Fun

News Feed - 2023-07-06 03:07:00

Tristan Greene5 hours agoHSBC trialing quantum-safe financial transaction network in the UKThe venerable British bank became the first to join BT (formerly British Telecom) and Toshiba’s secure quantum “metro” network in the United Kingdom.1049 Total views1 Total sharesListen to article 0:00NewsJoin us on social networksLondon–based HSBC, the eighth-largest bank in the world, will conduct a series of trials and experiments utitlizing quantum encryption technology in collaboration with Amazon Web Services, BT and Toshiba.


HSBC is the first bank to commit to trials on the new quantum “metro” network, a secure transaction system that utilizes unbreakable encryption to secure transactions via quantum cryptography.


Developed by Toshiba in partnership with telecom giant BT, the quantum metro network is designed to allow unconditionally secure transactions between institutions. HSBC will trial several use cases on the network, including financial transactions, video calls and edge computing.


One of the key quantum tech uses HSBC will experiment with is called “quantum key distribution” (QKD). This is essentially the secret sauce that allows two parties separated by distance to send information to one another in a secure manner.


QKDs are one-off encryption keys generated for both parties at the same time. Thanks to what Albert Einstein deemed “spooky action at a distance,” quantum states tend to collapse when measured. Thus, quantum data is deemed impenetrable. 


For the purposes of QKD, this means any attempt by an external party to view, eavesdrop, intercept or modify an equipped transaction would be instantly detectable by both parties.


Related:Researchers demonstrate ‘unconditionally secure’ quantum digital payments


Currently, there are technological limitations on the distance QKDs can be sent. When people send classical data — information meant for use by a traditional, non-quantum computer — over long distances through fiber optics, people can boost the signal strength of the photons carrying the data. 


However, photons carrying quantum data cannot be boosted, and they suffer from exponential loss due to the "noisy” nature of quantum information. This means that the longer the fiber optic network is, the less likely quantum data will survive transmission. Theoretically, the current limits can be overcome using higher-intensity photons, but scientists are just beginning to develop these solutions. 


Scientists in China, for example, published research in May 2023 indicating they’d successfully sent QKDs across 1,000 kilometers (621 miles) of fiber optic cable, a new world record for non-relay QKD.


The HSBC trials being conducted on the BT-Toshiba metro network won’t need that much runway, though. Per the announcement, the tests will occur over 62 kilometers (38 miles) of fiber optic cables in England, connecting the bank’s global headquarters in Canary Wharf to a data center in Berkshire.# HSBC# Business# Fintech# Encryption# Quantum ComputingAdd reactionAdd reactionRelated NewsWhat are fan tokens, and how do they work?Open source: Buzzword or real security for crypto wallets?Universities use blockchain-based storage to protect and democratize dataSequoia Capital announces three-way split to separate China businessUK to get ‘early or priority access’ to AI models from Google and OpenAINifty News: Queen, HSBC filings hint at NFTs, Yuga teases robot game and more

News Feed

Derek Andersen15 hours agoGalxe protocol experiences DNS attack, losses top $150K and still growingThe Web3 platform’s website has been restored, but the company still warns against using it. The hack may be linked to
Trump promises to become the ‘crypto president’ — Law Decoded
David Attlee4 hours agoTrump promises to become the ‘crypto president’ — Law DecodedThe former United States president is intensifying his cryptocurrency advocacy as part of his 2024 presidential campaign.1189 Tota
Cryptocurrency Futures and Prediction Markets Show Trump Wins the US 2020 Election
Cryptocurrency Futures and Prediction Markets Show Trump Wins the US 2020 Election In less than 270 days the United States will have its 2020 election and millions of people worl
New daily Runes etched on Bitcoin falls 99% from post-halving peak
Brayden Lindrea5 hours agoNew daily Runes etched on Bitcoin falls 99% from post-halving peakOnly 157 new Runes were etched on Bitcoin on May 13, which contributed to just $3,835 in transaction fees paid to Bitcoin miners
Pocket Network Advances Its Multichain Strategy With Latest Milestone
Pocket Network Advances Its Multichain Strategy With Latest Milestone press release PRESS RELEASE.TAMPA, Fla., June 27, 2022 /— Pocket Network, an infrastructure middleware p
Why are BTC traders bearish above $64K? 5 things to know in Bitcoin this week
William Suberg38 minutes agoWhy are BTC traders bearish above $64K? 5 things to know in Bitcoin this weekBitcoin is approaching price discovery — but traders and analysts are upping bets on a BTC price correction.1276
Bitcoin, Monero and Zcash Will Still Be Used in the Year 2414 According to Netflix’s Altered Carbon
Bitcoin, Monero and Zcash Will Still Be Used in the Year 2414 According to Netflix"s Altered Carbon Several cryptocurrencies such as bitcoin, monero and zcash were featured on th
Ubisoft teases new blockchain game at Paris Blockchain Week
Gareth Jenkinson6 hours agoUbisoft teases new blockchain game at Paris Blockchain WeekThe AAA game developer aims to launch its first blockchain-based game by the end of 2024.918 Total views16 Total sharesListen to artic
Blockchain Firm Animoca Brands Raises $358 Million to Enhance Web3 and the Metaverse
Blockchain Firm Animoca Brands Raises $358 Million to Enhance Web3 and the Metaverse Animoca Brands has announced the blockchain and cryptocurrency-focused firm has raised $358.8 m
Tokenized BTC Crosses $1B Notional: Ethereum Cements Role as Bitcoin’s Main Sidechain
Tokenized BTC Crosses $1B Notional: Ethereum Cements Role as Bitcoin"s Main SidechainYears ago when the Bitcoin network started suffering from higher fees and congestion, a number o
Anchor Nips at Aave’s Heels as Defi Protocol Becomes Second-Largest Lending Application
Anchor Nips at Aave"s Heels as Defi Protocol Becomes Second-Largest Lending Application While the decentralized finance (defi) platform Anchor Protocol’s native digital asse
Bitcoin to spend ‘considerable time’ at $66K, HODLing could change that
Ciaran Lyons5 hours agoBitcoin to spend ‘considerable time’ at $66K, HODLing could change thatBitcoin is just 12% shy of all-time highs, but a trader says it could stay in this zone for at least the next few months u