Toshiba aims to generate $ 3 billion in revenue from quantum cryptography by 2030

Image Source: Toshiba

Makiko Yamazaki

Tokyo (Reuters)-Toshiba will generate $ 3 billion from advanced encryption technology for data protection by 2030 as Japan’s vast conglomerate scrambles to find future growth drivers He said he was aiming to raise it.

A cybersecurity technology called Quantum Key Distribution (QKD) takes advantage of the nature of quantum physics to provide two remote parties with encryption keys that are immune to cyberattacks.

Toshiba predicts that the global QKD market will grow to $ 12 billion in 10 years due to advances in quantum computers. The vast computational power of quantum computers makes it easy to crack traditional math-based encryption keys commonly used in finance, defense, and healthcare.

With cybersecurity at the forefront of national defense, the company wants to harness the global demand for advanced encryption technology. China is actively expanding QKD’s network infrastructure, including quantum satellites that relay quantum signals.

The company said it has partnered with Verizon Communications Inc in the United States and BT Group in the United Kingdom on a pilot QKD project and is in talks with another carrier in South Korea.

Since the crisis triggered by the bankruptcy of the US nuclear power business in 2017, Toshiba has implemented a series of restructuring measures, including the sale of laptop and television businesses.

Currently, we are focusing on public infrastructure projects that are resistant to the global economic downturn caused by the outbreak of the coronavirus.

Reported by Makiko Yamazaki, edited by Sherry Jacob Phillips.


Source: Reuters

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