The Quantum revolution threatens to break barriers of calculations as well as barriers of cybersecurity.  The ABC article underlines the need for anticipation and preparation for the upcoming quantum applications that could affect the foundations of cybersecurity:

“The cryptography used today will break, that’s the big problem.”

Victor Canivell, Qilimanjaro’s CBO

Thus, the preparation for the quantum paradigm should become a priority for different companies,  like financial ones, as well as for governments looking to preserve the confidentiality of sensible information. Nevertheless, this should be made gradually by identifying first the programs that need to be modified and investing in the new technology to develop cryptographic applications able to withstand the attack of a quantum computer.

Victor Canivell points out that there are already efforts from the US government with the NIST-National Institute of Standards and Technology looking to develop new cryptographic standards that should be resistant to quantum computing systems. He estimates that these standards will be announced within the next 18 months.

For the time being, we only have two strategies that have the potential to prepare enterprises: post-quantum cryptography and quantum key distribution (QKD). The QKD shows as being a promising and stable system for the moment that employs mechanical computing components to safeguard the sending of messages between two parties without the content being intercepted by a quantum computer and with the ability to detect if the message is intercepted. 

Even if the development of quantum computing technologies goes hand in hand with many secure systems nowadays and technological trends, blockchain technologies such as Bitcoin or Ethereum will also be no match for quantum computing. Therefore, they will also have to adapt to post-quantum systems, explains Victor Canivell.

Lastly, he points out that the need for preparation opens the road towards huge opportunities for cybersecurity firms specializing in helping large enterprises make their transition to protect themselves from the effects of quantum computing, a nascent business segment that is expected to grow in the coming years.