September 20, 2021
Scientists have developed the concept of “quantum” money that cannot be stolen and counterfeited

Scientists have developed the concept of “quantum” money that cannot be stolen and counterfeited

Scientists have developed the concept of 'quantum' money that cannot be stolen and counterfeited

Researchers at the University of Cambridge have presented the concept of a new type of money that cannot be counterfeited, hacked or stolen, because it is based on the principles of quantum physics..

The idea behind S-money is to create a financial system that will allow you to make transactions in real time on any distance (even far beyond Solar system). The money offered is actually virtual tokens that have no specific storage location. They are generated in a separate environment when exchanging data between different points of the network, responding to changes around the world and «materialize», so that they can be used in a specific place and time.

They don’t actually move over the network, but instantly appear or disappear. Scientists compare this to a jump in space-time in response to data coming from many distant sources..

Tokens can be exchanged securely without delays and checks, while eliminating the possibility of double spending. Security is guaranteed by the laws of the subatomic world, so the system cannot be hacked even with the help of a quantum computer..

Confidentiality is achieved through various protocols that allow you to transfer information in a closed form and to gain access to funds, the sender must provide a key with a security guarantee.

Launching the S-money system requires enormous computing power, but it can be done using modern computers. Researchers plan to conduct several trial tests in collaboration with the Center for Quantum Communications.  

However, according to the developers themselves, the proposed concept requires long-term storage of quantum states or quantum memory. Even if it becomes technologically possible, it will require huge costs, so they plan to improve the system. and hope that in the future it will become the basis for commerce on a galactic scale.

text: Ilya Bauer, photo: orquest, logos-store

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