World Economic Forum Warns Of Quantum Computing Threat To Central Bank Digital Currencies

According to Odaily, the World Economic Forum (WEF) has recently issued a serious warning about the potential vulnerability of Central Bank Digital Currencies (CBDCs) to decryption attacks by quantum computing systems. Quantum computers are largely still in the experimental stage. Various proofs of concept exist, and a few labs claim to have solved quantum system customization problems that traditional binary computers cannot solve in a reasonable time. However, it will still take a considerable amount of time before they are fully realized. In a blog post dated May 21, the WEF highlighted this danger, stating that 'central banks must embed cryptographic flexibility into CBDC systems to resist quantum network attacks against payment infrastructure.' The WEF's warning underscores the need for central banks to consider potential future threats when designing their digital currencies. As quantum computing continues to develop, it could pose a significant risk to the security of CBDCs if these potential vulnerabilities are not addressed.