Published on: September 25, 2024
James Nguyen, one of the co-founders of Quantropi, has a unique background in banking and investments, which he has merged with cutting-edge quantum encryption technology. After a successful career in the banking sector, where trust and security were paramount, James became aware of the vulnerabilities posed by quantum computing through his partnership with Dr. Randy Kuang, a quantum physicist. Together, they established Quantropi in 2018, leveraging Nguyen’s financial expertise and Kuang’s deep knowledge of quantum science to address the emerging threat of quantum attacks on modern encryption.
In an interview with SafetyDetectives, Nguyen provides insights into what sets Quantropi’s approach to quantum encryption apart in the field, how their solutions are already being utilized in industries such as defense and IoT, and the challenges the world faces in adopting quantum-secure encryption. He also sheds light on common misconceptions about quantum cryptography and explains how their flexible, enterprise-grade platform, QiSpace™, is designed to meet the evolving needs of the market.
Can you share your journey and what led you to co-found Quantropi?
I have a background in banking and used to work for a large banking institution in Canada. In the banking world, there’s a saying: “If there is no security, then there’s no trust, and if there’s no trust, then there’s no bank.” Trust has always been at the core of my career and value system.
After leaving the bank, I transitioned into investments and helped lead a round into a security company that specialized in identity and authentication. It was there that I met my current co-founder, Dr. Randy Kuang, a quantum physicist. He had been working in network security for over 20 years at Nortel Networks’ research arm. His methods had been used by NASA in the early ‘90s, and he was always thinking about new ways to defend the world.
At that time, I was involved in blockchain and learning about it. I thought blockchain was unbreakable, but Randy explained that blockchain is vulnerable to quantum attacks. That conversation opened my eyes. After building a strong relationship, I combined my life savings with his intellectual property, and we founded Quantropi in 2018. The rest became history.
What makes Quantropi’s approach to quantum encryption unique compared to other companies in the field?
Today, our encryption is safeguarded by complex math problems that are difficult to solve using traditional computing methods. However, quantum computers can quickly solve these math problems by factoring prime numbers in a way that conventional computers cannot.
One potential solution is to use quantum physics-based key distribution, but this would require costly new infrastructure and is still around ten years or more away from being widely scalable. My co-founder has experience in this area, and while the technology is promising in the lab, it is not currently practical for today’s mobile needs. For instance, it’s not feasible to have fiber optic cables connecting to your phone in the near future.
Another approach is to find stronger math problems, but the longevity of these solutions is uncertain. Some proposed standards were compromised before they were even finalized.
Our approach combines the strengths of both worlds. We leverage the principles of quantum science along with unbreakable math while minimizing the drawbacks. We have developed a B2B enterprise-grade platform called QiSpace™, which offers encryption services. Not only do we provide quantum entropy sovereignty by being able to stream quantum entropy at line speed over any distance, but this ability is also combined with our lightweight and high-performance algorithms, allowing businesses—especially in IoT and other sectors—to implement quantum security in a scalable manner.
Who are your typical clients?
We have partnerships with major manufacturers such as Palo Alto Networks and also collaborate with companies like ST Microelectronics, Renesas and others.
Additionally, we have opportunities in the defense sector. For instance, our technology is currently being used on the battlefield in Ukraine through quantum-secure radios.
What role does artificial intelligence play in enhancing or complementing quantum security solutions?
We are not an AI company, but our technology protects against attacks on cryptography by the advancements in quantum and AI. Our solutions secure data at rest and in transit, safeguarding against threats accelerated by quantum computing and AI. Even as machine learning continues to advance, our security remains robust at the quantum level. The increased efficiency of AI does not weaken our encryption protocols.
As quantum technology evolves, what challenges do you foresee in implementing quantum-secure encryption across various industries?
One of the major challenges ahead will be scalability and the ability to implement software solutions rather than hardware-based ones. Companies heavily reliant on hardware may encounter difficulties.
At Quantropi, our focus is on fundamental needs that will remain constant, such as the requirement for high security, low latency, lightweight, and rapidly scalable solutions. This is why we have developed QiSpace™ as a versatile platform. Similar to Microsoft Office’s suite of tools (Word, Excel, etc.), QiSpace™ offers asymmetric encryption (for trust), symmetric encryption (to protect data), and a distribution network for entropy. It operates on a subscription-based model, allowing clients to mix and match features to suit their specific needs without huge capex. This level of flexibility is what the market demands.
What are some of the most common misconceptions about quantum cryptography that you’d like to address?
One common misconception is only looking at security without considering the performance requirements of today’s digital society. Quantum cryptography takes time to prove itself, as security needs to last the test of time. Performance is something Quantropi can prove today when it comes to looking at embedded quantum secure solutions. It doesn’t matter how secure something is if it takes hours to process a transaction or if the solution does not even fit on the device; no one will use it.
We prioritize both security and performance. While it may take time for people to trust the security of new quantum algorithms, we can demonstrate their performance today. Security will be proven in time, but right now, our priority is delivering solutions that work efficiently in real-world applications.
About Quantropi Inc.
Quantropi is a Canadian company that provides quantum-secure encryption and quantum key generation and distribution services to enterprises, governments, product manufacturers, and the IoT space, through its flagship QiSpace™ platform. QiSpace is the only offering that provides all three prerequisites for end-to-end quantum security — Trust, Uncertainty, and Entropy – TrUE. Quantropi’s TrUE product suite is fast, lightweight, and works seamlessly over TODAY’s Internet, making it the perfect choice for server environments to mobile and even embedded systems.