Bank of Canada and cybersecurity technology
The Bank of Canada has contracted local expert evolutionQ to work on a study concerning quantum-safe cybersecurity technology for new forms of digital currency. The Bank of Canada is doing research into possible technical ecosystems and technologies that could help guide decisions about the creation of a digital loonie.
The Bank of Canada is a Crown corporation and Canada’s central bank. Chartered in 1934 under the Bank of Canada Act, it is responsible for formulating Canada’s monetary policy, and for the promotion of a safe and sound financial system within Canada.
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Quantum-safe encryption technologies
The evolutionQ study will look into how incorporating quantum-safe encryption technologies and crypto-agility into digital currency designs can affect the market. To speed up the creation of quantum-safe technologies, the code created during the study will be made freely available as open source so that other developers and researchers can examine the new cryptographic methods and offer changes or revisions.
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