Country for PR: United Kingdom
Contributor: PR Newswire Europe
Tuesday, August 10 2021 - 22:00
AsiaNet
IDB Lab, Cambridge Quantum And Tec de Monterrey Develop Blockchain Resistant To Quantum Computing
CAMBRIDGE, England, Aug. 10, 2021 /PRNewswire-AsiaNet/--

The Inter-American Development Bank and its innovation laboratory, IDB Lab, 
together with Cambridge Quantum (CQ) and Tecnologico de Monterrey have 
identified and resolved potential threats to blockchain networks posed by the 
advent of quantum computer development. In response to these threats, the 
project team developed a cryptographic layer that allows blockchain networks to 
protect themselves from this new generation of computing technologies.

Four potential threat areas for blockchain networks have been identified, 
including communication between network nodes and the integrity of digitally 
signed transactions. Each threat area relies on cryptography and keys which are 
vulnerable to attacks by quantum computers and needs to be improved to ensure 
the security and integrity of blockchain networks.

To address these threats, a post-quantum cryptography layer that protects 
networks and offers resistance to quantum computer attacks was developed on the 
LACChain Besu blockchain network, based on Ethereum technology. Transactions 
and communications were protected with quantum-proof keys from CQ's IronBridge 
platform, which uses quantum computers to generate certified entropy.

"While certain quantum algorithms allow for breaches of digital security 
protocols, luckily we also have others we can use to strengthen our data 
protection capabilities," said Salvador E. Venegas-Andraca Professor-Researcher 
and Director of the Quantum Information Processing Group of Tecnologico de 
Monterrey.

Duncan Jones, Head of Quantum Cybersecurity at CQ, emphasized that "LACChain 
blockchain was an ideal target for keys generated by our IronBridge platform. 
Only keys generated from certified quantum entropy can be resistant to the 
threat of quantum computing."

Irene Arias Hofman, CEO of BID Lab, said that "in the digital age in which we 
find ourselves we have at our disposal different emerging technologies with the 
capacity to solve social problems, and to the extent that we are able to 
combine them we will achieve an exponential impact. In this case, the knowledge 
of the IDB team, together with CQ and TEC, in both quantum and blockchain 
technologies, has made it possible to achieve a fundamental milestone to 
guarantee the future integrity of LACChain, a blockchain platform created by 
the IDB Lab which more than 50 entities in the region are using already."

For more information, see the technical note documenting this milestone here 
(https://arxiv.org/abs/2106.06640).

About IDB Lab

IDB Lab is the innovation laboratory of the IDB Group, the main source of 
financing and knowledge for development focused on improving lives in Latin 
America and the Caribbean. The purpose of IDB Lab is to promote innovation for 
inclusion in the region, mobilizing financing, knowledge and connections to 
test private sector solutions at an early stage with the potential to transform 
the lives of vulnerable populations by economic, social and environmental 
conditions. Since 1993, IDB Lab has approved more than US$2 billion in projects 
deployed in 26 countries in Latin America and the Caribbean. www.bidlab.org

About Cambridge Quantum

Founded in 2014 and backed by some of the world's leading quantum computing 
companies, CQ is a global leader in quantum software and quantum algorithms, 
enabling clients to achieve the most out of rapidly evolving quantum computing 
hardware. CQ has offices in Europe, USA, and Japan. On 8th June 2021, CQ 
announced a merger with Honeywell Quantum Solutions which is expected to close 
in Q3 2021. For more information, visit CQ at http://www.cambridgequantum.com 
and on LinkedIn (https://www.linkedin.com/company/21661539/). Access the tket 
Python module on GitHub (https://cqcl.github.io/pytket/build/html/index.html).

About TEC de Monterey

Tecnologico de Monterrey was founded in 1943 thanks to the vision of Don 
Eugenio Garza Sada and a group of entrepreneurs who formed a non-profit 
association called Enseñanza e Investigacion Superior, A. C.

Tecnologico de Monterrey is a private, non-profit, independent institution with 
no political and religious affiliations.

The work of Tecnologico de Monterrey and all its campuses is supported by civil 
associations made up of a numerous group of outstanding leaders from all over 
the country who are committed to quality in higher education. https://tec.mx/

Source: Cambridge Quantum Computing