Galaxy A Quantum gets new banking app that uses quantum security chip
Last updated: August 21st, 2020 at 06:23 UTC+01:00
The Galaxy A Quantum was launched in Republic of korea three months ago every bit an SK Telecom exclusive device. It is a variant of the Galaxy A71 5G with an added quantum security chipset for added security layer. Now, the carrier has announced that the phone's 5G quantum cryptography technology is currently being used in a new banking app.
The IM Depository financial institution app, which has been developed by DGB Daegu Banking concern, uses the Milky way A Breakthrough's QRNG (Quantum Random Number Generator) security chip for an added layer of security. It is the world's first banking service to apply a quantum-powered service on a smartphone, and it makes mobile transactions even more secure. The user's personal information will be protected while making transactions through the IM Bank app using OTPs (erstwhile passwords) or when they open new accounts via identity verification.
The SKT IDQ S2Q00 is a quantum random number generator bit that has been co-developed by Switzerland-based ID Quantique and SK Telecom. Information technology uses an LED and a CMOS sensor to create truly unpredictable random numbers. Based on those random numbers, the IM Banking concern app's OTPs and identity verification information is encrypted. DGB Daegu Depository financial institution's other services are being explored for the utilize of the QRNG chip.
Han Myung-jin, Vice President and Head of MNO Marketing Group of SK Telecom, said, "Released in May 2020, the Galaxy A Quantum, the world's first smartphone equipped with breakthrough random number generator, has been drawing global attention. Going frontward, we volition continue to build a safer and more secure society by applying our world'due south best quantum cryptography technologies to other areas, including finance and Internet of Things."
Source: https://www.sammobile.com/news/galaxy-a-quantum-banking-app-quantum-security-chip/
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