⛔️Quantum computing may become a threat to digital payments — alarmist narrative or real risk?

⛔️Quantum computing may become a threat to digital payments — alarmist narrative or real risk?

The ability of quantum computers to break current cryptographic methods could have severe consequences for multiple areas of digitalpayments.
Key risks include:

▶️Instant payments: real-time transfer platforms (such as FedNow) rely on public key cryptography to sign messages. If compromised by a quantum-capable attacker, transactions could be intercepted or falsified in real time.

▶️Cryptocurrencies: blockchain networks are not quantum-resistant. Bitcoin, Ethereum, and other cryptocurrencies use elliptic curve digital signatures (ECDSA), which are vulnerable to quantum attacks. A malicious actor with quantum capabilities could forge signatures or extract private keys, putting both assets and the integrity of transaction histories at risk.

▶️Global financial networks: international infrastructures (such as SWIFT) depend on encryption to safeguard financial communications. A quantum computer could break these protections and reveal confidential data, enabling large-scale fraud.

👉The security of digital payments heavily relies on RSA and ECC algorithms for authentication and transaction security. Their strength lies in the impossibility, with classical methods, of deriving private keys from public keys. Quantum computing, however, may overcome this safeguard.

👉👉 Organizations such as NIST (National Institute of Standards and Technology, USA🇺🇸) are already working on mitigation. NIST is standardizing post-quantum cryptographic algorithms, resistant to quantum attacks, and has approved the first series of replacements for RSA and ECC.

#knowledge #security #world_wide #USA

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