IBM (NYSE: IBM) and Microsoft's (NASDAQ: MSFT) Quantum Plan Revealed! Uncover the Secrets to Future-Proofing Encryption Against Quantum Threats!

IBM (NYSE: IBM) and Microsoft’s (NASDAQ: MSFT) Quantum Plan Revealed! Uncover the Secrets to Future-Proofing Encryption Against Quantum Threats!

IBM and Microsoft, in collaboration with MITRE, PQShield, SandboxAQ (Google’s sibling company), and the University of Waterloo, have established a coalition to address the challenges of post-quantum cryptography (PQC). PQC is a crucial field aimed at mitigating potential threats posed by future quantum computers to current cryptographic schemes.

Current encryption methods, like RSA, rely on mathematical problems that are computationally infeasible for classical computers to decrypt. However, quantum computers, with sufficient hardware and architecture, theoretically have the potential to break these encryption schemes much faster than classical computers.

To prepare for the transition to PQC, the coalition, as highlighted by MITRE’s press release, emphasizes the development of standards for algorithms, creating secure implementations, and integrating post-quantum algorithms into cryptographic libraries and protocols.

Industries heavily reliant on mathematical encryption, such as blockchain and cryptocurrency, could be vulnerable to future quantum threats. Although the timeline for these threats is uncertain, the global technology community is proactively exploring quantum-safe encryption solutions.

In 2022, the National Institute of Standards and Technology (NIST) selected four proposed post-quantum encryption algorithms — CRYSTALS-Kyber, CRYSTALS-Dilithium, SPHINCS+, and Falcon — as candidates for a PQC-safe encryption standard. As of August 24, 2023, NIST announced the acceptance and standardization of three algorithms, with Falcon expected to follow in 2024.

With the algorithms accepted, the coalition aims to leverage the collective knowledge and expertise of its members to facilitate a smooth transition from current to post-quantum encryption. Key sectors such as government, banking, telecommunications, and transportation services will be a focus in ensuring their readiness for the evolving cryptographic landscape.

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