JPMorgan Chase Publishes Research on Blockchain Networks Resistant to Quantum Attacks

U.S. banking giant JPMorgan has published research on a quantum key distribution (QKD) blockchain network that has found it to be resistant to quantum computing attacks.

QKD utilizes quantum mechanics and cryptography to enable two parties to exchange secure data and to detect and defend against third parties attempting to eavesdrop on the exchange. The technique is seen as a viable defense against possible future blockchain hacks by quantum computers.

JPMorgan, along with Toshiba and Ciena, will collaborate to deploy and test the QKD blockchain, according to a Feb. 17 statement.

"Currently, QKD is the only solution that has been mathematically proven against potential attacks based on quantum computing, and its security guarantees are based on the laws of quantum physics," the statement read.

The research was conducted for metropolitan use and has yielded notable results such as "capable of supporting 800 Gbps data rates for mission-critical applications under real-world environmental conditions."

"The proof-of-concept network infrastructure relies on Toshiba's multiplexed QKD system, manufactured by Toshiba Europe at its Cambridge, U.K., site, and Ciena's Waveserver 5 platform, equipped with 800 Gbps optical layer encryption and an open API running on Ciena's 6500 Photon solution.

Marco Pistoia, an engineer at JPMorgan and head of the FLARE Research group, emphasized the importance of developing a secure blockchain infrastructure before quantum computing hits the market:

"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 for technologies such as blockchain and cryptocurrencies for the foreseeable future."

JPMorgan has been ramping up its blockchain initiatives of late, with Cointelegraph reporting earlier this week that JPMorgan became the first bank to officially launch in the Metaverse. It now has a virtual lounge in the popular cryptocurrency-backed virtual world Decentraland, and the company appears bullish on the metaverse, calling it a $1 trillion opportunity.

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