Quantum computing has arrived, and it’s already showing signs of being more than just the latest technology buzzword.
Not sure what Quantum computing is? You are not alone. Most companies, according this study from the World Economic Forum, haven’t yet got a plan to utilise the amazing potential of Quantum.
At SouqBox, we think quantum is a whole new paradigm of computing and here’s why;
OPPORTUNITIES
It is important to understand that there are many mathematical problems that a Quantum computer won’t solve any faster than a classical computer.
However, where this is a high number of possible outcomes in the model, this is where Quantum is a step change in capability. One example class of problem is Non-deterministic Polynominal (NP) calculations. You may have come across the traveling salesman route planning dilemma as a well-known example. IBM put together this helpful article if you want to dig a little deeper.
At SouqBox , our research suggests only around 20-25% of companies have a clearly identified need that can only be solved by a quantum computer. There are some great examples of this being deployed now in pharmaceutical research (protein folding analysis), complex manufacturing modelling and mobile network traffic modelling for eg.
THREATS
Quantum computing often grabs headlines as a threat to cryptography and encryption. Almost every bit of data you can think of is secured on databases through encryption, typically a SHA256 based encryption tool. Today, that is in itself pretty secure, ie, if this were stolen by a hacker, they would not be able to interpret the data without the encryption key. Even Bitcoin uses this kind of encryption, and in case you are wondering, cryptocurrency gets its name from the fact that the blockchain powering it is encrypted this way.
What does this mean to you? fair question. In short, if you are unfortunate enough to be hacked and your data is stolen, unless its quantum safe, it may be possible that when Q day comes, the bad guys will be able to decrypt your data and access it. If you are storing data that has a lifespan of more than a year then this is very much relevant to you. For eg, lawyers, wealth managers, accountants, anyone holding data that will still be sensitive in a few years time.
Introducing Q-Day.
Q-Day is the day when a quantum computer exists that is powerful enough to crack current 256 type algorithms. No one can say for sure when that day will be, and estimates vary from late 2027 to the mid 2030s. The general consensus trend, though, seems to be that Q-Day is getting closer, not further away.
The trigger point for this is based on the number of stable QBits that a Quantum computer is able to run. In order to crack an algo like SHA256 today would take millions of years. A quantum computer with 1000+ Qbits stable could theoretically crack that in hours.
SOLUTION
The good news is that solutions are available. New encryption algorithm classes like lattice algorithms are proven to be quantum safe (for now!). To be clear, the best defence is prevention – to secure your network and data in transit and at rest. In the same way that a bank in a movie inserts die bombs into cash bags to render the stolen cash useless, it would prefer not to lose the cash in the first place.
However, if your data is stolen, you want to be confident that that data is useless to the hackers for as far into the future as you can get. That is what we mean by being quantum safe and quantum ready. If you would like to know more about this and discover what Quantum computing can do for you, you can learn more here or get in touch with us quantum@souqbox.net .
Finally, if you have seen images of quantum computers and wondered why they look so strange, it’s because it’s actually a super freezer. That’s not a typo.
Most of what you see on a quantum computer is a big freezer to cool the quantum chip as close to 0 kelvin as possible. That’s -273 degrees – the coldest theoretical temperature possible. That is required to get as close to minimum electron movement as possible so that the very thing that makes a quantum computer work, works. More on that in a future post!
