IBM Quantum, Microsoft, SanboxAQ, the University of Waterloo, MITRE, and PQShield have announced the formation of a post-quantum encryption coalition to help the world deal with the quantum future.
in 2022, determined that it would take a quantum computer with 300 million qubits to crack the Bitcoin blockchain fast enough to do any damage. By comparison, today’s most advanced quantum computers average a little over 100 qubits.
However, per the architecture described in that paper, it’s possible that more advanced qubit arrangements, chipsets, and optimization algorithms could significantly change the calculus involved and drop the theoretical 300-million-qubit requirement exponentially. For this reason, the global technology community is turning to quantum-safe encryption.
Now that the algorithms have been accepted and standardized, the coalition is set to begin its mission of using the deep knowledge and hands-on experience amassed by its members to ensure key institutions, such as government, banking, telecommunications, and transportation services are able to transition from current to post-quantum encryption.
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