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Toshiba to launch quantum cryptography services this year

Tamper-proof data encryption method targets financial and medical sectors

The Japanese company hopes to carve out a significant portion of the global quantum cryptography market, which is forecast to top $5 billion by 2025.

TOKYO -- Toshiba is planning to launch quantum cryptography services in the U.S. by September, first targeting the financial and medical sectors as the company looks for a new way to drive growth.

Quantum cryptography has been widely touted as making communication virtually invulnerable to hacking. Toshiba is planning a fee-based system to charge governments, institutions and other entities for use of the new services.

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