Quantum Computing Poses Bigger Threat to Financial Infrastructure Than Wallets
Summary
- Commercialized quantum computing could put the financial system at greater risk than individual wallets.
- Andrew Gault, chief executive officer of Zerotier, said the most dangerous vulnerability in the financial system is not stored data but data moving between institutions.
- He said hackers are collecting interbank messages, payment authentication records and digital signature data to decrypt them later with quantum computers.
Forecast Trend Report by Period
Quantum computers, once commercialized, could pose a greater threat to the financial system than to individual wallets, CoinDesk reported on May 30.
Andrew Gault, chief executive officer of Zerotier, said the financial system's most dangerous vulnerability is not stored data but data moving between institutions.
Gault said hackers are already collecting encrypted financial data and storing it for future decryption once quantum computers become powerful enough. The data being gathered includes interbank messages, payment authentication records and digital signature data.
"Attackers do not need to read the data right away," he said. "They can store it now and wait for quantum computing technology to reach a tipping point."
Uk Jin
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