Data security has become a chief concern for retailers and banks that need to protect their customers against the growing threat of cybercrime, the costs of which hurt businesses to the tune of $400 billion each year. Conventional methods of securing data over the internet, most commonly SSL, have shown to be vulnerable against a variety of attacks, creating the need for a new, more robust method of encryption that will stand the test of time.
Quantum cryptography may be the answer we’re looking for to resolve our security woes in data-sensitive applications like banking and online shopping. By cutting out third parties from the encryption process and exploiting the laws of physics, quantum cryptography can detect when a man-in-the-middle attack is happening and can resist exhaustive key searches since it doesn’t use mathematical functions to generate encryption keys. We partnered with Braintree to show how quantum cryptography will surpass today’s encryption standards, making data transfers like online shopping truly secure.
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