Quantum Computing Could Bring Bitcoin Chaos. Rush Is On To Stop Crypto-geddon. - OODAloop

Start your day with intelligence. Get The OODA Daily Pulse. Informing your decisions with actionable intelligence Home > Briefs > Technology > Quantum Computing Could Bring Bitcoin Chaos. Rush Is On To Stop Crypto-geddon. For years, the biggest bitcoin obstacle was regulators, who had control over how the cryptocurrency was used, taxed and tracked. Now the biggest threat may be physics. The fast rise of quantum computing, which works on a subatomic level using exotic technologies, threatens to upend the cryptography that secures all blockchain-based digital assets. And the clock may already be ticking. Quantum computing aims to solve problems that are too complex for today’s classical, electronics-based supercomputers. Many tech giants — like Alphabet’s Google, IBM, Microsoft and Nvidia — are pursuing quantum computing research. So are a host of feisty startups. Proponents contend that quantum technology opens the door to breakthroughs in drug discovery, weather forecasting, materials research and many other areas. But along with enormous upside, quantum computing brings risks. That’s because it’s widely believed that quantum computers will eventually overpower current data encryption technologies. Full commentary : Quantum Computing Could Bring Bitcoin Chaos. Rush Is On To Stop Crypto-geddon.