The industry may have 10 years or less to devise defenses against quantum computers capable of breaching its elliptic curve cryptography.
By many accounts, quantum computing (QC), which uses atomic “spin” instead of an electrical charge to represent its binary 1’s and 0’s, is evolving at an exponential rate. If QC is ever realized at scale, it could be a boon for human society, helping to improve crop yields, design better medicines and engineer safer airplanes, among other benefits. The crypto sector could profit too. Just last week, for instance, a Bank of Canada-commissioned project simulated cryptocurrency adoption among Canadian financial organizations using quantum computing. “We wanted to test the power of quantum computing on a research case that is hard to solve using classical computing techniques,” said Maryam Haghighi, director of data science at the Bank of Canada, in a press release. But, others
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