TechFlow, Nov. 19 — According to Fortune, Théau Peronnin, CEO of Alice & Bob, Nvidia's quantum computing partner, said on Tuesday that quantum computers could become powerful enough to break Bitcoin's security mechanisms shortly after 2030.
Peronnin told Fortune at the Web Summit in Lisbon that quantum computers could threaten cryptocurrency security by instantly solving mining mechanisms or brute-forcing wallet passwords. Quantum technology is currently not advanced enough to pose a threat to cryptocurrencies, but it is steadily progressing.
Peronnin advised: "Bitcoin needs to fork and upgrade to a stronger blockchain before 2030. Quantum computers will be ready to pose a threat shortly after that." He added that quantum computing threatens not only Bitcoin but also all banking encryption systems relying on cryptographic technologies.
