What is Quantum Computing ?
Quantum computers can perform certain calculations substantially faster than conventional computers. They operate not with bits but with Qubits (Quantum bits) which can hold multiple states simultaneously, i.e. 0 AND 1 (vs. today’s 0 OR 1 Bits).
This difference to classical computing can be best visualized with the toss of a coin: classical computing is the coin state AFTER landing - clearly either heads or tails (0 or 1), while quantum computing are the coin states DURING its spinning in the air – i.e. different combinations of heads and tails depending on when and where you measure. These intermediate states called superpositions unleash tremendous computing and data storage power utilizing concepts of quantum physics.
Why Post-Quantum Cryptography matters ?
Quantum opportunities and threats
Next to these obvious advantages there is also a key risk related to quantum computing: Existing cybersecurity solutions (e.g. RSA or ECC) apply algorithms that can’t be solved in a realistic time frame using conventional computers. With fault tolerant quantum computers these security measures are set to be breached within a few minutes.
Timeline for Q-Day
Q-Day is defined as the day when there exists a strong enough error-tolerant quantum computer using which the existing crypto algorithms can be breached within minutes. The technical complexity to build reliable error-free quantum computers is huge. However, recent developments show that the Q-Day isn’t that far away anymore. A lot of industry investments as well as specific experiments across the world lend testimony to the day getting increasingly closer to us.
While mainstream commercial application might take a few more years, bad actors will not wait for things to get perfect for widespread usage. They will use the present best available technology and brute test security breaches. They need to be successful sporadically not continuously! This can happen best case in 10 years but worst case within the next 4 to 5 years from now.
Risks of waiting
The quantum cryptography risk is also referred to as the “Encryptogeddon”. Highly sensitive data is at risk on a global scale. For long-lived data, the timeline to act becomes even shorter due to the “harvest now – decrypt later” (HNDL) phenomenon. Data can be stolen today using numerous current techniques and stored away until appropriate quantum technology is available to decrypt it.
Financial Data, utility infrastructure or personal health data will still be of immense financial ransom value to bad actors in a few years (depending on the lifetime of such data). Underestimating the needed migration time from current to quantum-safe cryptographic operations is risky. Expert opinion assumes it will take a mid-to-large multi-site organization around 5, or at worst 10 years to transition to fully quantum-safe business operations.
Mosca theoreme (Source: Mosca, University of Waterloo, Canada)
Why we stand out - the SeQure approach
We are not the first ones to address the topic of post-quantum cryptography (PQC). What makes SeQure unique is the specific Software-as-a-Service offering tailored to the needs of the financial services and utilities sectors in Switzerland. Customers benefit from the years of dedicated know-how and hands-on experience in running SaaS operations for large banks and financial sector digitally-integrated corporates in Switzerland, the UK and the US. We walk them through the specific steps to consider filtering out the noise and irrelevant trivia. The transition is divided into actionable steps within reasonably quick time frames while minimizing resource needs on the customer side.
What we deliver to you - the SeQure offering
SeQure has built industry specific tools utilizing the power of AI and 20+ years of bank grade cryptographic and security industry-expert knowhow to offer solutions that help improve efficiency, reduce cost and time needed for migrating to quantum-safe operations. We follow a prudent, strategic view rather than taking up massive “all-in-one” big-bang projects.
Amit Agarwal
Founder & CEO
Amit looks back on 25 years in FinTech and Mobility companies. He has led major FinTech companies at executive level, driving the growth of multiple market-leading SaaS solutions for banking, anti-money-laundering (AML) and electronic payment (EIPP) in Switzerland, USA and UK. With degrees in Computer Science (IIT India) and International Business (HWZ Zürich) as well as a certification in Quantum Computing (MIT), he now puts all his focus on quantum security for the Swiss financial and utilities sectors.
Per Trifunovic
Co-Founder & Chairman
Per is a seasoned executive with over 25 years in banking technology and cy cybersecurity. He has successfully led major financial infrastructure and security firms, including BBP (now Finastra), Econis AG and SEPPmail AG and established market-leading SaaS solutions for Swiss banks. His experience stretches from operational leadership to Chairman roles. As an engineeering graduate of ETH Zurich, he specializes in secure IT infrastructure, financial messaging and encryption.