Year: 2018

Estimated Year: 2019

Forecast Year 2019 to 2025.

Table of Content:Mobile Encryption Market Research Report 2019-2025.

Chapter 1: Industry OverviewChapter 2: Analysis of Revenue by ClassificationsChapter 3: Analysis of Revenue by Regions and ApplicationsChapter 6: Analysis of Mobile Encryption Market Revenue Market Status.Chapter 4: Analysis of Mobile Encryption Industry Key ManufacturersChapter 5: Marketing Trader or Distributor Analysis of Mobile Encryption.Chapter 6: Development Trend of Mobile Encryption market 2019-2025.

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Astonishing Growth in Mobile Encryption Market is Projected to Grow at a CAGR of +30% Over the Forecast Period (2019 2025) by Dell, IBM, Blackberry -...

On 24 October 2019, China President Xi Jinping expressed strong support for blockchain, which was depicted as a core technology to promote Chinas industry innovation and digital economy development. In his speech, he also noted that blockchain technology has already been applied in a number of sectors like digital finance, internet of things, intelligent manufacturing and supply chain management, and that since China has a solid foundation of blockchain technology, it should seize the opportunity to build up blockchain industrial ecology and accelerate the integration of blockchain, AI, big data and other cutting edge technologies.

Chinese governments explicit positive stance related to blockchain and other cutting edge technologies was also confirmed by some specific regulatory announcements. For instance, on 26 October 2019, Cryptography Law of the Peoples Republic of China was formally passed by legislature and will be effective from 1 January 2020 to regulate data encryption and cyber-security. On 6 November 2019, Chinas National Development and Reform Commission removed cryptocurrency mining from the undesirable industry list, which might be indicative of the governments relaxation on cryptocurrency restrictions. However, on a cautionary note, on 18 November 2019, a department of China Banking and Insurance Regulatory Commission warned of the usage of blockchain in illegal fund-raising.

Australia and China have developed an increasingly cooperative bilateral and regional relationship in FinTech sector. For instance, in 2017, ASIC and China Securities Regulatory Commission entered into the Information-Sharing Co-operation Agreement, which, amongst other things, included the sharing of information on regulatory technology (RegTech) development, including experiences with trialling regtech solutions for regulatory purposes. In a recent speech by ASIC Commissioner Cathie Armour at the China Financial Submit 2019, Commissioner Armour introduced to the Chinese audience FinTech developments in Australian context and discussed ASICs participation in international networks.

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International FinTech Watch: China Announced Positive Stance on Blockchain Technology - Lexology

Telecom giant NTT Group is offering record pay to hire top scientists as it looks to match some of the basic research prowess of global powerhouses including Alphabet Inc. and Apple Inc.

The former Japanese telephone monopoly has set annual salaries of as much as $1 million (108.45 million) for researchers at its labs in Palo Alto, California, said Kazuhiro Gomi, president of the companys research arm. Thats more than the company pays its chief executive officer and 41-year veteran Jun Sawada, and a rare step for a traditional Japanese company like NTT.

The increased investment in basic science comes as NTT is regrouping its businesses to focus more on cloud computing services and data centers amid a dimming outlook for profit from its mainstay mobile phone carrier. Having star scientists on the labs payroll, backed by a 25 billion five-year budget, helps the group draw better technology workers and partners as it wages a global war for the top talent it needs to expand globally, Gomi said.

We are competing with companies like Google and Apple, said Gomi, explaining that the company had traditionally followed the Japanese norm of modest pay. It wouldnt be possible several years back.

Tatsuaki Okamoto, director of cryptography & information security for NTT Research, is an example of a star that has helped draw in other top researchers in encryption, where interest in cryptocurrencies has led to surging demand for expertise. Okamoto, an NTT R&D fellow since 1999, is known globally as a key researcher on block-chain technologies for cryptocurrencies.

The talent NTT is gathering is focused on cryptography, quantum computing and medical informatics in a bet that these fields can yield breakthroughs on a horizon of five years or more, said Kei Karasawa, vice president of corporate strategy for NTT Research.

The lab also needs big name scientists because for most top researchers, high pay alone isnt enough, said Karasawa. Scientists strongly prefer to work with the leaders in their field, he said.

Moreover, NTTs pay isnt at the top of the range in all fields. Oracle Corp., the software-maker racing to catch Microsoft Corp. and Amazon.com Inc. in cloud computing, offered a pay package worth $6 million to hire a single expert in artificial intelligence, Business Insider reported. And while $1 million a year dwarfs the pay of many IT professionals, its far less than what most chief executives make at global companies of NTTs scale.

That too is a contrast with Japan, where average CEO pay at top companies is less than $1 million, compared with more than 10 times that for the average U.S. boss of a big firm.

NTT is pushing for overseas growth while forecasting a 13 percent drop in net income at NTT Docomo Inc. this fiscal year, following a 16 percent decline in the previous year. NTT said it was forming a global technology and services provider by combining the capabilities of 28 of its companies including NTT Communications Corp., Dimension Data Holdings PLC and NTT Security Corp. The goal is to create a top 5 global technology and business solutions provider with $20 billion in revenue outside Japan, Sawada said at the time.

Cryptography, the science of encoding and decoding data to maintain privacy, is fundamental to the internets security and plays a role in blockchain and cryptocurrencies, two red-hot areas of research and development. Quantum computing, which uses properties of quantum mechanics to speed up processing, has the potential to help discover new drugs and improve the algorithms that shape industrial logistics and supply chains.

The third area, medical informatics, presents an opportunity to apply powerful computing technologies to mapping molecules in a way that can help scientists better understand viruses and how to combat them.

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NTT offers researchers $1 million salaries in bid to lure top talent in cryptography, quantum computing - The Japan Times

New tech offers entrepreneurs great opportunity to do something that has never been done beforebut ... [+] it comes with a tradeoff.

Over 500 million years ago, a spectacular array of new species emerged over a relatively short geological period. Called the Cambrian explosion, this era brought us most of the animal phyla we know today. Fast forward to modern times, and our most explosive periods of innovation are driven by technology. Once the basic infrastructure of the internet and mobile computing had been built out, for example, concentrated innovation brought us a wealth of new categories wed never seen before at scale (including software-as-a-service, social media, and the sharing economy). Now, in this moment, simultaneous and significant advancement across a range of powerful tech, including AI, IoT, robotics, cryptography and blockchains are launching us into another Cambrian-like explosion.

The Paradox Of Innovation At The Front Edge

This opportunity presents entrepreneurs with a paradox. This tech gives them an evolved, rich toolset with which to create first-of-their-kind companies. But with a technology still forming, and both the new business models it supports and regulatory landscape unclear, its extremely difficult to know in which direction to build.

Advice From A Founder Of Three Successful Firsts

For UC Berkeleys Silicon Valley Innovation Week, I discussed this paradox with Chris Larsen, founder of the first online lending company, Eloan (in 1996, a year before the domain Google.com was registered), the first US peer-to-peer lender, Prosper, and Ripple, an early player in blockchain-driven global payments. Here are a few insights that came from the conversation.

Chris Larsen and Alison McCauley discuss entrepreneurialism at the front edge of innovation for UC ... [+] Berkeley's Innovation Week.

1. Ignore The Experts: Trust Your Gut

One of the hardest parts of doing something that has never been done before is to know what to ignore, and what to take in. When you are forging new ground, you will have all these experts saying it is not going to work, it would have been done already, or that the big guys are going to kill you, described Larsen. But if its obvious, its probably too late. He spoke about how in the early days of the web, the common belief was that no one in their right mind would ever put financial data on the internet. The hardest thing is ignoring advice from people you respect. If they are saying its a great idea, it is probably too late. Yet, Larsen advised, Dont ignore the good advice. There may be a nugget that helps you adjust your model.

But how do you hone your inner compass? Larsen talked about how the real magic comes from finding new ways to connect the dots, which means entrepreneurs cant be too heads-down in their particular domain. He advised reading about the future, and looking for what really resonates with you. And he spoke about how he does a lot of writing, because it is so helpful for exploring different angles. Its the Stockdale Paradox, facing the brutal facts, but always having faith that it is going to work out. The faith is what gets you through.

2. Connect To Hearts Before You Build

Ive seen many early stage founders attempt a tech-first approach to their business: build cool technology, then try to connect it to hearts and minds. Larsen emphasizes the importance of honing your vision first. Dont start until you have that story perfected in a way that you can reach the hearts of really smart people, he explains. Only then can you effectively recruit for talent and raise funds. This is how you win: really great things happen when peoples hearts are in it. But, Larsen emphasizes, Its got to be genuine.

This ability to articulate such a strong vision for the future becomes essential when things get hard, a natural phase of any startup looking to do what is considered impossible. Before you get to product-market fit, there is always a little bit of stumbling in the dark. We call it crossing the desert. You only have a little bit of water, and maybe you are going in circles.

3. Build, Dont Disrupt

The hallways of Silicon Valley ring with talk of disruption. Disruption is a bad thing, asserts Larsen. Twenty years ago technology wasnt all that important in the world, but now its everywhere. In that setting, Talking about disruption, as if thats good, is incredibly arrogant. It sets a tone that everything else besides what we are doing is somehow bad. Its a toxic idea. I think we need to think of ourselves as builders, not disruptors. The world needs to be constructing and building things.

4. Cut The Lifeboats

Larsen shared how he wouldnt have started his first company if it werent for a Stanford business school professor saying a single sentence to him at just the right time: Cut the lifeboats. The professor was commenting about how, at that time, the graduates were making risk averse choices in their careers. Start companies, encouraged Larsen. If you fail, it will be good experience anyway, and you can get backed again. We are in a period of incredible change, so there is so much opportunity. So many domains are changing simultaneously, and the magic that can come from connecting this with that has never been greater. And there have never been more investors that want to back startups.

5. Know When To Replace Yourself

Few CEOs, Larsen explained, have both the skill set to sell the impossible dream in the early days and the discipline to take the company all the way. Once you get to product-market fit, if you dont have discipline, you are toast, says Larsen. The timing is crucial, he advises. Wait until you have demonstrated you have the right product, which will help you recruit the right person, but dont wait too long, Larsen explains.

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Want To Create A First-Of-Its-Kind Company? Five Tips For Success At The Front Edge Of Possible - Forbes

PHOTO:Joshua Ness

Recently, Google announced another major milestone in the development of Quantum Computing. According to Google, and despite skepticism from some of its competitors, the Mountain View, Calif.-based company announced that it had achieved quantum supremacy. While the announcement is still undergoing peer review by others in the industry, what no one is challenging is the progress being made in the development of technologies that will have implications for both public and private companies, and even for governments.

Roger A. Grimes, a data-driven defense evangelist at UK-basedKnowBe4 explained that the quantum supremacy is the moment in time when a quantum computer finally does something that a traditional, binary, classical, computer cannot. It can be achieved in terms of raw computational speed or performing even an otherwise ordinary math problem that a classical computer simply isn't capable of (i.e. it doesn't have to be speed related). Google's report seems to indicate it was a bit of both. According to the report Google was able to accomplish in three minutes using a quantum computer what the world's fastest computer would take 10,000 years to do.

Grimes explained that ever since Richard Feynman talked about using the fantastic properties of quantum mechanics to make a new paradigm of computing in 1959, the world has waited for the day when quantum supremacy would happen. The first quantum computer was made in 1998 and it has taken mankind another 21 years to get them to the point to where they will begin to take over tasks and new tasks that regular computers can't perform. After this moment, no serious large company, government, or country will want to stay on or focus on the older types of computers. There was a computer world before and there is now a new computer world, shiny and new, after, he said.

Yes, traditional computers will stay in our lives for decades to come, but a technological wall has been breached, and it means wondrous new things, both good and bad.

The result is that within the next decade, any company or organization without a quantum computer will be old.

Related Article:Will Quantum Computing Break Blockchain?

So why is this important? Quantum computers will allow us to better understand how the universe works. Quantum mechanics, particles, and properties are how everything in the universe works. Up until this point, it was impossible to model how everything in the universe (or multiple universes, for that matter) truly works. It's all been theory and speculation.

Now, with enough serious quantum computers, for the first time, we can literally model and figure out how everything that is works. We will get better weather prediction, better chemicals, better medicines with less side effects, better traffic management, better artificial intelligence, and better be able to predict and detect where scarce resources, like gas and oil, are. Everything can be better predicted and focused, he added.

Keep in mind at this point in time, though, that quantum supremacy is a technical term used by the academic community to mean when a quantum computer can do just one thing faster than a classical computer, Professor Yehuda Lindell,CEO and co-founder ofUnbound Tech.

However, this is not what we think about when we hear supremacy, nor is it really relevant to cryptography and other application domains. In particular, what businesses and other enterprises are really interested in knowing is when quantum computers will be able to solve hard important problems faster than classical computers, and when quantum computers will be able to break cryptography. I personally believe that this is many years away. I will say at least a decade, but I think it will be more like two decades at least. I also want to stress that this is still an if and not a when, he said.

Keep in mind, though, the fact that small quantum computers have been built does not mean that quantum computers at the scale and accuracy needed to break cryptography will ever be built. The problems that need to be overcome are considerable.

Related Article:Quantum Computing Brings Potential and Risk to the Enterprise

Alex Costas, software engineer of Tampa, Fla.-basedSchellman & Company, an independent security and privacy compliance assessor (www.schellmanco.com), points to some of the problems that quantum computers will be able to address in the future.

Quantum computing, he said, promises to solve problems and drive simulations that have been computationally or physically intractable with conventional hardware, such as simulating the interactions of a novel pharmaceutical in vivo, creating secret messages that destroy themselves when read, or covertly monitoring remote systems without the need for an internet connection. This may all sound well and good, except for the fact that internet security is for the most part predicated on the following assumption: it is hard to factor large numbers into their prime components, he said.

It is not so hard as it may seem. There are quite a few asymmetric schemes (e.g. NTRU, McEliece, etc) that don't rely on prime factorization for their difficulty and have no efficient quantum (or classical) solution yet. Aside from that, secret key cryptography (e.g. AES) is not affected by these kinds of attacks, and quantum effects can also be leveraged to protect these secret keys as well

All that said, quantum computing technology has the potential to be a major driver of futurebreakthrough advances in areas such as artificial intelligence and healthcare, according to Anis Uzzaman, CEO of San Jose, Calif.-basedPegasus Tech Ventures. Many of the opportunities for investments in hardware are now in the later stage, but the broader investment community should look out for the enabling technologies and software that will start to emerge for the hardware platforms.

The United States and China are the two heavyweights competing for leadership in quantum computing. While the United States has a first-move advantage and maintains a lead, China is making heavy investments in pursuit of a variety of breakthroughs. Quantum computing applications may not reach mainstream consumer applications for a little while longer, but there will definitely be a variety of companies across a range of industries that look integrate this technology over the next 3-5 years, he said.

Current quantum computers are far from where we need them to be for practical applications due to their high level of "noise" (errors), Leonard Wossnig, CEO of UK-based Rahko, wrote on a blogon the a Quantneo online magazine, the publication of a web community focusing on business applications for Quantum Information Science (QIS).

If we cannot find a way to use these current and near-term quantum computers, he wrote, we will need to wait for fully-error-corrected "universal" machines to be developed to see real significant benefit (15-20 years by many estimates). This is where the software becomes much more than a necessary complement to the hardware. Quantum software has the potential to significantly accelerate our pathway to practically useful quantum computers.

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Quantum Computing: Challenges, Trends and the Road Ahead - CMSWire

Precise Biometrics is looking to boost the security of its biometric algorithm solutions through a new partnership with Infinity Optics (or IO).

The latter specializes in cryptography, particularly what is called true biometric hash technology. This technology is designed to turn a given biometric profile into a scramble of data or a hash that can then be used in the biometric profiles place. This essentially means that an end users biometrics are decoupled from the authentication token, even as the biometrics remain the basis for authentication.

No biometric template needs to be stored, which means there is no template to be hacked; and a given hash can easily be revoked if need be, and replaced by an alternate hash.

Biometrics and cryptography have for a long time been operating in separate fields, asserted Precise Biometrics CEO Stefan K. Persson in a statement announcing the IO partnership. This, despite both being components that perform complementary functions used in secure identification. It is very exciting that we have initiated a collaboration with Infinity Optics, our goal is to be the first provider that combine the two fields successfully for fingerprint recognition.

That project will unfold through Precise Biometrics newfound access to IOs QuantumCrypt Platform, which will allow the company to begin adapting IOs biometric hash technology to be compatible with its own fingerprint algorithm tech. The companies asserted that they anticipate moving forward with multiple pilot projects within a few months, after which they expect to proceed to a commercialization phase of their joint solution.

November 13, 2019 by Alex Perala

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Precise Biometrics Looks to Boost Security with Cryptographic Hashing Tech - findBIOMETRICS