Shielding Trillions: Quantum-Proofing Finance's Future
The finance world is stepping up its game against a looming threat: quantum computers. BOLTS Technologies, a cybersecurity innovator, has teamed up with the Canton Network to test a new shield for digital transactions. This isn't just any test; it's a trial run for protecting trillions of dollars in real-world assets from future quantum attacks.
The Quantum Threat
Quantum computers, once they become powerful enough, could crack current encryption methods like a nut. This is what experts call "Q-Day." To fight this, BOLTS has developed QFlex, a software that makes blockchain transactions quantum-resistant. Imagine a world where your digital assets are safe, even when quantum computers are a reality. That's what QFlex aims to achieve.
The Canton Network: A Perfect Testing Ground
The Canton Network, a blockchain built for big finance, is a perfect testing ground. It handles over $4 trillion in repos every month. With the EU's PQS 2030 rules coming into play, the network needs to be ready for post-quantum cryptography. BOLTS' QFlex could be the answer, allowing users to switch cryptographic algorithms without changing the code.
Industry Experts Weigh In
Bernhard Elsner, Chief Product Officer of Digital Asset, sees big potential in QFlex. He believes it could strengthen the Canton Network's security and help it adapt to future rules. Yoon Auh, CEO of BOLTS, is proud of their technology being tested on such a large scale. He stresses the urgency of preparing for Q-Day, given the massive amounts of digital assets at stake.
How QFlex Works
QFlex works on the SDFT protocol, which offers cryptographic agility at the transaction level. This means asset owners can respond to new threats in real time. Unlike other solutions, QFlex is flexible and user-controlled. It's not just about protecting transactions today, but ensuring they're safe tomorrow.
BOLTS Technologies: A Leader in Advanced Security
BOLTS Technologies is no stranger to advanced security solutions. Their sister company, NUTS Technologies, has developed scalable privacy solutions. QFlex has even won grants from major U.S. institutions for its cutting-edge cryptographic technologies. With over 30 international patents, BOLTS is serious about future-proofing digital finance.
