The Accredited Standards Committee X9 Inc., a nonprofit financial industry standards organization based in Annapolis, is making a group to study the risk posed to the financial services industry by high-powered computers now in development.
Quantum computers use quantum mechanics to solve mathematical problems in ways that conventional computers can’t. The development of a large-scale quantum computer could place many encryption systems at risk, according to the committee.
The group will assess how cryptography now in use by the industry would be affected by the development of quantum computers, as well as review existing efforts to identify algorithms deemed at-risk or quantum-safe.
Experts in quantum computing and cryptography can learn more information about participating by contacting the committee at https://x9.org/contact-x9/ .