November 28, 2022

Visa and JPMorgan in Post Quantum Cryptography

Visa Inc. and JPMorgan Chase & Co. are researching methods capable of thwarting quantum computing attack, developing new processes and closely following the race for new encryption standards.

Nearly six years ago, researchers at Visa began studying so-called Post-Quantum Cryptography (PQC), which refers to the new cryptographic methods that could be used to withstand an attack from a Quantum Computer.

They have published four peer-reviewed papers about cryptographic systems that could be used against a quantum-computing attack, and a fifth is in the works.

A popular public-key cryptography method, RSA, would be especially at risk. RSA is vulnerable to Quantum Computers because it is based on integer factorization, which is essentially reverse multiplication, using numbers that can be about 1,000 digits long.

JPMorgan is developing processes to help identify high-priority data sets that need to be protected for several years and could be at risk if a powerful quantum computer becomes available,

Visa and JPMorgan plan to begin adopting NIST’s new PQC standards when they become available, which will require coordination with industry organizations. It can take as long as 15 years for Internet activity to be secured by the new encryption methods, experts say. (Wall Street Journal)

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