It isn’t certain when quantum computers will be able to break the encryption used to protect the world’s most sensitive data, but corporate technology leaders need to assess the risks of this scenario now…Even the most powerful traditional computers use binary digits, or bits, which can either be 0s or 1s. Quantum computers use quantum bits, or qubits, which represent and store information in both 0s and 1s simultaneously, known as superposition. Such machines have the potential to sort through a vast number of possible solutions to a problem within a fraction of a second to come up with a likely answer…

A fault tolerant quantum computer will be able to hammer away at problems indefinitely, giving them wherewithal to break encryption algorithms that companies and governments use to protect their most price-sensitive and important information… That moment might reasonably occur by around 2035…

Why worry about a scenario that’s looming perhaps a decade or more in the future? Because of a scenario some call “harvest now, decrypt later.” It envisions hackers stealing encrypted data today and sitting on it for years, hoping to realize its value at some point in the future when quantum computers are able to decrypt the information…Quantum computing has already progressed enough that companies can begin strategizing now for Q Day, the point at which quantum computers can break classic encryption…In August 2024, the National Institute of Standards and Technology (NIST), an agency of the Commerce Department, published three new algorithms for post-quantum encryption. Some companies are already moving ahead, including IBM and Apple….

Excerpts from Steven Rosenbush, Q Day’ Is Coming. It’s Time to Worry About Quantum Security, WSJ, Oct. 9, 2024