Quantum threat: the end of cryptography?

By admin on November 22, 2022 in Stakeholder updates

Is there a threat to modern data security algorithms that could make superannuation transactions crackable by cybercriminals? Yes, the threat is real – quantum computing will eventually render most public key cryptography futile.

Our recent expert webinar with the Sydney Quantum Academy (SQA) gave us top five takeaways:

1. Today’s digital cryptography is based on ‘factorisation.’ These algorithms take classical computers hundreds of years to crack.

2. By around 2030 (that’s just over seven years away!), quantum computers will be able to crack these algorithms in just minutes.

3. Cyber criminals can (and already do!) collect data today, and then wait for technology to become available to decrypt it.

4. The U.S. National Institute of Standards and Technology (NIST) and Australian Cyber Security Centre (ACSC) are working on this problem. They expect to release quantum-proof standards by 2024.

5. Organisations need to add this to their cyber security planning now, to make sure today’s data is safe from tomorrow’s quantum capabilities.

You can read the full article here: