Earlier this month Japanese startup Digital Asset Markets (DAMS) announced it completed the basic development of a quantum-resistant digital securities platform. The company is backed by big names such as the Japan Exchange Group (JPX) which owns the Tokyo Stock Exchange, as well as Mitsui & Co, Monex Group and Nissan Securities. Intertrade, the trading software developer, founded it.
To date DAMS is mainly known for partnering with Mitsui to launch blockchain-based commodity tokens such as the gold-backed ZipangCoin, as well as silver and platinum coins.
When quantum computers come into existence they will break most conventional cryptography. That means a hacker will be able to decrypt stock exchange ledgers, bank data and public blockchains. One of the biggest risks is that a hacker steals data today, stores it, and decrypts it when quantum computers become available (Harvest Now, Decrypt Later (HNDL) attacks). Personal information and financial data are the most vulnerable.
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