PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

NIST Announces Its First Quantum Resistant Cryptographic Algorithms

By Tim Sloane
July 7, 2022
in Analysts Coverage, Data, Emerging Payments, Fraud & Security, Security, Technology
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
NIST Announces Its First Quantum Resistant Cryptographic Algorithms

NIST Announces Its First Quantum Resistant Cryptographic Algorithms

As digital devices become increasingly interconnected, the need for security is more important than ever. One of the biggest threats to security is quantum computing, which can break through traditional encryption methods. To stay ahead of the curve, researchers are working on developing quantum resistant algorithms. These algorithms are designed to be resistant to computing attacks, and they have the potential to revolutionize digital security. Quantum resistant algorithms are still in the early stages of development, but they hold great promise for keeping data safe from quantum computers in the future.

We don’t know when quantum computing will become possible, or if its presence will be announced by our adversaries, but its arrival can make our past and future digitally encrypted secrets visible. The U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) started looking at multiple potential solutions in 2016, and it will take until 2024 to complete, as multiple quantum resistant algorithms are needed to protect a wide range of data storage and sharing situations. Having multiple algorithms for each particular use case is also protection if one solution proves vulnerable. This announcement of the Kyber selection is specific to public key encryption (for an explanation of the technology, use cases, risks and solutions see Quantum Changes Everything: Protect Your Data Now):

“A team of 10 computer scientists from across Europe and North America built Kyber, which is based on an award-winning paper published in 2009 by Israeli-American computer scientist Oded Regev. After first submitting Kyber to NIST in 2017, the team has provided two major revisions that improve the overall security and efficiency of the tool.

Kyber exploits a field of mathematics called lattice problems. By contrast, RSA exploits a field of mathematics called the factoring problem. Phones, laptops, desktops, servers and other computers made en masse cannot solve the factoring problem, making RSA safe in most situations, but quantum computers will one day be able to crack the encryption.

Mathematicians have known since 1994 how a quantum computer could solve the factoring problem and therefore break RSA. The problem has been engineering a computer that can actually do so.

“While in the past it was less clear that large quantum computers are a physical possibility, many scientists now believe it to be merely a significant engineering challenge,” reads NIST’s webpage on post-quantum encryption.”

Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: CybersecurityDataData SecurityQuantum ComputingSecurityTechnology

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    real-time payments merchant

    Banks Without Invoicing Services Are Missing a Small Business Opportunity

    January 23, 2026
    card program

    Should Banks Compete in the Credit Builder Card Market?

    January 22, 2026
    real-time payments, instant payments

    Getting Out in Front of Instant Payments—Before It’s Too Late

    January 21, 2026
    PhotonPay ClearBank

    PhotonPay Expands UK Local Payment Rails via New Collaboration with ClearBank

    January 20, 2026
    agentic commerce

    To Forecast Agentic Commerce Adoption, Look to Biometrics and Digital IDs

    January 16, 2026
    ar ap

    Where Financial Institutions Fit in the AR/AP Value Chain

    January 15, 2026
    digital gift card

    Present and Accounted For: Digital Gift Cards in Incentive Programs

    January 14, 2026
    payments fraud, faster payments fraud

    Faster Payments Demand Faster Fraud Detection

    January 13, 2026

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result