Dutch bank ABN AMRO has partnered with quantum technology group Qutech to get ahead of the technology and use it to improve security for banks. The two parties are working to develop a technology called Quantum Key Distribution (QKD) to tackle security issues head-on, including those posed by quantum computers.
The technology uses a “quantum-distributed” key along with a lengthy message to create encrypted text that can’t be broken without the key. The “quantum-distributed” key would measure photons in a quantum event.
Qutech is a research group that aims to create and use quantum technology in a way that benefits society. The two companies already have plans to implement QKD in the near future. (pymnts.com)
