- Funding: BTQ Technologies will receive funding of up to $150,000 from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP). This funding will enhance BTQ’s IP portfolio, contributing to the company’s R&D efforts.
- Innovative Research: The NRC IRAP-funded project aims to develop distributed consensus algorithms for secure quantum random number generation (QRNG) as an oracular service, which is vital for cryptography and various mission-critical industries such as blockchain, telecommunications, and finance.
BTQ Technologies Corp., a global quantum technology company focused on securing mission-critical networks, is pleased to announce that it will receive up to $150,000 in funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP). This funding will support the research and development project titled “Secure Shared Quantum Random Number Generation Using Distributed Consensus Algorithms.” The project aims to develop distributed consensus algorithms for secure quantum random number generation (QRNG) as an oracular service.
Random number generation (RNG) is central to many applications in cryptography and scientific simulation techniques and is crucial in industries such as blockchain, telecommunications, and finance. BTQ plans to pursue additional research and development funding and collaborations to expand its presence in Canada’s vibrant quantum and cybersecurity ecosystems.
Olivier Roussy-Newton, commented on the support from NRC IRAP: “We are delighted to receive this support from NRC IRAP for our QRNG research and development project as we continue to build our presence in Canada’s vibrant quantum ecosystem.”
Fintech News: Top 10 News of Mastercard for 2024
Source – prnewswire
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