JP Morgan Chase Expands Blockchain Focus with New Research on QKD Network Invulnerable to Attack
Continuing to ramp up its blockchain initiatives, U.S. financial services giant JPMorgan Chase recently shared new research on a quantum essential distribution blockchain network that resists quantum computing attacks. JPMorgan Chase worked with Toshiba and Ciena on the quantum key distribution (QKD) blockchain, which brings together quantum mechanics and cryptography to allow secure data exchange that can notably prevent third-party eavesdropping or attack.
The first-of-its-kind QKD network for metro areas, which can support 800 Gbps data rates and operate for distances up to 100 km, can detect and defend against potential blockchain threats.
According to the announcement, “At this time, QKD is the only solution that has been mathematically proven to defend against a potential quantum computing-based attack, with security guarantees based on the laws of quantum physics.”
The network’s infrastructure used Toshiba’s Multiplexed QKD System and Ciena’s Waveserver 5 platform.
“This work comes at an important time as we continue to prepare for the introduction of production-quality quantum computers, which will change the security landscape of technologies like blockchain and cryptocurrency in the foreseeable future,” stated Marco Pistoia, Ph.D., distinguished engineer and head of the FLARE Research group at JPMorgan Chase.
JPMorgan continues to expand its blockchain focus and was the first bank reported to officially launch in the metaverse, hosting a virtual lounge in Decentraland.
The full research paper on the QKD network can be viewed at https://arxiv.org/abs/2202.07764.