This article briefly:
•IBM is launching multiple quantum computing projects that could unleash a wave of quantum algorithms and bring new opportunities.
•To date, no quantum achievements have been able to be used in enterprise applications, but after IBM’s launch, these may not be too far away.
•However, cryptocurrency custodians may need to step up their game if they want to withstand the level of attacks posed by quantum algorithms.
Cryptocurrency companies eyeing strong security may soon need to take notice of the first real-world applications of IBM’s quantum computers. The computing giant is launching 10 new projects that use algorithms used in supercomputers to break traditional security measures.
IBM is launching several projects that combine quantum computing and traditional supercomputing in what are believed to be the first practical applications of quantum computers, which use transient subatomic elements called qubits to store data, unlike traditional machines that store information as 1s and 0s.
The potential of quantum algorithms
IBM's project reportedly marks the first time a company has been able to control qubits so that the data they hold can be used for scientific calculations. The breakthrough will facilitate the development of quantum algorithms. However, IBM's vice president of quantum, Jay Gambetta, said commercial applications are still some way off.
“It will take some time for us to move from scientific value to commercial value. But in my opinion, the distinction between research and commercialization is getting smaller and smaller,” he said.
The technology promises to solve problems that were previously unsolvable by conventional computers, such as the so-called traveling salesman problem, which involves minimizing the distance a salesman has to travel on local highways when visiting different parts of the same region.
In January, Chinese researchers claimed to have found a way to optimize the Schnorr algorithm, which can factor large prime numbers using quantum computers. While their research was theoretically sound, their findings have never been experimentally proven.
The impact of quantum on encryption security
IBM's efforts could threaten encryption algorithms used by the banking industry and governments. Japanese tech giants Fujitsu Siemens and RIKEN have announced plans to launch a quantum computer by 2023. However, while the project has been used for research and development, there has been no news of any commercial applications.
Now, the development of quantum algorithms, driven by IBM’s efforts, could threaten long-standing cybersecurity standards, such as the 256-bit asymmetric encryption standard. This could jeopardize crypto assets held by exchanges that use the standard to protect customer information.
The danger is amplified as banks show growing interest in tokenizing real-world assets. Before assets can be exchanged, they must be held by a custodian who takes reasonable security measures.
If custodians do not tighten security, bad actors could potentially link asset holders to large assets such as real estate or cars. This vulnerability could expose owners and recipients to real-world robberies or ransomware attacks to regain access to their assets. It could also increase the opportunity for surveillance if governments are able to link all on-chain assets to individuals.
Do you have any comment on how IBM's new quantum computer could threaten encryption security or anything else? #加密资产安全 #IBM量子计算机