SSH.com awarded €1.3mn for quantum-safe crypto tech development

In connection with the national Post-Quantum Cryptography project, Business Finland has awarded SSH.COM a €1.3 million ($1.4mnn) grant for developing quantum-safe crypto technology. In addition to SSH.COM, the consortium comprises leading Finnish cybersecurity companies and research institutions, as well as international partners. Key national security agencies also participate in the project.

The project is a part of the Digital Trust Finland program by Business Finland focused on driving collaboration between Finnish companies and the globally growing market of digital trust-based business models and solutions. The program also supports the assessment of the opportunities and threats posed by new technologies such as quantum computing.

The project consists of several work packages that focus on the research and development of PQC technologies. The project will also produce strategy advice on Quantum computing and Post-Quantum Cryptography and a policy brief to increase the awareness of decisionmakers and other stakeholders on these issues. SSH participates in several of the work packages, and it is the leader in a critical work package that creates a reference implementation of quantum-safe encryption to the SSH NQX product family, tests it thoroughly, and analyzes the gaps and effects for successful implementation into national use.

SSH estimates that the funding will commence during the current quarter, and the project will run through the year 2022. The funding will be recognized under other operating income from 2020 to 2022 in proportion with incurred costs.

“The development of quantum-safe encryption technologies is vital for both the growth of SSH.COM and the national cyber-preparedness of Finland,” said Teemu Tunkelo, CEO of SSH.COM, in a statement. ”Members of this consortium include leading Finnish players. In cooperation with them, we want to ensure the Finnish cybersecurity cluster remains a global leader and further increases its competitiveness compared to international competitors.”

SSH.COM helps organizations access, secure, and control their digital core – their critical data, applications, and services. We have over 3,000 customers around the world, including 40 percent of Fortune 500 companies, many of the world’s largest financial institutions, and major organiza­tions in all verticals. Among its financial industry partners, SSH.com lists the Federal Reserve, UBS and HSBC.

Read the full release

Related Posts

Previous Post
BIS: Releasing bank buffers to cushion the crisis – a quantitative assessment
Next Post
The Fed’s regulatory wish list: modifying Dodd-Frank’s Collins Amendment (Premium)

Related Posts

Fill out this field
Fill out this field
Please enter a valid email address.

Menu
X

Reset password

Create an account