Johannesburg - Although 2020 has seen businesses face a massive financial blow due to Covid-19 pandemic with many companies now looking at various recovery plans to get back on their feet, Japanese multinational tech giant Toshiba has now set its revenue target at $3 billion in which it looks at achieving by 2030.
Toshiba is said to make this possible through its advanced cryptographic technology for data protection.
According to Gadgets 360, the cyber security technology called quantum key distribution (QKD) leverages the nature of quantum physics to provide two remote parties with cryptographic keys that are immune to cyberattacks driven by quantum computers.
Toshiba expects the global QKD market to grow to $12 billion in 10 years with the advance of quantum computers. This massive computational power could easily decipher conventional math-based cryptographic keys commonly used in finance, defence and health care.
The world-renowned electronics maker Toshiba Corporation is hoping to tap global demand for advanced cryptographic technologies as cyber security has come to the forefront of national defence. China is aggressively expanding network infrastructure for QKD, including quantum satellites that relay quantum signals.
The company said it has teamed up with Verizon in the United States and BT in Britain in pilot QKD projects, and is in talks with another telecommunications carrier in South Korea.
The company on Monday said that it will launch services involving the use of quantum cryptography, which is theoretically unbreakable, to corporate clients both at home and abroad by fiscal 2025.
IOL TECH