Fintech firm Perpetuals (NASDAQ: PDC) has recently introduced Quantum-Resilience-as-a-Service (QRaaS), which is described as a digital security product offering developed to assist financial institutions, trading venues, as well as global payment networks boost overall encryption against fast-emerging quantum computer threats without completely overhauling current systems.
Significant breakthroughs in quantum computing are now set to challenge the security of some of the most widely-adopted / implemented cryptographic systems.
Many of the current encryption techniques depend on mathematical problems and random number generation that may soon become easily breakable with sufficiently advanced quantum capabilities.
Research teams at Google Quantum AI have now determined that a superconducting quantum computing device may actually crack the elliptic curve cryptography that is securing Bitcoin and Ethereum transfers in around 9 minutes, using far fewer than 500,000 physical qubits needed before, hardware currently within the scaling range of platforms showcased in the testing lab.
Perpetuals’s QRaaS reportedly integrates with current systems, such as environments developed on globally-adopted cryptographic standards like RSA, AES, and TLS.
Rather than needing completely new algorithms or system-wide codebase modifications, the service reportedly enhances current key generation processes by providing so-called quantum-resistant entropy, improving the randomness, unpredictability, as well as overall digital security of cryptographic keys.
Included with this product offering, Perpetuals has created several different integration options around PCIe-enabled quantum random number generator (QRNG) hardware and software for deployment within client rack infrastructure, including colocation, managed server environments, as well as an Entropy-as-a-Service API.
Patrick Gruhn, Chief Executive Officer at Perpetuals, said that as quantum computing contineus to make advancements, existing encryption standards are vulnerable.
They added that sensitive data may be gathered right now and kept for decryption later, leading to a real security challenge for business organizations dealing with sensitive information.
Meanwhile, they noted that stronger entropy and resilient key generation are vital for enhancing cryptographic security right now, regardless of when quantum systems become fully mature.
QRaaS allows business organizations to boost their security right now, without the need for major changes to existing systems.
QRaaS is said to be hosted in carrier-grade data centers based in Germany and the US. The service includes built-in controls, monitoring, audit capabilities to enable / ensure compliance with applicable regulatory guidelines.