G7 Warns of Quantum Threat: Migrate to Post-Quantum Cryptography Now
The G7 has warned that organizations should start migrating to post-quantum cryptography now to protect against potential cyber threats from quantum computers. The cybersecurity working group of the Group of Seven, which includes Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, issued a report highlighting the risks posed by the development of powerful quantum computers.
According to the G7, attackers can collect encrypted data today and decrypt it if sufficiently powerful quantum computers emerge. The group urged governments and businesses to prepare for quantum-enabled cyberattacks now, warning that migration could take years and that sensitive data is already at risk.
The report specifically calls on organizations to adopt post-quantum cryptography (PQC) to protect against classical and quantum attacks. Without PQC, data stolen and stored today could later be decrypted by a powerful quantum computer, which could also break digital signatures, enable impersonation, and expose companies and their supply chains.
While the report does not mention cryptocurrency directly, it notes that public-key cryptography protects blockchain wallets and authorizes transactions. Developers of Bitcoin, Ethereum, and Solana are already testing defenses against the threat, with some proposing post-quantum signature schemes to prepare for potential attacks.