G7 Urges Transition to Post-Quantum Cryptography; Crypto Developers Test Defense Schemes

According to ME News, on September 5 (UTC+8), the G7 Cybersecurity Working Group stated in its latest report that quantum computing poses both security and economic threats to public and private institutions, and that organizations should immediately begin migrating to post-quantum cryptography (PQC). The working group noted that the migration process may take several years, as attackers are already capable of collecting and storing encrypted data to decrypt it once sufficiently powerful quantum computers become available. Quantum computing could also break digital signatures, enabling identity spoofing and exposing enterprises and their supply chains. Although the report did not mention cryptocurrencies, similar public-key cryptography is used in blockchain wallets and transaction authorization. Current quantum computers cannot break Bitcoin’s cryptography, but developers are considering PQC solutions such as BIP-360. Ethereum researchers plan to replace multiple cryptographic components used in accounts, validators, and applications. The Solana Foundation has tested post-quantum signatures on testnets and introduced an optional hash-based vault. The G7 working group also urged governments to support related research, public-private collaboration, and national PQC strategies. (Source: ODAILY)