31 Jan 2019 Bethesda - Quantum Xchange, provider of the first quantum key distribution (QKD) network in the U.S., has been named a finalist of the 2019 South By Southwest (SXSW) Interactive Innovation Awards. Now in its twenty-second year, the annual awards programme brings together the most innovative, exciting and forward-thinking technology advancements in the connected world. Quantum Xchanges submission for the Innovation in Connecting People category, "Secure Connectivity in the Quantum Age", highlighted the company's ability to secure communications and provide unprecedented privacy through QKD as society's current encryption standards become threatened by quantum computers.
"We are thrilled to be named a finalist in the SXSW Innovation Awards and recognized as a forward-thinking way to connect and communicate", stated John Prisco, CEO and President of Quantum Xchange. "It is our mission to bring the risks facing today's encryption to light and instigate broader conversations about how best to evolve the exchange of private information. Continuing to innovate and build on the communication systems we have today will be critical for ensuring the security and privacy of everyone's data - from individuals, to government and enterprise organisations."
There are many challenges to secure communications created by the exponential processing capacity of quantum computers. If perfected, existing methods of encryption will cease to work. A quantum computers ability to break the RSA coding system will render almost all current channels of communication insecure. This means anything password protected will be easily hackable. In response, Quantum Xchange built the first quantum-secured network in the U.S. enabling organisations to send unbreakable encryption keys over any distance. Quantum Xchange's QKD service, Phio, extends the life of existing encryption investments through its quantum communications technology and leverages the properties of quantum mechanics to transmit and receive quantum cryptographic keys between entities.
Quantum Xchange is one of 65 companies across 13 categories that will display their technology during the Interactive Innovation Awards Showcase on March 9, alongside the most impressive projects from fields such as artificial intelligence (AI) and machine learning, health, medicine and biotech, robotics and hardware, smart cities, virtual reality, and more. During the showcase, the Innovation Awards judges will experience each project hands-on and vote to determine the winner of each category, as well as the winner of the Best of Show Award. Attendees of SXSW will also have the chance to vote for their top choice to win the People's Choice Award, which will be revealed along with all of the 2019 winners at the SXSW Awards Ceremony on March 11.