Future of Quantum Computing and Cryptography : Why Quantum Computing Requires Quantum Cryptography
The Global
Quantum Cryptography Market Accounted At US$ 105.3 Mn In 2018 And Is Expected
To Reach US$ 1,996.1 Mn By 2027 With A CAGR Growth Rate Of 39.2% In The
Forecast Period From 2019 To 2027.
Present standards for encryption depend upon the incompetency of traditional computers to factor big numbers that serves as a basis of a number of popular cryptography methods. This further raises an entire new order for cyber security distress for the organizations, who may certainly find the paths of encrypted data cracked open at ease. Thus to address all these concerns, the National Institute of Standards and Technology (NIST) has proposed to find the novel standards within cryptographic algorithms that will likely not be vulnerable towards the attacks from quantum computers.
The business instances along with the prospects for quantum computing - despite of being overstated at times- have undeniably been fascinating. The potential benefits of quantum computing expected for wide-ranging enterprises have been remarkable.
A number of tech giants including Google, Microsoft, IBM and Intel have been making huge investments within the extent, with various major governments ensuing suit. Recently, the Trump government passed a bill offering nearly $1.2 billion (USD) towards the quantum research, which was followed by the European Union and China, by taking a similar move of pledging almost €1 billion for the cause and investing billions of dollars within the technology for several years respectively.
Although it is believed that the quantum advantage (i.e. creating a quantum computer that will be serve as an enhanced version of traditional computing at a really valuable task) would still be far away from achieving, however the future prospective for these systems are both tremendously exciting as well as to some extent challenging. This is mainly due to the fact that in addition to the positive uses of quantum-level technology, there are a few negative ones. Possibly one of the key concern is the ability of the quantum computing to entirely disrupt the present encryption techniques, pushing an immense quantity of encrypted data at threat of being attacked at any time. This data at threat might include vital financial statistics or certain very confidential information that can have a huge impact over the business.
Present standards for encryption depend upon the incompetency of traditional computers to factor big numbers that serves as a basis of a number of popular cryptography methods. This further raises an entire new order for cyber security distress for the organizations, who may certainly find the paths of encrypted data cracked open at ease. Thus to address all these concerns, the National Institute of Standards and Technology (NIST) has proposed to find the novel standards within cryptographic algorithms that will likely not be vulnerable towards the attacks from quantum computers.
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