The US Bureau of Industry and Security (BIS) has sanctioned 27 companies “threatening US national security.” Among them are 8 Chinese companies developing quantum technologies.
According to the U.S. Department of Commerce, 27 new organizations were
added to the list for various reasons. Eight Chinese companies have come under sanctions over the risks associated with quantum computing technology. However, these measures are unlikely to affect the operations of these companies and will not significantly delay the emergence of quantum computers.
“Eight technology enterprises based in China have been added to the list as part of the Commerce Department’s efforts to prevent the use of new US technologies for PRC quantum computing, which support military applications such as stealth technology and anti-submarine programs, and have the ability to break ciphers or develop strong encryption “.
Quantum computers have been cited as a potential threat to cryptocurrencies due to their theoretical ability to break many of the cryptographic algorithms that secure blockchains. Quantum computing expert Andrew Fursman said in May that he strongly believes in the threat to Bitcoin from quantum computers.
“Whether quantum computers appear tomorrow, five or ten years from now, they can be dangerous to cryptography. These devices will be able to do what you might not want if you keep a secret. ”
In his opinion, it is worth reconsidering the cryptographic protection of blockchains, given what quantum computers of the future can do.
Back in 2019, it was reported that the US National Security Agency (NSA) was planning to create a quantum-resistant crypto technology. The goals of the project are currently unknown. In 2020, Data61, a CSIRO member company, together with the Monash Blockchain Technology Center, announced the development of a blockchain protocol that is resistant to hacking using quantum computers. In the same year, North Carolina-based electronics maker Honeywell built a 64-qubit quantum computer that surpasses Google and IBM counterparts.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
