Singapore’s financial regulator, the Monetary Authority of Singapore, has issued a warning regarding the potential data protection risks associated with the emergence of quantum computing.

While quantum computers hold the promise of revolutionising various sectors with their unparalleled processing power, they also present a significant challenge to current encryption methods that safeguard sensitive data.

For IT departments, this means your existing data protection methods will be at risk as quantum computers will be able to crack traditional encryption more easily than classical computers. As we advance into the quantum age, let’s explore how Quantum-Safe Networks can benefit your business.

What is Data Protection: A Breakdown

Data protection refers to measures taken to safeguard data from unauthorised access, loss, or corruption. This includes using solutions like encryption, access controls, and backups to secure data.

The Singapore government promotes legal compliance with data protection laws for both individuals and businesses, via Singapore’s Personal Data Protection Act (PDPA). The EU’s General Data Protection Regulation (GDPR) also outlines key data protection principles such as purpose limitation, data minimisation, and accountability.

Data protection is often mistaken as data security or data privacy. Here’s how they are different:

• Data security: Refers to measures against data breaches and cyberattacks that could lead to the theft, damage, or misuse of data. It involves implementing technical controls to protect data from external and internal threats.
• Data privacy: Ensure individuals have control over their personal information and how it is collected, used, and shared. Data privacy practices involve adhering to regulations and policies that govern the handling of personally identifiable information (PII).

The Benefits of Data Protection: For Cybersecurity Standards of Tomorrow

At present, Singapore’s government organisations and statutory boards are spearheading initiatives in technologies like quantum computing and artificial intelligence.

On top of that, local banks are getting a headstart and seizing opportunities in AI-powered digital transformation. For example, DBS uses AI to improve their banking services, from sending personalised financial advice, to speeding up application approval times. However, the success of this AI-driven transformation hinges on retaining customer trust. Therefore, all businesses who want to adopt digital transformation must prioritise data protection.

To do so, businesses must begin to recognise future threats to customer data. For instance, cybercriminals are already putting plans like “Harvest Now, Decrypt Later” in motion. This is a cyberattack strategy where hackers steal encrypted data today, to decrypt it later when more powerful quantum computers become available, potentially exposing sensitive information that was once thought secure. This problem impacts AI technologies that collect and analyse vast amounts of personal data, as well as solutions that rely on encryption when the data is in transit over a network.

So while traditional cybersecurity solutions (e.g., firewalls, DDoS) are important because they safeguard against malicious attacks, they are no longer sufficient to protect personal data. Enterprise-level data protection can benefit your business by acting as a pre-emptive way to mitigate future threats and comply with data protection and data privacy laws.

Future-Proof Data Protection Solutions for IT Departments

The dangers of “Harvest Now, Decrypt Later” require businesses to take action now. That’s why it is crucial to implement robust and business-grade data protection practices to prevent hijacking in the future.

SPTel’s Quantum-Safe Network, which is being deployed as part of IMDA’s National Quantum-Safe Network Plus (NQSN+) project, is an example of a future-proof business solution for secure communication—it uses Quantum Key Distribution (QKD) technology to remotely generate secure, shared, and secret keys between two parties to decrypt information to prevent unauthorised access of data.

How does QKD mitigate the dangers of  “Harvest Now, Decrypt Later”?

Photons (light particles) are used to generate the shared key. Based on the principles of quantum mechanics, these photons are theoretically unhackable as they can exist concurrently in both a 0 and 1 state (unlike binary data), making it impossible for eavesdroppers to observe them without being detected, or to replicate the key exactly. Once tampering is detected, the key will be dropped and a new key will be regenerated.

The keys generated are used for one-time encryption. This means after exchanging encryption keys, both parties must regenerate a new set of keys. This single-use nature of the keys strengthens the encryption and minimises the risk of key reuse or theft.

How will SPTel’s Quantum-Safe Network Solution Benefit your Business?

• Future-Proof: QKD is resistant to the threat Quantum Computers pose to traditional encryption methods, and becoming an early adopter means that your networks are made secure against ‘Harvest Now, Decrypt Later’ attacks and that you are ready for a quantum-safe future.
• Peace of Mind: With critical network equipment and QKD devices stored within Critical Information Infrastructure (CII) locations accessible only by SPTel and authorised personnel.
• Reliability: With SPTel’s diverse and ultra-low latency network, users will benefit from a more resilient connection and improved key transmission rates.

Manage Your Cybersecurity For Tomorrow

As quantum computing looms on the horizon, our current data encryption methods are no longer infallible. Forward-thinking IT departments must proactively address this emerging challenge to ensure long-term data protection.

SPTel’s Quantum Key Distribution as a Service (QKD-a-a-S) is a cutting-edge solution that is recognised as a part of the National Quantum-Safe Network Plus (NQSN+) project. By investing in QKD, businesses can safeguard sensitive personal data and maintain a competitive edge in the ever-evolving digital landscape. Secure your future today with SPTel’s quantum-resistant technology.