Quantum Money : Opportunities, Challenges and Open Issues

Abstract

Quantum computing possesses capabilities beyond that of classical computers. Quantum cryptography can be a way to counter increasing computational powers. Traditional money can be counterfeited and is prone to fraud. Quantum money can be implemented to overcome the problems of traditional money. Using laws of quantum physics, it can create currencies which are impossible to replicate, and are easily verifiable. This paper talks about various Quantum Money schemes that have been introduced in the past, the impact it had, security issues and countermeasures related to it, the future possibilities and opportunities available with it.