JPMorgan's quantum breakthrough can significantly enhance encryption: Here's how
What's the story
In a world-first, JPMorgan Chase & Co. has generated and certified "truly random numbers" using a quantum computer.
The milestone has far-reaching implications for security and trading, and is being hailed as a groundbreaking achievement.
The sequence was generated using a quantum computer developed by Honeywell's Quantinuum, according to research published in Nature journal.
Context
Why does this story matter?
Most so-called random number generators, crucial for encrypting sensitive data, aren't truly random. They follow pre-determined sequences.
Since computers rely on fixed mathematical operations that always yield the same result, encryption codes risk being cracked by hackers with advanced computing power.
However, JPMorgan's quantum breakthrough offers a solution by generating genuinely random numbers, significantly strengthening encryption.
Validation
Proof of 'genuine randomness' achieved
The research team, which included scientists from Argonne and Oak Ridge national laboratories and the University of Texas at Austin, became the first to mathematically prove that they had produced "genuine randomness."
This certification gives users verifiable proof that the numbers are truly random.
This advancement opens up new possibilities for high-stakes industries like critical infrastructure and financial services.
Process
Quantum computing algorithm used to generate random numbers
Between May 2023 and May 2024, JPMorgan's cryptographers designed an algorithm for a quantum computer to produce random numbers. They subsequently executed this algorithm on Quantinuum's machine.
The output was tested on the US Department of Energy's supercomputers to determine if it was genuinely random or not.
Marco Pistoia, project lead at JPMorgan, called it "a breakthrough result" in an interview with Bloomberg.
Future prospects
Potential applications of 'truly random numbers'
The potential applications for these truly random numbers are vast.
They could pave the way for more energy-efficient cryptocurrency, online gambling, and any other activity that depends on absolute randomness.
This even includes deciding which precincts to audit in elections.
The research team is now looking to understand where they can use this breakthrough result in the future.