Page 27 - GS220801

CoverStory

universe, I can predict how the world Complexity versus randomness
will look at any time in the future. But
there's no formula that can predict Samid noticed the cryptography schemes presented by NIST's final four
what will happen in the future or candidates attempt to protect public and private cryptography keys from
what happened in the past – there is quantum computing attacks by making them more complex. His solution, by
only probability." contrast, uses software that randomly changes data in ways that are not obvious
to users. For example, if a bank requests your name during authentication, you
To further elaborate, Samid said may type it in, and the bank would see it slightly differently than your written
what we know about what happened name, he noted.
or what will happen depends on
whether we are observing or not During the pandemic, the BitMint team sought a different strategy to deter
observing. In essence, he noted, most quantum computers. According to Samid, they saw COVID defeating
of the books you read about quantum everything that humanity was throwing at it, even the most sophisticated
will leave you more confused than vaccines, and they asked, how does this little virus do it? The answer, he said,
before you started reading. is mutation: the virus mutates into something different, which the vaccine now
has to chase, but by the time it catches up, the virus has mutated again into
Practical quantum applications something entirely new.

While quantum computing may "So, we thought, let's be humble and copy from nature," Samid said. "If COVID
appear to be years away, basic can do this, BitMint can do this, and we came up with a solution where instead
tenets of quantum physics can be of relying on a single algorithm that quantum computers can crack, we created
seen in MagTek's Qwantum Private a solution that keeps switching from one thing to another. In this way, we can
Messaging and Vality Corp.'s Keyless stay two or three steps ahead of the competition."
Authentication.
Dale S. Laszig, senior staff writer at the Green Sheet and managing director at DSL Direct LLC, is
Deignan pointed out that MagTek's a payments industry journalist and content strategist. Connect via email dale@dsldirectllc.com,
Qwantum Private Messaging is LinkedIn www.linkedin.com/in/dalelaszig/ and Twitter @DSLdirect.
based on quantum physics, which he
described as a new understanding of
how light, energy and matter behave
that is giving rise to a new generation
of super-fast computers.

"Qwantum Private Messaging is the
first application built on MagTek's
Qwantum platform," he said. "It
leverages unpredictable, non-
repeatable, verifiable, one-time-use
tokens, obtained from a Qwantum
Card or a virtual derivative. In fact,
the Qwantum Card mimics the
physics of quantum mechanics: the
output morphs with every use."

Peter Quadagno, co-founder,
president and CEO at Vality, described
Vality Keyless Authentication as
a fraud deterrent solution that
leverages quantum randomness to
protect against quantum computing
attacks, using a patented technology
developed by BitMint.

"We use a software language and
technology instead of big data
analytics and AI, which in the final
analysis boils down to probability
theory and the manipulation of
statistical data," Quadagno said.

27