Collaboration Aims to Protect Cryptocurrencies in Quantum Computing Era
www.businesskorea.co.kr, May. 28, 2025 –
ICTK, a Korean company specializing in Internet of Things (IoT) security, announced on May 28 that it has signed a strategic memorandum of understanding (MOU) with BTQ Technologies, a Canadian quantum technology specialist, for joint development of cold wallet security solutions.
Founded by experts in the field of post-quantum cryptography (PQC), BTQ is developing advanced technologies to counter security threats in quantum computing environments. It provides quantum-safe security products applicable to various industries including blockchain, Internet of Things (IoT), finance, and defense through PQC-based software technology and solutions that integrate it into hardware. The company is listed on stock exchanges in Canada, the United States, and Germany.Through this MOU, ICTK plans to jointly develop a blockchain-based cold wallet security solution that can be safely used even in the quantum computing era by combining and advancing its proprietary VIA PUF (physical unclonable function) technology with both companies’ PQC algorithm-related technologies.The cold wallet security solution that integrates PQC is expected to alleviate market concerns about quantum computers threatening the security of cryptocurrencies. In fact, immediately after the announcement of Google’s quantum processor Willow development in December 2024, the price of Bitcoin, a representative cryptocurrency, plummeted by about 5-10%.“The collaboration with ICTK is an opportunity to maximize synergy between quantum-resistant software and hardware technologies. We look forward to developing solutions together that can more securely protect digital assets by combining the security capabilities of both companies,” said Choi Young-seok, vice president of BTQ.An ICTK official stated, “The cold wallet security solution we are developing through this agreement focuses on enhancing user convenience along with strong security. We will accelerate the development of quantum technology business by applying core security technologies such as VIA PUF and PQC to various industries.”Meanwhile, ICTK plans to participate in the Quantum Now forum to be held in Canada in June as a representative Korean quantum security company, and is also considering various collaborations with overseas companies.Click here to read more 