Cryptocurrency + Quantum Computing := Encryption Fail, The Next Y2K

Over the last several months I’ve been researching Quantum Computing (QC) and trying to determine how far we’ve come from the theoretical to the practical implementation.  It seems we are in the early commercial prototypical phase.

Practical Application of QC

The most discussed application of Quantum Computing has been to crack encryption.  Encrypted data that may take months or years to decipher given our current supercomputing capabilities, may take hours or minutes when the full potential of Quantum Computing has been realized.

Bitcoin and Ethereum Go Boom

One source paraphrased: Once quantum computing is actualized, encryption will be in lockstep progress, and a new cryptology paradigm will be implemented to secure our data. This kind of optimism has no place in the “Real World”. and most certainly not in the world financial markets.   Are there hedge funds which rightfully hedge against the cryptocurrency / QC risk paradigm?

Where is the Skepticism?

Is there anyone researching next steps in the evolution of cryptography/encryption, hedging the risk that marketplace encryption will be ready? The lack of fervor in the development of “Quantum Computing Ready” encryption has me speechless. Government organizations like DARPA / SBIR should already be at a conceptual level if not at the prototypical phase with next-generation cryptology.

Too Many Secrets

Sneakers“, a classic fictional action movie with a fantastic cast, and its plot, a mathematician in secret develops the ultimate code-breaking device, and everyone is out to possess the device.  An excellent movie soon to be non-fictional..?



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