A Fourth Estate® Service

Wednesday, January 13, 2021

Toshiba Aims to Create $3 Billion Revenue in Quantum Cryptography

Toshiba announced on Monday morning that it is aiming to create $3 billion in revenue from its advanced cryptographic technology for data protection by the year 2030, as the Japanese giant scrambles to find future growth drivers.

Toshiba announced on Monday morning that it is aiming to create $3 billion in revenue from its advanced cryptographic technology for data protection by the year 2030, as the Japanese giant scrambles to find future growth drivers. 

The company said in a statement to shareholders that it expects the market of its global cyber security technology known as quantum key distribution to grow to $12 billion in a decade with the advance of quantum computers, whose massive computational power could decipher conventional math-based cryptographic keys commonly used in numerous sectors including finance and health care.

Toshiba is hoping to tap global demand for advanced cryptographic technologies as cyber security has come to the forefront of national defense. 

The company also revealed in its statement that it has teamed up with Verizon in the United States and BT Group in the United Kingdom in pilot QKD projects, and is in negotiations with another telecommunications carrier in South Korea.

 

Article © 2020 Fourth Estate® — All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Recent Articles

Malaysia Declares State of Emergency to Curb Rising Cases of COVID-19

Malaysia's king declared a nationwide state of emergency on Jan. 12 in an attempt to slow down the rise of COVID-19 cases in the...

Man Arrested After Attacking New Zealand Parliament Doors With an Axe

A man armed with an axe attacked the parliament building in New Zealand and was arrested by the police on Jan. 13.A man armed...

Herd Immunity Won’t Happen in 2021 Despite COVID-19 Vaccines, WHO Warns

Top scientists at the World Health Organization (WHO) warned that herd immunity will not take place this year despite the administration of COVID-19 vaccines...

Egypt Lifts Airspace Ban on Qatar

Egypt officially reopened its airspace with Qatar on Jan. 12, ending the airspace ban imposed three years ago, the aviation authority and state media...

Shane Erickson, Inc. Recalls Hand Sanitizer due to Potential Presence of Methanol

Shane Erickson, Inc. recalled selected lots of Wash-Free Hand Sanitizer, Wash Free Hand Sanitizer and Thrifty White Pharmacy Wash-Free Hand Sanitizer due to potential...

Get the Daily NewsBrief in your inbox

Related Stories