Quantum Blockchain: The Future of Data Security

Quantum Blockchain: The Future of Data Security

Introduction

While the idea of quantum cryptography has been around since the mid-80s, it wasn’t until recently that quantum technology became advanced enough to actually be implemented in useful ways, like the creation of quantum blockchain technology. Let’s take a closer look at how quantum blockchain works and why it will change how you think about data security.

What Is Quantum Mechanics?

Quantum mechanics is one of modern science’s most fascinating ideas. Even though it was first proposed in 1900, many aspects remain poorly understood by even experts. In order to understand quantum blockchain, a quick review of what quantum mechanics is and how it works is important. Basically, quantum mechanics states that a physical object isn’t a single thing but rather a series of probabilities. If you were to measure an electron in position X, there would be a set probability that it would be found at point X and not another point closer or further away. A different measurement on an electron could yield different results—either finding it at positions X and Y or positions Y and Z instead.

How Will It Change the World?

Quantum computing is advancing in leaps and bounds. By 2025, IBM predicts that quantum computers will be able to perform over 1,000 times better than our current models. While it’s not hard to imagine a future where quantum supercomputers exist and are used for sophisticated data mining and analysis, you may not have considered how that would affect blockchain technology. Simply put, quantum computing could break today’s most common encryption standards—rendering blockchain security measures useless overnight.

What About Blockchains?

A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a hash pointer as a link to a previous block, timestamp and transaction data. By design, blockchains are inherently resistant to modification of the data. Blockchains may be public or private—the only participants in an open blockchain network are all consenting computers; each node (i.e., computer) verifies and stores its own copy of all transactions ever processed on that network.

How will they merge?

Technology giants and government officials are working together to advance blockchain-based technologies. Microsoft, for example, has been working on blockchain projects with Bank of America and other financial institutions since as early as 2015. Meanwhile, IBM’s Hyperledger Fabric is being used by companies like Walmart to help track food shipments and streamline supply chain processes. As more tech companies incorporate blockchain into their business models and governments launch more pilot programs, it’s likely that they will converge — it’s just a matter of when and how.

Why Should We Care?

There are a lot of reasons to be excited about quantum blockchain. For one, it’s incredibly secure, making it an ideal technology for industries that deal with sensitive data, such as healthcare and finance. However, most interesting is how quantum blockchain could affect supply chains; it could bring an end to counterfeiting by allowing manufacturers to monitor products from their original source all the way through distribution, keeping tabs on products along every step of their journey. This technology is still in its infancy, but once it matures we can expect major changes in how our world operates.

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