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Professor Hoi-Kwong Lo’s start-up company QBT receives $1M in federal funding

Co-founded by CQIQC member Professor Hoi-Kwong Lo, the company received a $1 million contract to test its quantum-resistant key distribution solution.

This story was originally published on the U of T Physics website.

Hoi-Kwong Lo

Toronto-based start-up company Quantum Bridge Technologies (QBT) has been awarded a $1 million contract from the Department of Innovation, Science and Economic Development, to test its quantum-resistant key distribution solution. QBT’s technology is based on research done at the University of Toronto by company co-founder Prof. Hoi-Kwong Lo, who is cross-appointed in the Department of Physics and the Department of Electrical and Computer Engineering. The technology could help protect encrypted Canadian communications from being hacked by quantum computers, which pose a threat to traditional encryption technologies.

QBT’s technology, called Key Management Entity, uses distributed symmetric key exchange (DSKE) and can integrate with existing network appliances and infrastructure. Asymmetric encryption, which uses two separate yet mathematically connected cryptographic keys, one public (for encryption) and the other private (for decryption) is particularly vulnerable to quantum computers.

The Canadian government is taking several steps to help companies find and market quantum-resistant solutions, with the National Quantum Strategy aiming to ensure the privacy and cybersecurity of Canadians. QBT’s technology has the potential to be a game-changer in the world of encryption, providing a much-needed solution to protect against the growing threat posed by quantum computers.