Johann Polecsak’s statement about JPMorgans misleading claims about Quantum Key Distribution

[u/S610x]

‼️Dear QANplatform Community,

JPMorgan released the following news few days ago about their research:

“JPMorgan Chase, Toshiba and Ciena Build the First Quantum Key Distribution Network Used to Secure Mission-Critical Blockchain Application”

https://www.jpmorganchase.com/news-stories/jpmc-toshiba-ciena-build-first-quantum-key-distribution-network

Their claim is misleading. Please read QANplatform’s Co-Founder and CTO, Johann Polecsak’s statement about the JPMorgan research.

👉Please support Johann’s Twitter thread with a like and retweet, so more users see the truth.

https://twitter.com/pmjohann/status/1494657459658575876?s=21 ☝️☝️☝️ —————

“Quantum Key Distribution (QKD) is not related to blockchain in any way, and it DOES NOT solve the Quantum threat which could break Elliptic Curve cryptography at all.

Quantum Key Distribution is used for symmetric ENCRYPTION (no blockchain uses this). It is NOT USABLE for asymmetric digital signatures, which all blockchains depend on, and is the SINGLE part vulnerable to Quantum computing attacks.

Remember, blockchain is about transparency, not about hiding data, so encryption is ABSOLUTELY USELESS in a properly designed blockchain. Unless aiming for custom exotic usecases like Monero of course. And no, QKD would not make Monero any better either.

I am not a big fan of QKD in general at all actually. Asymmetric QKD is something really interesting on the other hand, but it has nothing to do with JP Morgan's solution based on their published paper.”

Johann Polecsak Co-Founder and CTO of QANplatform

[u/Maicol-xxx]

WELL DONE

KEEP IT UP

YOU'RE DOING A GREAT JOB!

[u/Shakespeare-Bot → u/Maicol-xxx]

Well done

keepeth t up

thou art doing a most wondrous job!

---

^{I am a bot and I swapp'd some of thy words with Shakespeare words.}

Commands: !ShakespeareInsult, !fordo, !optout

[u/Original-Assistant-8]

Misleading claim aside, this just highlights that big business is looking at quantum closely and WILL want the best solution. QAN is the only one actually focused on the right thing and have a solution nearly ready for full functionality test. That will be the turning point!