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Cambridge Quantum (CQ) Says it Has Developed a “Quantum-Safe” Method to Future-Proof the Blockchain

By IQT News posted 12 Aug 2021

(ZDNet) Quantum software company Cambridge Quantum (CQ) says it has developed a “quantum-safe” method that could future-proof any blockchain by making the system invulnerable to quantum attacks.
CQ partnered with the Inter-American Development Bank (IDB) and its innovation laboratory IDB Lab, which has been actively investing in blockchain technology to support social and economic applications in Latin America and the Caribbean.
Specifically, IDB Lab has developed LACChain, a blockchain platform leveraged by more than 50 organizations in the region for use cases ranging from cross-border e-money payments to exchanging data between different countries’ customs administrations.
CQ implemented a quantum-safe security layer to LACChain that has made the system secure from future quantum computers.
To do so, CQ deployed its own commercially available platform to protect against quantum threats, called IronBridge, to LACChain.
Blockchain’s vulnerability to quantum computers comes from its extensive reliance on cryptography.
Quantum computers are still an emergent technology, and they are nowhere near mature enough to reveal any secrets just yet. But scientists have already identified some quantum algorithms, namely Shor’s algorithm, which have the potential to eventually break existing security protocols.

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