TechFlow, November 4 — According to Caixin, the Hong Kong Monetary Authority (HKMA) announced it will initiate a project to develop a "post-quantum cryptography roadmap" to prepare for the quantum era and proactively mitigate potential threats posed by quantum computers potentially breaking the digital encryption methods currently widely used by financial institutions. The HKMA will work with the industry to prepare for the transition to post-quantum cryptography (PQC). HKMA Deputy Chief Executive Officer David Li stated that developing the "post-quantum cryptography roadmap" is not in response to an immediate risk, but rather akin to launching a joint project between the HKMA and banks, aiming to raise industry awareness and emphasize the importance of preparing for the potential threats of quantum computing well in advance.
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