LINE

Text:AAAPrint
Sci-tech

Researchers propose new form of virtual money with ultra security

1
2019-05-09 09:09:52Xinhua Editor : Gu Liping ECNS App Download

A researcher at the University of Cambridge has proposed a new type of virtual money, which is supposed to be more secure and efficient through a unique mechanism, the university said on Wednesday.

Dubbed "S-money", the new framework could ensure completely unforgeable and secure authentication, and allow faster and more flexible responses than any existing financial technology by harnessing the combined power of quantum theory and relativity, according to the university.

The framework, developed by Professor Adrian Kent from the university, can be thought of as secure virtual tokens generated by communications between various points on a financial network, which respond flexibly to real-time data across the world and "materialize" so that they can be used at the optimal place and time.

It allows users to respond to events faster than familiar types of money, both physical and digital, which follow definite paths through space.

"It's a slightly different way of thinking about money: instead of something that we hold in our hands or in our bank accounts, money could be thought of as something that you need to get to a certain point in space and time, in response to data that is coming from lots of other points in space and time," said Kent.

Researchers aim to begin testing the practicality of the framework on a small scale later this year. "S-money" requires very fast computations, but may be feasible with current computing technology, according to the university.

The study has been published in the journal Proceedings of the Royal Society A.

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2019 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.