Financial firms, government agencies, and other sectors with sensitive data need to worry about the arrival of quantum computers today, even though a cryptographically relevant quantum computer (CRQC) may be decades away, experts warn. In late September, the Financial Services Information Sharing and Analysis Center (FS-ISAC) warned that crypto-procrastination is resulting in financial firms being unprepared for the future threats and data risks posed by quantum computers. A variety of factors — from interdependencies between firms to the need to support standards — have slowed planning and hampered adoption of post-quantum encryption. Yet, companies need to deal with the risk today, because sensitive data can be harvested and stored to be decrypted in the future, says Mike Silverman, chief strategy and innovation officer at FS-ISAC.

Full report : Despite daunting technical challenges, a quantum computer capable of breaking public-key encryption systems may only be a decade or two off.