- APNIC’s Chief Scientist, Geoff Huston, discusses the shift to Post Quantum Cryptography (PQC) in the final PING podcast of 2024
- The transition is critical as quantum computing threatens current encryption methods like RSA and ECC
What happened: APNIC explores transition to post-quantum cryptography
In the final episode of the PING podcast for 2024, Geoff Huston, Chief Scientist at APNIC, highlights the urgency of transitioning from traditional public-private key cryptography methods, such as RSA and ECC, to Post Quantum Cryptography (PQC). He explains that quantum computers, which are expected to outperform classical systems within the next few decades, will be capable of breaking the encryption methods that currently secure digital information. This shift aims to prepare cryptographic systems for the threats posed by quantum computing, which could potentially solve complex mathematical problems much faster than today’s machines. Huston emphasizes that, while practical quantum computers capable of breaking RSA and ECC are not yet available, the transition to PQC must begin immediately to safeguard future digital communications.
Also read: APNIC fosters collaboration at Peering Asia 6.0
Also read: 42nd TWNIC IP Open Policy Meeting: APNIC on digital futures
What it’s important
The transition to Post Quantum Cryptography (PQC) is crucial not just for large enterprises but also for small companies, especially those in industries reliant on secure data exchange. One example is CipherTrace, a blockchain analytics startup that provides compliance and anti-money laundering tools. As a small company in the rapidly growing blockchain industry, CipherTrace needs to adopt quantum-resistant cryptographic algorithms to protect financial transactions and user data from future quantum threats. However, like many startups, CipherTrace may lack the resources to implement such cutting-edge technologies without significant investment or external support. This poses a potential vulnerability if quantum computing breakthroughs outpace the company’s ability to adapt.
This issue extends beyond CipherTrace to other small tech companies and startups in cybersecurity and financial services, where the cost of staying ahead of technological shifts is high. These companies will need to invest in research and development or partner with larger organizations to ensure they remain secure in a quantum-powered future. The challenge is compounded by the fact that the transition to PQC involves not only technical changes but also the adoption of new industry standards, which can be a complex, time-consuming, and expensive process for smaller firms with limited capacity.
