The Royal Bank of Canada (RBC) is opening a cyber security lab and investing $1.78 million into research at the University of Waterloo to develop advanced cybersecurity and privacy tools, announced today.
The funding will support researchers in the David R. Cheriton School of Computer Science and the Department of Combinatorics and Optimization at Waterloo’s Faculty of Mathematics, including $300,000 for IQC faculty member Michele Mosca for CryptoWorks21, an enhanced education program focused on quantum-safe cryptosystems. The program trains graduate students and postdoctoral fellows in next-generation cryptographic tools.
“New security challenges will arise with evolving quantum technologies and we need to start planning now to protect ourselves from security threats such as fraud, identity theft, and the failure of critical infrastructures,” said Mosca, University Research Chair. “This partnership allows CryptoWorks21 to continue preparing researchers with the professional knowledge and technical skills needed to create quantum-safe tools for the 21st century.”
Designed for postdoctoral fellows and students seeking Master’s or PhD degrees, CryptoWorks21 fosters collaboration between young scientists and experts in quantum-safe cryptographic research. Through a network of partners and collaborators in research centres worldwide focusing on cryptography and quantum information, CryptoWorks21 students build relationships with cryptographic communities in academia, industry and government.