Good morning, I would like to share a Boston Consulting Group (BCG) report titled ‘Ensuring Online Security in a Quantum Future’.
As many readers will know, online security is of ever-growing importance across the globe, especially with the shift towards a more digitised workforce.
Cryptography and communications security is of high priority to many industries. The existence of quantum computing could challenge traditional encryption methods. BCG have been following the business of quantum computing for several years.
I would like to highlight a few key points from the BCG report:
- According to BCG, Google CEO Sundar Pichai expects that quantum computing will break encryption as we know it today in the next 5-10 years.
- Once quantum computers are sufficiently capable – public key cryptography – a system that for years has protected online activities and communications, could become obsolete.
- Public key cryptography enables 4.5 billion users to access approximately 200 million websites and engage in some US$4 trillion of e-commerce annually.
- Quantum technology not only creates a known problem for modern cryptography, but also provides possible solutions, acting as a means for new methods of encryption and cyber threat detection.
Archer will be attending the upcoming Q2B Conference next week in Silicon Valley, USA, with cryptography high on the conference agenda, and I look forward to updating you on Archer’s involvement in the quantum computing industry.
Dr Mohammad Choucair, FRACI FRSN GAICD
Chief Executive Officer
Archer Materials Limited (ASX:AXE)