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We propose and construct a quantum money scheme that allows verification through classical communication with a bank. This is the first demonstration that a secure quantum money scheme exists that does not require quantum communication for…

Quantum Physics · Physics 2022-03-30 Dmytro Gavinsky

Quantum tokens are underlying primitives for quantum money and network proposals, which leverage the no-cloning theorem to realize unforgeable authentication. A relevant but overlooked type of attack to such architectures is a hacker that…

Quantum Physics · Physics 2026-05-06 Lucas Tsunaki , Boris Naydenov

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

Quantum algorithms can break factoring and discrete logarithm based cryptography and weaken symmetric cryptography and hash functions. In order to estimate the real-world impact of these attacks, apart from tracking the development of…

Quantum Physics · Physics 2019-02-11 Vlad Gheorghiu , Michele Mosca

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 present e cient algorithms for computing isogenies between hyperelliptic curves, leveraging higher genus curves to enhance cryptographic protocols in the post-quantum context. Our algorithms reduce the computational complexity of isogeny…

Number Theory · Mathematics 2025-04-08 Mohammed El Baraka , Siham Ezzouak

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 realization of devices which harness the laws of quantum mechanics represents an exciting challenge at the interface of modern technology and fundamental science. An exemplary paragon of the power of such quantum primitives is the…

Quantum Physics · Physics 2012-11-21 Fernando Pastawski , Norman Y. Yao , Liang Jiang , Mikhail D. Lukin , J. Ignacio Cirac

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 computing has the power to break current cryptographic systems, disrupting online banking, shopping, data storage and communications. Quantum computing also has the power to support stronger more resistant technologies. In this…

Quantum Physics · Physics 2020-11-17 Hazel Murray , Jerry Horgan , Joao F. Santos , David Malone , Harun Siljak

Financial crimes fast proliferation and sophistication require novel approaches that provide robust and effective solutions. This paper explores the potential of quantum algorithms in combating financial crimes. It highlights the advantages…

Machine Learning · Computer Science 2024-03-28 Abraham Itzhak Weinberg , Alessio Faccia

One of the earliest cryptographic applications of quantum information was to create quantum digital cash that could not be counterfeited. In this paper, we describe a new type of quantum money: quantum coins, where all coins of the same…

Quantum Physics · Physics 2010-09-07 Michele Mosca , Douglas Stebila

We present a quantum algorithm that analyzes risk more efficiently than Monte Carlo simulations traditionally used on classical computers. We employ quantum amplitude estimation to evaluate risk measures such as Value at Risk and…

Quantum Physics · Physics 2019-10-31 Stefan Woerner , Daniel J. Egger

Public-key quantum money is a cryptographic protocol in which a bank can create quantum states which anyone can verify but no one except possibly the bank can clone or forge. There are no secure public-key quantum money schemes in the…

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 concept of quantum tokens dates back alongside quantum cryptography to Stephen Wiesner's seminal work in 1983[1]. Already this initial work proposes society-relevant applications such as secure quantum banknotes, which can be exchanged…

Quantum money allows a bank to mint quantum money states that can later be verified and cannot be forged. Usually, this requires a quantum communication infrastructure to transfer quantum states between the user and the bank. Gavinsky (CCC…

Quantum Physics · Physics 2020-10-21 Roy Radian , Or Sattath

Quantum computers, that may become available one day, would impact many scientific fields, most notably cryptography since many asymmetric primitives are insecure against an adversary with quantum capabilities. Cryptographers are already…

Quantum Physics · Physics 2017-03-08 Marc Kaplan , Gaëtan Leurent , Anthony Leverrier , María Naya-Plasencia

We give a construction of public key quantum money, and even a strengthened version called quantum lightning, from abelian group actions, which can in turn be constructed from suitable isogenies over elliptic curves. We prove security in…

Quantum Physics · Physics 2025-08-27 Mark Zhandry

We introduce a private quantum money scheme with the note verification procedure based on Sampling Matching, a problem in the one-way communication complexity model introduced by Kumar et al.[Nature Communications 10, Article number: 4152].…

Quantum Physics · Physics 2019-11-22 Niraj Kumar