AES-128 Will Survive Cryptographically Relevant Quantum Computers Math Doesn’t Lie Ars Technica posted a bit of a delve into the math behind using a quantum computer to break AES-128 encryption and the news is good. The rumour has always been that QRQC will halve the amount of work needed to crack algorithms like AES-128, rendering it relatively quick to crack and that we would have to use AES-256 at the very least. However, that math does not check out. Two mathematicians tried to express the somewhat complex math by using much smaller numbers. Instead of the 3.4 x 10^38 possible combinations that AES-128 boasts, they reduced it to a possible 256 combinations for their examples. If you split the work four ways, then each of you could try 32 combinations which is a reasonable amount of work. However quantum computers do not behave the same as classic computers and when you assign several of them parallel tasks they use Grover’s algorithm to split the work. If you break apart the task between several quantum computers, the amount of tries they have to chew through ends up being the same, not half the tried as the doomsayers have been predicting. Follow the link to read “Quantum Computers Are Not a Threat to 128-bit Symmetric Keys” if you want to read a proper explanation of why AES-128 is not going anywhere … yet. “What makes Grover special is that as you parallelize it, its advantage over non-quantum algorithms gets smaller,” Valsorda said in an interview. More Tech News From Around The Web - CISA flags new SD-WAN flaw as actively exploited in attacks @ Bleeping Computer - Actively exploited Apache ActiveMQ flaw impacts 6,400 servers @ Bleeping Computer - Microsoft releases Windows Server update fix to fix its April update fixes @
Apr 21, 2026 · via pcper.com
Bringing quantum-centric supercomputing to Illinois IBM’s Hanhee Paik developed IBM’s first 16-qubit quantum computer and now leads IBM’s quantum initiatives across greater Chicago. We spoke to her about the new IBM-University of Illinois agreement, the future of computing, and how her career path has mirrored quantum’s remarkable rise. Superconducting qubits take many forms. The one at the heart of IBM quantum processors, the transmon qubit, is there partly because of Hanhee Paik. By figuring out how to improve the transmon qubit’s coherence time, Paik showed the world that a superconducting quantum computer was possible. IBM now operates a fleet of quantum computers worldwide based on her transmon qubit design. Today it’s Paik’s job at IBM to help researchers find innovative ways to use them. She currently oversees several projects in Chicago, including the National Quantum Algorithm Center (NQAC) that IBM recently established with the state of Illinois, and whose members include the University of Illinois Urbana-Champaign (UIUC) and the University of Chicago. IBM just signed a new agreement with UIUC to expand the Discovery Accelerator Institute, with the goal of advancing quantum-centric computing and developing algorithms that combine the strengths of HPC and quantum computing to achieve transformational results. IBM will give UIUC students and researchers access to IBM Quantum computers alongside UIUC’s National Center for Supercomputing Applications (NCSA) Delta and DeltaAI supercomputers. This “quantum-centric” architecture will allow researchers to test new algorithms and explore quantum use cases in the real world. Without algorithms, we can’t really use quantum computing to solve problems and develop the economy. Paik will help drive the agenda, drawing on her deep expertise in quantum systems and her growing knowledge of high-performance computing, picked up on a recent assignment in Japan. We recently caught up with her to talk about IBM’s collaboration with UIUC, and
Apr 21, 2026 · via research.ibm.com
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Apr 21, 2026 · via youtube.com
Sygaldry Technologies announced that it has raised $139 million across Seed and Series A financing rounds to develop quantum-accelerated AI servers designed to improve the speed and energy efficiency of artificial intelligence workloads. The funding includes a $105 million Series A round led by Breakthrough Energy Ventures in March 2026, following a $34 million seed round led by Initialized Capital. Additional investors include Y Combinator, RRE Ventures, IQT, University of Michigan, and several other venture firms and institutional backers. The company is focused on building quantum computing systems tailored specifically for AI applications, aiming to significantly accelerate training and inference while reducing the cost and energy demands associated with large-scale models. Sygaldry’s approach integrates quantum systems alongside classical infrastructure within data centers, enabling hybrid computing environments. The investment comes amid rapidly increasing demand for AI infrastructure, with industry estimates projecting trillions of dollars in capital expenditure and substantial new power generation capacity required to support future growth. Sygaldry is positioning its technology as a solution to these constraints by improving performance per watt and enabling more efficient computation. The company is also developing quantum algorithms designed to integrate with existing AI tools, allowing researchers to enhance current workflows while exploring new quantum-native approaches that could unlock capabilities beyond classical systems. Sygaldry is led by quantum computing pioneer Chad Rigetti, along with co-founder Michael Keiser and a team of experts in both quantum technologies and artificial intelligence. KEY QUOTES: “We’re building quantum computers that meet the specific requirements for AI processing, with the goal of enabling a fundamentally more efficient way of converting megawatts into intelligence.” Chad Rigetti, CEO and Co-founder, Sygaldry Technologies “The AI industry is advancing faster than ever and needs a breakthrough in performance per watt. Sygaldry’s vision for bringing quantum directly to the AI data center has
Apr 21, 2026 · via pulse2.com
Quantum computing is in the early innings of development, but it’s an industry that could offer explosive returns for investors who pick the right stocks. Rigetti Computing (RGTI 0.86%) stock is up 135% over the past year at the time of writing, but that has trailed D-Wave Quantum’s (QBTS 0.23%) 237% return. Both companies are losing money. But that’s not what’s important right now. It’s not about profitability but about which company can scale the fastest over the next five years. Rigetti Computing: Struggling to Regain Revenue Momentum Rigetti primarily earns revenue by building superconducting quantum computers and integrating them into public, private, or hybrid clouds through its proprietary software network. It secured international purchase agreements and faced a delayed system release, while reporting a net loss of $18 million for the quarter ended Dec. 31, 2025. D-Wave Quantum: Seeking Stability After Volatile Revenue D-Wave generates revenue by providing global access to its quantum computing systems, open-source programming tools, and professional onboarding services through a cloud-based network. It recently acquired an industry peer and signed enterprise commercial agreements, while reporting a net loss of approximately $42 million for the quarter ended Dec. 31, 2025. Why Revenue Matters for Retail Investors Revenue is the most fundamental measure of a company’s performance. Changes over time can indicate a company’s product marketability and its ability to reach more customers. Image source: The Motley Fool. Quarterly Revenue for Rigetti Computing and D-Wave Quantum | Quarter (Period End) | Rigetti Computing Revenue | D-Wave Quantum Revenue | |---|---|---| | Q1 2024 (March 2024) | $3.1 million | $2.5 million | | Q2 2024 (June 2024) | $3.1 million | $2.2 million | | Q3 2024 (Sept. 2024) | $2.4 million | $1.9 million | | Q4 2024 (Dec. 2024) | $2.3 million | $2.3 million
Apr 20, 2026 · via fool.com
The Next Quantum Milestone Last week brought some excitement to the quantum computing industry… The developments were a welcome relief after an excruciating several months. Since mid-October 2025, industry bellwethers like D-Wave (QBTS), IonQ (IONQ), and Rigetti (RGTI) have suffered gut-wrenching declines after extraordinary climbs in 2025, dropping 71%, 67.6%, and 77%, respectively, through the end of March this […] Last week brought some excitement to the quantum computing industry… The developments were a welcome relief after an excruciating several months. Since mid-October 2025, industry bellwethers like D-Wave (QBTS), IonQ (IONQ), and Rigetti (RGTI) have suffered gut-wrenching declines after extraordinary climbs in 2025, dropping 71%, 67.6%, and 77%, respectively, through the end of March this year. It wasn’t that there was any stall in progress in the industry, or at any of the affected publicly traded quantum computing companies. It was just that the sector had gotten way ahead of itself on the excitement of what quantum computing would bring, resulting in astronomical valuations that simply weren’t sustainable in the short term. Then came the tumble… A Nonsensical Prediction The “pop” happened on October 10, 2025, when IonQ raised an impressive $1.53 billion in a secondary offering. Incredible timing by IonQ to pull in a raise of that size days before the collapse. Those institutional investors are feeling the pain right now. 1-Year Chart of IonQ (IONQ) IonQ’s incredible raise followed on the heels of D-Wave’s $390 million secondary in June 2025 and Rigetti’s $346.7 million secondary in May 2025. Their success in the secondary offerings clearly gave IonQ the confidence to go very big on theirs. But the more than $2.26 billion raised across these three quantum computing companies acted like a clamorous warning bell that valuations were overheated, causing nearly everyone to dump stocks in quantum computing companies.
Apr 20, 2026 · via brownstoneresearch.com
"100x faster than traditional tools": Scientists load quantum computer with first complete genome to crack biology’s 'impossible' puzzle — in time for World Quantum Day It's an important step towards managing large and complex genetic data Sign up to the TechRadar Pro newsletter to get all the top news, opinion, features and guidance your business needs to succeed! You are now subscribed Your newsletter sign-up was successful Join the club Get full access to premium articles, exclusive features and a growing list of member rewards. - Complete Hepatitis D genome encoded into quantum processor as proof-of-concept milestone - Researchers target future 100x speedups for complex human pangenome analysis tasks - Scientists caution practical quantum genomics still faces scaling and hardware limitations Scientists have loaded a complete genome onto a quantum computer for the first time, taking an early step toward tackling biological problems that easily overwhelm traditional systems. In time for World Quantum Day, teams from the Wellcome Sanger Institute and the universities of Oxford, Cambridge, and Melbourne encoded the full Hepatitis D virus genome into quantum hardware. The Hep D virus carries a compact genome of roughly 1,700 base pairs, making it suitable as a proof-of-concept target. Article continues belowCompressing genetic information into quantum states Researchers used the smaller dataset to test whether real biological data could be translated into a format that quantum machines can handle. The genome was loaded onto an IBM quantum computer using its 156-qubit Heron processor. Successfully encoding the sequence required compressing the genetic information into quantum states that could fit within available qubit limits. Traditional computers have struggled to keep pace with the surge of genomic data, creating processing bottlenecks that limit how quickly scientists can analyze variation across populations. The move toward pangenomes, which combine sequences from many individuals, adds additional complexity.
Apr 20, 2026 · via techradar.com
Aspiring pot companies had big dreams for Florida. Reality has hit hard. Florida is all about freewheeling fun in the sun — except when it comes to marijuana. And the state’s pot businesses are learning that the hard way. When the Florida agency responsible for approving medical marijuana licenses began accepting applications for 22 state licenses for selling and growing, applicants envisioned a market destined for adult recreational use, with heavy federal restrictions dialed back. But three years later, those dreams seem long gone. More from Politico. UM students get a boost to expand their businesses The third annual USTAAR Pitch Competition awarded $100,000 each to five promising student teams for their ingenious startup ideas and potential. Founded in 2024 with a generous donation from alumni Angel and Victor Alvarez, USTAAR has so far offered small-scale Ignite or Catalyst awards to nearly 70 student startups. These groups spend months working with USTAAR staff and local mentors to develop a prototype before the spring pitch competition. More from Refresh Miami. Winn-Dixie expands grocery delivery across Florida with Amazon partnership A major expansion between Amazon and Winn-Dixie is set to reshape how Floridians shop for groceries. Same-day delivery is now available to the majority of households across the state. The partnership, which launched in late 2025 in select markets, has rapidly scaled into nearly every major metro area in Florida, signaling strong demand for online grocery options tied to familiar local brands. More from the Florida Times-Union. New hangar at Punta Gorda Airport promises 200 new jobs Now in its final stage of construction, NAS MRO Services will soon open a large maintenance, repair and overhaul hangar at Punta Gorda Airport, bringing about 200 high-paying jobs to Charlotte County. Economic Development Director Kay Tracy told county commissioners during an April 14 update
Apr 20, 2026 · via floridatrend.com
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Apr 20, 2026 · via youtube.com
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Apr 20, 2026 · via youtube.com
Abstract Existing quantum processors contain far fewer qubits than the millions required to ensure that their economic value exceeds their cost, the point known as utility scale. Scaling these systems will involve surmounting several engineering challenges, such as the large-scale co-integration of qubits with low-power control electronics and the management of device variability. Many of these challenges have already been addressed by the complementary metal–oxide–semiconductor (CMOS) industry, which makes semiconductor spin qubits particularly promising for utility-scale quantum computing because of their inherent compatibility with industry processes. In this Review, we discuss the overlap between state-of-the-art semiconductor spin-qubit systems and the very-large-scale integration principles of the CMOS industry, identifying the main differences in terms of operation, materials and system requirements to bring spin-qubit systems to CMOS foundries. This relationship stands in contrast to other qubit systems that are being retrofitted for CMOS compatibility. We show that close collaboration between spin-qubit experts and their CMOS industry partners will accelerate the industrial-scale production of fault-tolerant processors. Key points - The quantum computing industry has begun to recognize that existing semiconductor manufacturing processes will be essential for scaling quantum devices into full-scale quantum computers containing millions of qubits. - The many modalities being explored as candidate qubits show varying degrees of compatibility with complementary metal–oxide–semiconductor (CMOS) technologies, the long-established industry standard. - Semiconductor spin qubits align naturally with CMOS processes, owing to their submicrometre footprint, planar layouts and electrostatic control. - However, some spin qubits impose requirements that diverge from standard CMOS practice, including millikelvin operation and unconventional material stacks. - Building quantum computers that provide true commercial value will require close co-design between the quantum and semiconductor industries, aligning fabrication, design rules and system architectures, rather than retrofitting one to the other. This is a preview of subscription content, access via your institution
Apr 20, 2026 · via nature.com
Cryptocurrency and blockchain experts, investors, financial advisors appear unfazed by immediate threats to the Bitcoin blockchain posed by quantum technology. Google has issued a white paper urging the Bitcoin community to take urgent action to upgrade blockchain security as advances in quantum technology increase the risk of fraudulent transactions and theft. New Zealand Blockchain Forum executive director Trevor Topfer said quantum computing posed a greater risk to global financial systems than to Bitcoin. Topfer said the blockchain community was working at pace to secure blockchains against the quantum threat, and Bitcoin was no exception. "It's easy to point the finger at Bitcoin, but I think that there's a lot of other things that are a much bigger fish to fry than Bitcoin. "Less than 5 percent of the world's population owns Bitcoin. "It's a small threat to a small group of people when the entire world trades on SWIFT rails (Society for Worldwide Interbank Financial Telecommunication), which would be much easier for quantum computing to undermine at a global scale than Bitcoin." Topfer said quantum can break anything it goes after, with the threat probably coming much faster than current estimates. "There's no way we can let quantum loose on the financial system, because it will disrupt the entire financial system, whether it's Bitcoin, whether it's fiat currency, whether it's Swift, whatever function within the financial system that Quantum goes after, it can hack and overcome and break. That's the problem. That's the quantum threat." However, he said anything quantum breaks would make it stronger. "If you turn a quantum computer at blockchain to crack it, you can also turn a quantum computer at blockchain to build it right?" Blockchain seen as reshaping global infrastructure Blockchain was invented to facilitate Bitcoin transactions, and had expanded to serve as a secure
Apr 20, 2026 · via rnz.co.nz
Lawrence Livermore National Laboratory (LLNL) has been selected to lead a project that will receive $4.1 million in funding from the U.S. Department of Energy Advanced Research Projects Agency-Energy (ARPA-E) as part of the Quantum Computing for Computational Chemistry (QC3) program. QC3 seeks to develop and apply quantum algorithms to accelerate simulations of chemistry and materials science to advance commercial energy applications ranging from superconducting power lines, advanced batteries, engineered rare-earth magnets and breakthrough catalytic systems. LLNL will develop quantum and machine learning-accelerated software tools and apply them to discovering ultra-strong, lightweight magnets that are crucial for electronic motors, generators and high-performance information technology. The core innovation is a hybrid classical-quantum algorithm that can accurately predict material performance. The result could have a huge impact on how America uses energy. "Anytime you want to convert energy between electrical forms and mechanical forms, like in wind turbines, electric vehicles or hydro power, you need to have a magnet that mediates that process," said LLNL scientist and project lead Ilon Joseph. "If we can do much better calculations of magnetic materials science, we can find new kinds of magnetic materials that can power our energy technology." New magnet materials could circumvent China's critical material supply chain and offer improvements in terms of weight, strength, robustness and resistance to corrosion. Even slight enhancements could also decrease the resources needed to power artificial intelligence (AI) and information technology (IT). Much of the energy consumption in AI and IT comes from writing and erasing information stored in memory. For MRAM-based chips, which store data using magnetic states, reading and writing requires flipping the magnetization of tiny thin-film magnets. Because AI and IT are predicted to dominate U.S. electricity consumption by the end of the decade, magnetic memory that takes less energy to flip - even
Apr 20, 2026 · via miragenews.com
The IPO market is entering uncharted territory in 2026, with potential listings from hectocorns in the AI and space sectors representing an estimated $1.4 trillion in combined market cap – raising timing and attention questions for all other companies on the path to IPO. Chris Weekes, Managing Director at TD Cowen, talks with Orrick’s Albert Vanderlaan about how these mega-cap IPOs will reshape the capital markets landscape, the resurgence of SPACs, and the sectors drawing the most investor attention – from defense tech and AI infrastructure to nuclear energy and quantum computing. Chris Weekes Last year was the year of the billion-plus IPOs. This year is the year of the mega IPO. Albert Vanderlaan Hi, my name is Albert Vanderlaan and I'm pleased to be back here once again with Chris Weekes, managing director at TD Cowen, which is a division of TD Securities. Chris Weekes Good to be back with you. I have about 25 years in the industry – equity capital markets. I currently run our tech, industrials, and equity capital markets, as well as our SPAC business. Albert Vanderlaan We're sitting here a few days after the conflict in the Middle East has kicked off here. Would love to get an initial impression of what you're seeing in the markets; what do we think this is going to do from an overall outlook perspective as we look at 2026? Chris Weekes I think we launched the attacks on Saturday, and the market is across the board flat to actually up a little bit as I was walking in here. There was a bout of volatility for sure – the S&P dropped about 3% – but then we’re bouncing back. I think we're up about 100 basis points today. So, while there's some intraday volatility, overall it seems
Apr 20, 2026 · via jdsupra.com
BQP, the quantum software company making high-performance simulation possible on today's and forthcoming infrastructure, expressed support for U.S. Senator Kirsten Gillibrand's Advancing Regional Quantum Hubs Act, introduced on World Quantum Day at the Innovare Advancement Center during a regional visit that included a tour of the Griffiss Institute earlier this week. The legislation would codify and accelerate exactly the kind of regional collaboration that has made Upstate New York one of the most consequential quantum ecosystems in the country. Read the Senator's full press release here. The legislation would amend the National Quantum Initiative to require support for regional quantum innovation initiatives and enhance educational and research capabilities in regions with strengths in quantum fields. Companion legislation was introduced in the U.S. House of Representatives by Representatives Laura Gillen (D-NY) and Jay Obernolte (R-CA). "Senator Gillibrand's legislation recognizes that regional collaboration is the heartbeat of the quantum age. This Act incentivizes New York's world-class startups, academia, and industrial leaders to unite and leverage our greatest regional advantage to accelerate both breakthrough science and the real-world ROI of quantum technologies," said Abhishek Chopra, BQP Founder & CEO. "Strengthening these local partnerships doesn't just build technology; it secures our nation's future and ensures New York plays a leading role in that success." Senator Gillibrand underscored the national stakes of the legislation. "Quantum technologies have vast potential to help protect Americans, strengthen national security, and drive economic growth," said Senator Gillibrand in a press release here. "The Griffiss Institute, along with the bevy of other innovations they are at the forefront of, are leaders in this sector. Providing regional quantum innovation initiatives with increased federal support will help make sure that communities in New York and across the country have the resources they need to innovate, compete, and lead. New York is at
Apr 20, 2026 · via azoquantum.com
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Apr 20, 2026 · via youtube.com
Alliance Global Partners analyst Brian Kinstlinger has reaffirmed a Buy rating on Rigetti Computing as the quantum computing sector extends a notable recovery rally, with RGTI shares climbing more than 1.85 percent on Friday April 17 amid broader enthusiasm triggered by Nvidia’s introduction of its new Ising AI model earlier in the week. The Nvidia development, which launched an AI-powered workflow designed to address quantum error correction — one of the field’s most stubborn technical barriers — sparked four consecutive days of gains across the quantum sector, with Rigetti posting a single-session surge of 13.28 percent to $19.11 on Wednesday before consolidating through the end of the week. The Ising model is not a quantum computing product itself but rather a tool for automating the calibration and decoding processes that sit at the heart of why quantum computers currently produce unreliable outputs at scale. Analysts interpreted Nvidia’s involvement as a validation of the sector’s commercial relevance, countering earlier narratives suggesting practical quantum advantage remained decades away. Rigetti’s own news flow has also been constructive. The company announced the general availability of its Cepheus-1-108Q system, currently its highest qubit-count hardware, on both its own Quantum Cloud Services platform and Amazon Braket. The system, built on a chiplet-based architecture using twelve interconnected 9-qubit modules, represents the industry’s largest modular quantum computing system according to the company. The stock remains more than 66 percent below its 52-week high of $58.15, and its fundamental picture is stark. Full-year 2025 revenue came in at $7.1 million — down 56 percent year on year — against a market cap that was around $4.7 billion as recently as early April. The Q4 quarterly revenue figure was $1.9 million. Cash stands at approximately $589.8 million, providing three to four years of runway at current burn rates. The consensus
Apr 20, 2026 · via foreignpolicyjournal.com
New Breakthrough In Quantum Computers Could Completely Change How Much They Cost Practical quantum computers, once thought to be decades away, now appear to be much closer than anticipated, thanks to the work of researchers at Caltech and ETH Zurich. Quantum computers are creating huge ripples in the scientific and tech communities largely because of their potential to outperform standard computers in a number of arenas. Quantum computing could lead to the discovery of new drugs and treatments (through advanced protein folding and analysis of reaction pathways), financial prediction models that could reshape Wall Street, or energy grid optimizations that may help alleviate the global energy crisis. Troublingly, they may also lead to the ability to crack some of the most popular existing encryption methods, which could lead to vulnerabilities in industries like banking and data security. The breakthrough at Caltech demonstrates that a practical quantum computer built around only 10,000 to 20,000 qubits may be possible, instead of the millions once thought necessary. This means quantum platforms that are both easier to develop and less expensive to manufacture. Simultaneously, advances by researchers at ETH Zurich show how neutral-atom platforms (the kind used in the Caltech research) can prove remarkably error-resistant, one of the other major hurdles preventing practical development of quantum computers. Why fewer qubits matter Qubits are the quantum equivalent of bits in traditional computing. Unlike traditional bits, however, which can only exist in one of two states (0 or 1), qubits are capable of existing in both simultaneously. They also have other properties that sound like magic, including what Albert Einstein referred to as "spooky action at a distance": the ability to entangle with another qubit, so that changing the state of one instantly changes the state of the other, even though they may be separated by
Apr 20, 2026 · via bgr.com
The week ending April 17 was one of the strongest in 2026 for US equities, with the Dow Jones closing at 49,447 and the S&P 500 extending its record run above 7,000. Within that rally, these five names had distinct individual narratives shaping their moves. Oracle Corporation (ORCL) — ~$174, recovering from prior week lows Oracle (NYSE: ORCL) had a significant week earlier, surging more than 11 percent on April 13 after announcing an expanded partnership with Bloom Energy that could see Oracle procure up to 2.8 gigawatts of fuel cell systems for its data centres, with 1.2 gigawatts already contracted. The stock pulled back by Friday to around $174 after touching intraday highs near $185 on April 18, but analysts remain broadly constructive. D.A. Davidson’s Gil Luria said Oracle is “in very good shape in the AI landscape but still needs execution.” The stock has a 52-week range of $121 to $345, reflecting how dramatically its fortunes have swung as AI data centre demand expanded and then investors grew cautious. Earnings are due June 16. Applied Digital Corporation (APLD) — ~$31, up significantly from lows Applied Digital (NASDAQ: APLD) has recovered from a March selloff to trade around $30-$31, giving it a market cap of approximately $9 billion. The AI data centre operator posted stronger-than-expected fiscal Q3 results in April, with revenue of $126.6 million versus a $76.6 million estimate, and delivered adjusted EPS of nine cents against expectations for a loss of ten cents. The company amended its CoreWeave data centre lease in March and has been building out capacity at pace. The 52-week range of $3.81 to $42.27 illustrates the violent swings the stock has been through. Twelve analysts carry a Strong Buy consensus with a $37.75 average price target. With 205 employees, APLD is a lean
Apr 20, 2026 · via foreignpolicyjournal.com
Listen to this article in summarized format Experts warn that quantum computing could become so powerful over the next few years that it will be able to break the most sophisticated of encrypted systems within seconds. According to industry estimates, India's banking and telecom sectors may need to spend up to ₹2,000 crore each over the next five to seven years to upgrade their cybersecurity and computing infrastructure and make them quantum-ready. India has set aside ₹6,000 crore for its National Quantum Mission (NQM), which will aim to build a 2,000-km quantum communication network by 2030-31. A report by Citi Bank puts the loss to the US economy at up to $3.3 trillion in indirect impact at just one of the large banks. Regulators in the US, Europe and the G7 want banks to start tightening security of their computing infrastructure now, with many targeting critical systems by 2030 and full migration by 2035. Globally, large lenders such as JPMorgan Chase, Goldman Sachs, Barclays, HSBC and payment firms like Mastercard are already testing quantum-safe encryption to protect customer data and payments. Quantum-resistant encryption can help banks protect customer records, payments, ATM networks, mobile apps and inter-bank communication. Punjab National Bank is pursuing "Quantum-Proof Systems for Public-Facing Applications" in 2026 to safeguard its digital financial infrastructure against the risks posed by quantum computing. Kolkata-based UCO Bank is looking to develop a real-time, audio forensics module that analyses the spectrogram of a live call to detect fraudsters cloning a customer's voice by capturing just a few seconds of audio and bypassing voice biometric passwords or fooling call-centre agents into transferring funds. State Bank of India, the country's largest lender, is partnering with the Indian Institute of Technology, Jodhpur, on tackling fake mobile apps distributed through WhatsApp and SMS that lead to phishing
Apr 20, 2026 · via m.economictimes.com