Banco Bradesco SA Trials IBM Quantum Resistant Encryption
(Enterprisetimes.UK) Banco Bradesco SA has been trialling quantum resistant encryption technology from IBM. The goal was to prove that the encryption was viable in the context of existing systems. To that end, the bank tested homomorphic encryption (HE) against two different scenarios using real-world data.
Those scenarios included taking transaction data from the bank and encrypting it using IBM’s Homomorphic Encryption libraries. The tests then sought to prove that once encrypted, it was possible to work with the data without decrypting it. This is a major step in how applications work with data.
This project is a hugely exciting moment for encryption and privacy. It is also very timely. NIST is pushing hard to get the next generation of encryption standards developed. Importantly, NIST sees lattice-based encryptions, such a homomorphic encryption. It has been focused on lattice-based encryption schemes such as homomorphic encryption as part of its post-Quantum planning.