G7 urges immediate shift to PQC against quantum computing threat

The Group of Seven urged governments and companies to begin transitioning now to post-quantum cryptography, or PQC, to prepare for the possibility that advances in quantum computing could render existing cryptographic systems ineffective, Decrypt reported. In a recent report, the G7 said the timing of when powerful quantum computers might be able to break widely used public-key cryptography remains uncertain, but recent technological progress calls for preemptive action. The group also said attackers could steal encrypted data now and store it for future decryption with quantum computers. While the report did not directly mention cryptocurrencies, public-key cryptography is also used in blockchain wallets and transaction signatures.