Digital payment security: A new discovery that could change the game

In the crypto world, the security of digital transactions has always been a major challenge. A great deal of research has been carried out to improve the security of operations. A recent study by the Vienna Center for Quantum Science and Technology may well change all that. By exploiting the mysterious principles of quantum mechanics, this research proposes a new approach that could make digital payments unconditionally secure.

Towards the absolute security of quantum digital payments?

Research into the security of digital payments is making significant progress. On Tuesday, July 4, the Vienna Center for Quantum Science and Technology presented a new study on the subject.

The results highlight what could be the very first “unconditionally secure” digital transaction mechanism. The principles governing quantum mechanics are the basis for this security.

Titled “Demonstration of quantum-digital payments”, the research uses a scientific method to show “how quantum light can secure everyday digital payments”.

This is achieved “by generating quantum cryptograms that are intrinsically unforgeable”. In other words, attacks by an ill-intentioned person against a transaction governed by this method would be automatically neutralized.

The demonstration of such "quantum-digital payments" in a realistic environment has just been published in @NatureComms. Read the article here: https://t.co/fEGkKscBvA

— University of Vienna STEM (@stem_univie) July 4, 2023

More concretely, the mechanism devised by the research is based on what is known as quantum entanglement. This is a fundamental principle of quantum physics, according to which two or more particles are inseparably linked.

Essentially, it is the exploitation of the principle of quantum entanglement that guarantees the transmission of unalterable and inaccessible data. To say the least, this study represents a significant breakthrough for the crypto sector.

At the very least, it opens up the possibility of a totally secure, tamper-proof and absolutely private digital payment system. A prospect that nevertheless suffers from a minor hurdle: the time required to operationalize the security process.

According to the scientists, this is currently a relatively long process. It would take around ten minutes for a single digital payment made using this method. The challenge now is to scale up the process.

This ambition could become a reality in the near future. “Indeed, brighter sources of entangled photon pairs have already been demonstrated, which could reduce the transmission time of the quantum token to less than a second”, say the researchers.