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A quantum leap in fear

The advent of quantum computing poses a threat which could break open the security systems protecting the world’s financial data and transactions. 

Professor Michele Mosca

Protecting financial data has always been a cat-and-mouse game. What is different now is that the cat could be de-clawed. Quantum computing, a new form of computer processing, promises to break open the security systems that safeguard much of the world’s financial data and transactions.

Quantum computing is expected to be much more powerful than anything currently available because it does not rely on the binary digits 1 or 0 to represent data but exploits the fact that subatomic particles can exist in more than one state at once.

Experts cannot say with certainty when a fully-fledged quantum computer will exist but, once it does, public key encryption schemes in use today will be breakable. Quantum computer algorithms that can crack such schemes have already been put through their paces.

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