QuantumBlockVault: Post-Quantum Resistant Blockchain for Securing Business-critical Data

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Threat from various cyber-attacks is increasing in terms of number and annual loss. As per IBM's data breach report of 2022, the global average total cost of a data breach was $4.35M whereas the average cost of a ransomware attack was $4.54M. A sector which is hit hard by a data breach is healthcare with an average total cost of $10.10M. According to CSO Online report, In September 2022, Instagram was fined $403M by Ireland's Data Protection Commissioner (DPC) for violating children's privacy under terms of GDPR. There are threats of data theft, data loss, ransomware, and noncompliance with GDPR for companies whether small/medium/large-scale businesses. MIT Technology Review report suggests that quantum computers could break 2048-bit RSA encryption in 8 hours and this technology will catch up with the current encryption standard much sooner than expected. The companies with business-critical data which will still have value in the next 20 years are worried because of the concept of "Harvest Now, Decrypt Later (HNDL). In this project, we aim to provide a secure vault where companies can store business-critical data in encrypted form which will be safe against various cyber-attacks including futuristic post-quantum attacks.