ID Quantique & Mt. Pelerin Present First Proof of Concept of the Quantum Vault Digital Asset Custody Project
(EINPresswire) A Quantum Key Distribution (QKD) network has been deployed and is live in Geneva as a testing environment for the Quantum Vault, the ultra-secure digital asset custody project designed by Mt Pelerin in cooperation with ID Quantique for financial institutions.
In October 2019, ID Quantique (IDQ), the leader in quantum Safe crypto solutions, Mt Pelerin, the Swiss leader in asset tokenization received funding from the European Union as part of OPENQKD, a secure quantum communication infrastructure research project, to develop the Quantum Vault as a use case for the project.
The Quantum Vault is a partnership between ID Quantique and Mt Pelerin to combine their expertise and build a custody infrastructure in Geneva. The Quantum Vault aims at providing ultra-secure storage of digital assets for financial institutions such as central banks, global custodians, cryptocurrency exchanges and asset managers by adding an extra layer of quantum technologies on top of conventional custody solution.
The first proof of concept of the Quantum Vault was presented March 27 in Geneva during a joint webinar by ID Quantique and Mt Pelerin. It relies on a QKD infrastructure provided by IDQ and transported over SIG (Services Industriels de Genève) optical fiber network in Geneva. SIG is hosting the central QKD node of this network.