Lawsuit Pulls Back Curtain on Quantum Crypto Industry

The benefits of quantum computing are a bit hazy, but the danger of the technology is significant. Nation-states are pushing hard to develop quantum computers primarily to break the strongest encryption codes available. That makes governments, infrastructure organizations and corporate intellectual property at risk. That risk has led to the growth of the quantum cryptography industry to make “unbreakable encryption.” Like the computers themselves, quantum cryptography is more theoretical than actual. That doesn’t stop investors from throwing money at any and all players coming in to pitch for investment.

One of the high flyers is Arqit, which was hit with multiple investor fraud suits in the UK, where it is based, and the US. The suits claim Arqit has overinflated its prospects. Arqit rejects the claims, of course, but the discovery process gives us a window into how close we are to defend against quantum computers in discovery.

Cyber Protection Magazine is working on this story but we talked with Gerry Kennedy, CEO of Observatory Holdings. Kennedy saw watching this develop before it hit the news. From an insurability standpoint whatever plays out will be crucial to further development.

Lou Covey is the Chief Editor for Cyber Protection Magazine. In 50 years as a journalist he covered American politics, education, religious history, women’s fashion, music, marketing technology, renewable energy, semiconductors, avionics. He is currently focused on cybersecurity and artificial intelligence. He published a book on renewable energy policy in 2020 and is writing a second one on technology aptitude. He hosts the Crucial Tech podcast.

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