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Toshiba Aims To Generate $3 Billion Revenue By 20203 From Quantum Cryptography


Toshiba Aims To Generate $3 Billion Revenue By 20203 From Quantum Cryptography
The advanced cryptographic technology for data protection tat Toshiba has developed and offered to customers will generate about $3 billion in revenues by 20203, said the Japanese tech company Toshiba Corp on Monday.
This comment was made by the Japanese sprawling conglomerate amid its sustained efforts to find ways and means to ensure future growth.
The nature of quantum physics is leveraged by the cyber security technology, which is called quantum key distribution (QKD) and which has been developed by the company. The new technology gives cryptographic keys that are immune to cyber attacks driven by quantum computers to two remote parties.
With the advance of quantum computers, the global QKD market is expected by Toshiba to grow to $12 billion in 10 years. The massive computational power quantum computers have the capacity to easily decipher conventional math-based cryptographic keys that are used commonly by companies in the finance, defence and health care segments.
With cyber security currently gaining great importance and have come to the forefront in relation to national defence, the company expects to witness a rise in global demand for advanced cryptographic technologies which it wants to tap into, Toshiba said. Its network infrastructure for QKD, including quantum satellites that relay quantum signals, is being rapidly and aggressively expanded by China.
Pilot projects QKD in partnership with BT Group in Britain and Verizon Communications Inc in the United States are being planned by the company already, Toshiba said and added that it is currently in negotiations with another telecommunications carrier in South Korea.
A number of measures to restructure the company have been adopted and implemented by Toshiba since the company faced the crisis resulting out of the bankruptcy of its US nuclear power business in 2017. The restructuring efforts of the company also include it selling off its laptop and television set businesses.
Under the new business strategy of the company, Toshiba is now more focused on its public infrastructure businesses that have proven to be significantly resilient to a global economic slump that has been brought about by the novel coronavirus pandemic throughout the world, including Japan.