Arqit drops plan to operate quantum encryption satellites
Summary
TAMPA, Fla. — British cybersecurity software developer Arqit is looking to sell a partly built satellite after scrapping plans for a space-based quantum encryption network. Instead, the company said it has developed a terrestrial distribution method that enables symmetric key cryptography without the risk and costs of building out a quantum communications network in space. The decision does not affect the construction of a satellite that Qinetiq is currently building under a contract partly funded by the European Space Agency. Arqit said there is still demand for quantum encryption satellites, including from government defense departments looking to avoid sending data traffic across international cables. Arqit recently announced customer contracts with cybersecurity firm Fortinet, computer developer Dell Technologies, and cloud giant Amazon Web Services to use its security software.