Quantum Computing Key to Secure Blockchain: Carnegie Mellon Chief Scientist

Quantum Computing Key to Secure Blockchain: Carnegie Mellon Chief Scientist

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While Blockchain technology is a relatively new innovation, it has been steadily gaining recognition recently. According to Gregory Shannon, Chief Scientist of Carnegie Mellon University, Blockchain is a technology that has now found its way out of the encryption community and into other sectors as well. He states that it will be ideal for the economic systems around the world and also the healthcare and medical industry. Quantum computing effects Although encryption of data is a rather safe mode of transferring data through several networks, quantum computing could allow a third party to break through the encryption which can be an actual threat to encryption technology such as Blockchain technology. However, Shannon believes that by the time quantum computing can be used for breaking encryptions, they would have already made a quantum-resistant protocol. To do this, they must also make use of quantum computing.  As long as the encryption is kept secure by the development of these security measures, data can be transferred without much risk of a breach. With Blockchain technology impacting so many parts of the globe, it is essential to make sure that the technology is very secure and safe because it contains information and important data of many people from around the world.

How Blockchain Technology Will Disrupt Elections And Empower Individuals

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As unprecedented charges of rigging have loomed over the U.S. presidential election, much attention has focused on the capability of blockchain technology to make voting more transparent. Joseph Lubin, the founder of ConsenSys and the co-founder of Ethereum, observed in an article in Futurism that decentralizing technologies have important implications for not only improving elections, but in empowering individuals overall. In addition to charges of rigging, this year’s U.S. election featured the emergence of foreign and non-state actors wielding the power to influence the election’s outcome. Decentralized actors form Wikileaks to Anonymous have exerted influence over the race. A foreign controller of a big botnet can create major confusion which can affect events from a distance, Lubin noted. Where the United States has historically sought to police the world, the world has since become capable of exerting checks and balances on the U.S. political system. Chinese and Russian hacks, meanwhile, are exerting information-based influence on foreign shores. Stuxnet and similar cyber weapons have delivered millions of dollars’ worth of damage. Blockchain technology’s decentralizing power will deliver tools that can not only disrupt existing systems, but also provide solutions to enable more transparent, predictable and fairer outcomes. Governance Through Code When organizations …