Bank of America Dips its Toes into Hardware. How Far Will it Go?

Bank of America is no longer just looking at quantum computing software; they have their eyes on hardware as well. If you are worried about the advent of quantum computing and the impact it could have on hacking secure communications, Bank of America may have the solution. The advent of quantum computers brings the risk that any encryption that relies on random number generation could be broken. What this means is that communications sent by one device could be intercepted and even altered before they reach an intended recipient. However, this nightmarish problem could be solved before it even becomes relevant.

A recently published application by Bank of America is directed to a case that would surround a traditional computer. The case would allow quantum tunneling through it, and would allow a quantum computer to generate a truly random number with which to encrypt outgoing communications. This truly random number encryption would allow communications to be encrypted in such a way that they cannot easily be intercepted and decrypted by other quantum devices. The application is also notable for signalling Bank of America’s interest in producing quantum-enabled hardware. Previously, BoA has only been issued patents directed to software implementations of quantum computing, but producing hardware may mean they are able to license essential components for ensuring other banks and financial institutions are resistant to quantum hacks. The Patent Forecast® will be looking at Bank of America closely and watching for any potential pivots to hardware in the coming months. 

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