G7 issues warning on quantum computing threats to crypto encryption, urging industry adoption of post-quantum security measures.
Regulation & Gov ·
The G7's cybersecurity working group has declared quantum computing a security and economic threat, urging organizations to begin transitioning to post-quantum cryptography immediately. The group cautioned that while the timeline remains uncertain, recent progress in quantum development suggests that widely-used public-key cryptography could eventually be compromised, exposing data already stolen and stored today to future decryption.
Blockchain systems face particular vulnerability since the same cryptographic mechanisms protecting traditional digital infrastructure also secure cryptocurrency wallets and authorize transactions. Bitcoin developers are evaluating proposals like BIP-360 to prepare the network for new signature schemes, though any major change faces obstacles due to Bitcoin's governance structure requiring broad consensus. Ethereum researchers are planning replacements for multiple cryptographic components, including a recent proposal to rebuild the deposit contract to accommodate larger post-quantum keys. Solana may have a faster migration path, given its use of EdDSA signatures; the Solana Foundation has already tested post-quantum signatures on a test network and created an optional hash-based vault.
The G7 called for coordinated action across public and private sectors, recommending that governments fund research and embed quantum-safe requirements into procurement policies, while organizations identify critical systems for upgrade during scheduled maintenance to manage costs. The extent and timeline for industry-wide adoption of post-quantum defenses across major blockchains remains undefined.