The day's most important news and information in brief.

A Fourth Estate® Service.

Tuesday, September 21, 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 © 2021 Fourth Estate® — All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Recent Articles

spot_img

Get the Daily NewsBrief in your inbox

Related Stories