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Public-key quantum money is a cryptographic proposal for using highly entangled quantum states as currency that is publicly verifiable yet resistant to counterfeiting due to the laws of physics. Despite significant interest, constructing…

Quantum Physics · Physics 2023-01-24 Prabhanjan Ananth , Zihan Hu , Henry Yuen

Publicly-verifiable quantum money has been a central and challenging goal in quantum cryptography. To this day, no constructions exist based on standard assumptions. In this study, we propose an alternative notion called quantum cheques…

Quantum Physics · Physics 2024-04-19 Mohammed Barhoush , Louis Salvail

We propose a new idea for public key quantum money. In the abstract sense, our bills are encoded as a joint eigenstate of a fixed system of commuting unitary operators. We perform some basic analysis of this black box system and show that…

Quantum Physics · Physics 2022-10-06 Daniel M. Kane , Shahed Sharif , Alice Silverberg

We present and characterize advanced attacks on an ensemble-based quantum token protocol that allows for implementing non-clonable quantum coins. Multiple differently initialized tokens of identically prepared qubit ensembles are combined…

Quantum Physics · Physics 2026-05-06 Bernd Bauerhenne , Lucas Tsunaki , Jan Thieme , Boris Naydenov , Kilian Singer

We prove a general relation between adaptive and non-adaptive strategies in the quantum setting, i.e., between strategies where the adversary can or cannot adaptively base its action on some auxiliary quantum side information. Our relation…

Quantum Physics · Physics 2016-07-28 Frédéric Dupuis , Serge Fehr , Philippe Lamontagne , Louis Salvail

The security of quantum cryptography is guaranteed by the no-cloning theorem, which implies that an eavesdropper copying transmitted qubits in unknown states causes their disturbance. Nevertheless, in real cryptographic systems some level…

Quantum Physics · Physics 2013-05-06 Karol Bartkiewicz , Karel Lemr , Antonín Černoch , Jan Soubusta , Adam Miranowicz

Research on quantum technology spans multiple disciplines: physics, computer science, engineering, and mathematics. The objective of this manuscript is to provide an accessible introduction to this emerging field for economists that is…

General Economics · Economics 2021-10-11 Isaiah Hull , Or Sattath , Eleni Diamanti , Göran Wendin

The construction of public key quantum money based on standard cryptographic assumptions is a longstanding open question. Here we introduce franchised quantum money, an alternative form of quantum money that is easier to construct.…

Cryptography and Security · Computer Science 2021-10-20 Bhaskar Roberts , Mark Zhandry

Publicly verifiable quantum money is a protocol for the preparation of quantum states that can be efficiently verified by any party for authenticity but is computationally infeasible to counterfeit. We develop a cryptographic scheme for…

Quantum Physics · Physics 2022-09-01 Andrey Boris Khesin , Jonathan Z. Lu , Peter W. Shor

Digital currencies primarily operate online, but there is growing interest in enabling offline transactions to improve digital inclusion. Existing offline methods struggle with double-spending risks, often limiting transaction amounts. In…

Quantum Physics · Physics 2025-02-26 Yichi Zhang , Siyuan Jin , Yuhan Huang , Qiming Shao

Developments in scalable quantum networks rely critically on optical quantum memories, which are key components enabling the storage of quantum information. These memories play a pivotal role for entanglement distribution and long-distance…

Cryptanalysis on standard quantum cryptographic systems generally involves finding optimal adversarial attack strategies on the underlying protocols. The core principle of modelling quantum attacks in many cases reduces to the adversary's…

Quantum Physics · Physics 2022-04-14 Brian Coyle , Mina Doosti , Elham Kashefi , Niraj Kumar

The no-cloning property of quantum mechanics allows unforgeability of quantum banknotes and credit cards. Quantum credit card protocols involve a bank, a client and a payment terminal, and their practical implementation typically relies on…

Quantum Physics · Physics 2019-02-28 Mathieu Bozzio , Eleni Diamanti , Frédéric Grosshans

There had been well known claims of ``provably unbreakable'' quantum protocols for bit commitment and coin tossing. However, we, and independently Mayers, showed that all proposed quantum bit commitment (and therefore coin tossing) schemes…

Quantum Physics · Physics 2008-02-03 Hoi-Kwong Lo , H. F. Chau

In this work we present a publicly verifiable quantum money protocol which assumes close to no quantum computational capabilities. We rely on one-time memories which in turn can be built from quantum conjugate coding and hardware-based…

Quantum Physics · Physics 2026-03-16 Fabrizio Genovese , Lev Stambler

Quantum money represents an innovative approach to currency by encoding economic value within the quantum states of physical systems, utilizing the principles of quantum mechanics to enhance security, integrity, and transferability. This…

Quantum Physics · Physics 2025-07-15 Artur Czerwinski

We consider two quantum cryptographic schemes relying on encoding the key into qudits, i.e. quantum states in a d-dimensional Hilbert space. The first cryptosystem uses two mutually unbiased bases (thereby extending the BB84 scheme), while…

Quantum Physics · Physics 2009-11-07 Nicolas J. Cerf , Mohamed Bourennane , Anders Karlsson , Nicolas Gisin

Quantum money is the first invention in quantum information science, promising advantages over classical money by simultaneously achieving unforgeability, user privacy, and instant validation. However, standard quantum money relies on…

We construct simulation-secure one-time memories (OTM) in the random oracle model, and present a plausible argument for their security against quantum adversaries with bounded and adaptive depth. Our contributions include: (1) A simple…

Quantum Physics · Physics 2026-03-17 Lev Stambler

Smart contracts are cryptographic protocols that are enforced without a judiciary. Smart contracts are used occasionally in Bitcoin and are prevalent in Ethereum. Public quantum money improves upon cash we use today, yet the current…

Quantum Physics · Physics 2022-09-20 Or Sattath