EU Regulators Warn Quantum Computing Could Weaken Blockchain Security
The risk could emerge before any commercially viable quantum application, putting cryptography used in communications, transactions, databases and blockchains under scrutiny.
European Supervisory Authorities warned that quantum computing could undermine cryptography securing blockchains, with the risk potentially emerging before any commercially viable application reaches the market.
The EU authorities called on supervisors and market participants to strengthen preparedness for risks from emerging technologies, including quantum computing. Their warning covers cryptography used for communications, transactions, databases and blockchains.
For blockchain systems, the concern is that advanced quantum capabilities could eventually compromise the cryptographic methods that protect security. The risk is tied to future technology but may materialize sooner than a commercially viable quantum application.
Supervisors and market participants are expected to strengthen preparedness and monitor risks tied to quantum computing across the EU financial system.
