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Visa, JPMorgan Already Preparing for Potential Quantum Cyberattacks

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A component of a Google quantum computer.

Security experts and companies working on quantum computing believe the technology could be used for cyberattacks.

Credit: Reuters

Researchers at Visa Inc. and JPMorgan Chase & Co. are developing new processes to try to thwart eventual quantum-computing cyberattacks.

Visa's Rajat Taneja said public-key cryptography is used to secure much of the financial industry.

Some researchers believe it would take a quantum computer with 250 million qubits to break public-key cryptography currently in use, with the RSA method particularly at risk because it is based on integer factorization, using numbers about 1,000 digits long. Quantum computers potentially could solve integer factorization problems millions of times faster than supercomputers.

JPMorgan's Yassir Nawaz noted that a quantum computing attack could compromise the data in its path and the digital signature algorithms used to verify the identity of some secure websites.

JPMorgan is working to identify high-priority data sets that should be secured first by new encryption standards being developed as part of a cryptography competition led by the National Institute of Standards and Technology.

From The Wall Street Journal
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