An Investigation of Quantum Cryptography Implementation for Secure Online Banking in University of Jos, Plateau State
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- NGN 5000
Background of the Study
With the increasing reliance on digital platforms for financial transactions, the need for robust cybersecurity measures has never been more pressing. Traditional cryptographic techniques, while effective, are beginning to show vulnerabilities in the face of advanced threats and computational power. Quantum cryptography, which utilizes quantum principles such as entanglement and the uncertainty principle, promises to offer unbreakable encryption, making it an ideal solution for securing online banking transactions (Zhang et al., 2024). One of the most well-known quantum cryptography protocols is Quantum Key Distribution (QKD), which enables secure communication by detecting eavesdropping attempts in real-time. Given the rapid advancements in quantum computing, it is critical to explore how quantum cryptography can be applied to secure sensitive financial transactions, especially in online banking.
University of Jos, Plateau State, serves as a pertinent case study to explore the application of quantum cryptography in the realm of secure online banking. As universities continue to transition to digital systems for handling student fees, financial transactions, and other monetary activities, the security of these transactions becomes a key concern. This study will investigate the feasibility and implementation of quantum cryptography for enhancing the security of online banking platforms at the University of Jos.
Statement of the Problem
As online banking grows in popularity, particularly in academic institutions, securing sensitive financial transactions becomes a critical challenge. Traditional encryption techniques, such as RSA and AES, may be vulnerable to the computational power of quantum computers in the future, making them less reliable for long-term security (Shor, 2023). Although quantum cryptography has shown promise in securing communications, its implementation in online banking systems, particularly within universities, remains largely unexplored. This study seeks to investigate the potential of quantum cryptography to secure online banking transactions at the University of Jos, Plateau State, and identify the challenges associated with its adoption.
Objectives of the Study
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To explore the feasibility of implementing quantum cryptography for secure online banking transactions at the University of Jos.
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To evaluate the effectiveness of quantum cryptography in securing online banking systems compared to traditional encryption methods.
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To identify the challenges and barriers in adopting quantum cryptography for online banking in Nigerian universities.
Research Questions
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How feasible is the implementation of quantum cryptography for secure online banking at the University of Jos?
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How does the security of online banking transactions at the University of Jos compare between quantum cryptography and traditional encryption methods?
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What challenges and barriers exist in implementing quantum cryptography for online banking in Nigerian universities?
Significance of the Study
This study will contribute to the growing body of knowledge on quantum cryptography and its practical applications in enhancing the security of online banking systems in Nigerian universities. The findings could guide the University of Jos and other institutions in adopting cutting-edge technologies for securing digital financial transactions.
Scope and Limitations of the Study
This study will focus on the implementation of quantum cryptography for online banking at the University of Jos, Plateau State. It will not cover other quantum cryptography applications or online banking systems in other universities.
Definitions of Terms
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Quantum Cryptography: A branch of cryptography that uses quantum mechanical principles to provide secure communication that is resistant to eavesdropping.
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Quantum Key Distribution (QKD): A technique in quantum cryptography that enables secure communication by detecting the presence of eavesdroppers.
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Online Banking: A method of banking that allows customers to conduct financial transactions over the internet, such as paying fees, transferring funds, and checking balances.
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