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Global Financial System Faces Prospect of Quantum Computing Threats
The potential threats posed by advances in quantum computing to public-key cryptography (PKC) protocols widely used in the global financial system appear set to draw increased attention from governments and regulators amid intensifying efforts to mitigate the risk, says Fitch Ratings. The Bank of International Settlements (BIS) has warned that the arrival of practicable quantum computers could compromise cryptographic protocols, such as RSA2048, that underpin the security of financial-system data and transactions. At end-November 2023, the US National Institute of Standards and Technology closed its consultation for ... (full story)