Economy Mt Pelerin-ID Quantique: digital asset safe tested in Geneva

Mt Pelerin-ID Quantique: digital asset safe tested in Geneva

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“This first test infrastructure is a great demonstration of the network of partners in the Geneva region,” says Stéphane Deramaux of Mt Pelerin.

In October 2019, Mt Pelerin, ID Quantique and two other Geneva organizations announced that they had received funding from the European Union as part of the OPENQKD quantum communication infrastructure project. Their goal: to develop the Quantum Vault.

Presented a few months earlier, the Quantum Vault is a partnership between Mt Pelerin and ID Quantique to combine their expertise and build a digital “safe” solution in Geneva. It aims to provide ultra-secure storage of digital assets for financial institutions such as central banks, global depositories, cryptocurrency exchanges and asset managers by adding an extra layer of quantum technologies in addition to the solution classic conservation.

The first Quantum Vault test installation was presented today in Geneva during a joint webinar organized by Mt Pelerin, ID Quantique and Equinix. It is based on a QKD infrastructure provided by IDQ and transported on the fiber optic network of Geneva Industrial Services, which hosts the central QKD node of this network

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“For the first time in Geneva, quantum keys are available between two data centers to secure data in transit and inactive data,” said Grégoire Ribordy, co-founder and CEO of ID Quantique. “By adding this layer of quantum security to a bank-level storage solution, the Quantum Vault makes storing private keys” information-theoretically secure “(ITS). This means that a digital asset cannot be hacked, even with unlimited computing power. We also plan to explore the application of this technology to ultra secure information storage between multiple data centers. “

For Stéphane Deramaux, Quantum Vault Project Manager at Mt Pelerin, this first test infrastructure will allow financial institutions to see concretely the performance and benefits of Quantum Vault. “It is also a great demonstration of the network of partners in the Geneva region,” he adds.

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