Tag #Post-Quantum Cryptography

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forbes.com

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Jun 13, 07:12

Quantum Computing Threat Spurs Global Banks to Initiate Post-Quantum Migration

Europol's February warning about quantum computing's threat to current encryption prompted global banks and central banks to initiate post-quantum migration plans, fearing criminals' "steal-now-decrypt-later" strategies targeting payment data.

Quantum Computing Threat Spurs Global Banks to Initiate Post-Quantum Migration

Europol's February warning about quantum computing's threat to current encryption prompted global banks and central banks to initiate post-quantum migration plans, fearing criminals' "steal-now-decrypt-later" strategies targeting payment data.

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How are various actors (banks, central banks, and technology companies) responding to the threat of quantum computing to current encryption methods?

The urgency stems from the vulnerability of public-key cryptography (RSA and elliptic-curve algorithms) used in payment systems to quantum computing. Criminals are already stockpiling encrypted data, anticipating decryption with advanced quantum computers, emphasizing the need for proactive mitigation strategies.

theguardian.com

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Mar 20, 04:12

UK Cybersecurity Agency Warns of Quantum Hacking Threat, Urges System Upgrades by 2035

The UK's NCSC issued new guidance urging organizations to adopt post-quantum cryptography by 2035 to protect against future quantum computer attacks, outlining a phased approach with deadlines for identifying services (2028), overhauls (2031), and full migration (2035).

UK Cybersecurity Agency Warns of Quantum Hacking Threat, Urges System Upgrades by 2035

The UK's NCSC issued new guidance urging organizations to adopt post-quantum cryptography by 2035 to protect against future quantum computer attacks, outlining a phased approach with deadlines for identifying services (2028), overhauls (2031), and full migration (2035).

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What are the potential consequences for organizations that fail to adopt post-quantum cryptography by the recommended deadlines?

Quantum computers' superior processing speed enables them to solve complex mathematical problems underpinning current encryption, rendering systems vulnerable. The NCSC's guidance provides a phased approach: identifying services by 2028, major overhauls by 2031, and full migration by 2035.

forbes.com

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Jun 12, 10:12

Quantum Computing Threat to Cryptocurrencies: A Real Risk, But Not Immediate

By 2024, 500 million people held cryptocurrencies, a 34% increase from the previous year, raising concerns about the vulnerability of these assets to future quantum computing advancements that could break existing encryption. Quantum computers leverage the properties of quantum mechanics to perform ...

Quantum Computing Threat to Cryptocurrencies: A Real Risk, But Not Immediate

By 2024, 500 million people held cryptocurrencies, a 34% increase from the previous year, raising concerns about the vulnerability of these assets to future quantum computing advancements that could break existing encryption. Quantum computers leverage the properties of quantum mechanics to perform ...

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What is the immediate impact of the potential vulnerability of current cryptographic schemes used in cryptocurrencies to quantum computing advancements?

By 2024, an estimated 500 million people held cryptocurrencies, a 34% yearly increase. These assets, representing substantial personal wealth and national reserves, are vulnerable to quantum computing advancements that could break current encryption, potentially causing significant financial losses. Cryptocurrencies utilize cryptographic schemes like ECDSA and Schnorr signatures, vulnerable to Shor's algorithm on sufficiently powerful quantum computers.

forbes.com

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Dec 29, 07:08

Quantum Computing Threat to Bitcoin and Global Encryption

Google's Willow quantum computer, while a significant advancement, does not pose an immediate threat to Bitcoin's encryption; however, a future protocol update is necessary to ensure long-term security, alongside a global effort to upgrade all encryption methods to withstand quantum computing.

Quantum Computing Threat to Bitcoin and Global Encryption

Google's Willow quantum computer, while a significant advancement, does not pose an immediate threat to Bitcoin's encryption; however, a future protocol update is necessary to ensure long-term security, alongside a global effort to upgrade all encryption methods to withstand quantum computing.

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What is the immediate threat posed by Google's Willow quantum computer to Bitcoin and other cryptographic systems?

Google's new quantum computer, Willow, poses a long-term threat to Bitcoin's encryption, requiring a protocol update. However, achieving the necessary qubit count to break Bitcoin's encryption within a decade is highly improbable, given current technological progress. This update will be complex but not an existential threat.

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