Mt Pelerin and ID Quantique receive funding from the EU as part of their participation in the OPENQKD research project. The project brings together players from 13 countries to create a highly secure quantum-based communication infrastructure globally.
In June this year, the Geneva-based companies Mt Pelerin with its blockchain-based tokenization platform for banking and finance sectors and ID Quantique, developer of the state-of-the-art quantum-based secure communication systems combined their expertise for the development of the Quantum Vault, the first quantum-based solution for the secured storage of crypto assets.
The partnership has now been selected by the European Union as part of the OPENQKD research project. Funded by the EU with €15 million, the purpose this project is to create a highly secure quantum-based communication infrastructure on the continent. OPENQKD brings together a multidisciplinary team of 38 organizations from 13 countries among them are renowned organizations such as Deutsche Telekom, Orange, Nokia Bell Labs, Thales Alenia Space France Sas among others. Switzerland has four partners (Services Industriels de Geneve, IQ Quantique, Universite de Geneve and Mt Pelerin Group SA) on the project.
The goal of OPENQKD is to create and test a communication infrastructure that will answer some of today's data security challenges using QKD (Quantum Key Distribution) and to promote network functionality and use-cases to potential end-users and relevant stakeholders from research and industry.
Creating a testbed for QKD
Each participant will work on specific use cases related to their respective sectors of activity. Mt Pelerin's will apply QKD to the domain of crypto custody to demonstrate that the technology can result in a highly secure solution for deployment in real-life situations within any financial institution dealing with digital assets such as central banks, commercial banks, cryptocurrency exchanges, asset managers, among others. The Quantum Vault will be based on a software layer developed by Mt Pelerin, on QKD systems developed by ID Quantique and the University of Geneva, and on HSM (hardware security module) systems provided by a third party supplier. The Quantum Vault will be tested in Geneva over the SIG's optical fiber network.
(Press release)
Please login or sign up to comment.
Commenting guidelines