QANplatform X Exclusive Change partnership

We are pleased to announce, that Exclusive Change, Western Union partner with around 400 currency exchange stores in Europe is testing the QAN blockchain platform.

QANplatform
Apr 12 · 4 min read

Exclusive Change is one of the longest running currency exchange groups in Central Europe, providing high-level services through its approximately 400 offices for more than 25 years.

Exclusive Change operates currency and exchange and physical gold trading in the major shopping malls, largest cities and key tourist areas. The mission of the company is to develop financial culture by giving advice to their customers through a number of channels in order to avoid exchange-related anomalies.

“As a founding member of the National Association of Hungarian Currency Exchanges (MPOE), we are doing our best to make currency exchange regulations even more transparent.” — said Gyula Madarasz, CEO of Exclusive Change.

“Trust and security are key pillars of our industry. We are aware of the disruptive power of quantum computing and what it means for cybersecurity and our business. We consulted and read several publications from Deloitte, PwC, KPMG, EY and also from Gartner reporting that you have to start getting ready for the quantum era.

We can use QAN’s blockchain and quantum-resistant cybersecurity solutions in many areas of our daily operations to make currency exchange even more transparent and secure, assure our customers that doing business with us is the best possible option they have.

It is important to note, that there are many exchanges, who deal with cryptocurrency, but we stay and focus only on FIAT exchange and use the blockchain technology only for our inside operations without dealing with the “e-money”. — said Gyula Madarasz, CEO of Exclusive Change.

Johann Polecsak CTO of QANplatform commented — “We are pleased to have Exclusive Change as the first company from the finance and banking industry who is starting to test and use QAN’s blockchain and quantum-resistant cybersecurity solutions.”

Financial data (next to health data) is one of the most sensitive kinds of data which quantum computer attacks can harm because of the long data expiration time.

The key piece of information what is the most often overlooked when speaking about quantum cybersecurity: is that if someone (think ISPs or hackers) is actively monitoring your company’s office / VPN traffic today, there is no way to stop them to uncover your internal communication within ~2 years from now. You can only protect your organization from such attacks at this very moment, as many already realised and acted against this threat.

Regarding to quantum computing attacks on blockchain: All cryptocurrency wallets relying on EC cryptography which have at least 1 outgoing transaction will break in 2023 with IBMs quantum computer. This affects 99% of today’s blockchain platforms.

Example how the finance and banking industry is using blockchain:

Various finance and banking industry giants like Bank of America, HSBC, Credit Suisse, UniCredit, J.P Morgan, UBS, Commerzbank, Deutsche Bank have already built blockchain Proof-of-Concepts (PoC) mostly for one of the following finance and banking industry use-cases:

  • Peer To Peer Money Transfer System
  • Digital Identity Check
  • Blockchain-Enabled Trading Platforms
  • BlockChain -Driven Fundraising
  • Blockchain In Hedge Funds
  • Digital cash, cryptocurrency

Exclusive Change is entering now the finance and banking industry and blockchain space with QAN blockchain platform.

— — —

About Exclusive Change:
Exclusive Change is one of the longest running currency exchange groups in Central Europe, providing high-level services through its approximately 400 offices for more than 25 years.

About QANplatform | QAN blockchain platform:
QANplatform is the Quantum-resistant hybrid blockchain platform. Build your software applications like DApps or DeFi and run business processes on blockchain. Deploy QANplatform to Amazon AWS or Linode Cloud Provider in 5 minutes.

Website: qanplatform.com
Twitter: https://twitter.com/qanplatform
Facebook: https://www.facebook.com/QANplatform
Telegram: https://t.me/QANplatform

#QANplatform #blockchain #blockchaintechology
#quantumcomputing #cybersecurity #finance #banking #moneyexchange

QANplatform

QANplatform is the Quantum-resistant hybrid blockchain platform.

Sign up for QANplatform snacks

By QANplatform

Sign up to our newsletter to get news, use cases, ebooks and curated articles about blockchain and quantum-computing in your inbox. Take a look.

By signing up, you will create a Medium account if you don’t already have one. Review our Privacy Policy for more information about our privacy practices.

Check your inbox
Medium sent you an email at to complete your subscription.

QANplatform

QANplatform is the Quantum-resistant hybrid blockchain platform. Build Smart contract, DApps, DeFi, NFT and run business processes on blockchain in 5 minutes.

QANplatform

Written by

QANplatform is the Quantum-resistant hybrid blockchain platform. Build Smart contract, DApps, DeFi, NFT and run business processes on blockchain in 5 minutes.

QANplatform

QANplatform is the Quantum-resistant hybrid blockchain platform. Build Smart contract, DApps, DeFi, NFT and run business processes on blockchain in 5 minutes.

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store