Quantum computing has been overshadowed in recent years by artificial intelligence. The latter is often described as an “existential threat to humanity,” while the former’s threat is perpetually said to be at least a decade away. And while the existential threat that AI poses may be hyperbolic, no one doubts that the advent of quantum computing—whenever that day comes—will fundamentally change the security game by rendering today’s cryptographic algorithms irrelevant to any nation or threat group with access to its processing power.
Quantum Harvesting Happening Now
Coviant Software CEO Greg Hoffer to Discuss Quantum Computing at Data Connectors Houston
In fact, there are already (primarily state sponsored) organizations engaged in a practice known as “quantum harvesting” in anticipation of the day that they are able to use quantum computing to gain access to the secrets hidden behind traditional encryption. Often, the information these groups target are state secrets like military plans, weapon system designs, and intelligence assets. But make no mistake—data related to private industry and citizens is also at risk.
While it is difficult to quantify the kinds of data being harvested (unlike a ransomware attack or breach after which data is sold on the dark web, there is nothing to be gained by disclosing the details), we can see why certain industries would be in the crosshairs for quantum harvesting.
According to a recent article in FinTech Magazine, ecommerce is expected to reach a total annual value of $41.7 trillion by 2027. Each transaction aggregating to that number is protected by public key cryptography and would be easily compromised with quantum computing. That means the world’s financial systems are at risk each moment between the advent of quantum computing and the transition to post quantum cryptography—a process the article says could take 10-15 years to complete. That is a sobering thought.
NIST is on the Job
Fortunately the National Institute for Standards and Technology (NIST) has been working on the development and testing of post-quantum encryption standards and in August announced the finalization of three different algorithms “designed to withstand cyberattacks from a quantum computer.”
NIST says these standards can be adopted today as a hedge against the advent of a quantum threat. Meanwhile, it continues to work on developing new approaches to address the problem.
Coviant Software is on the Job
We have a keen interest in this topic because encryption is a key element in securing data shared through file transfers. Our Diplomat MFT solution automates the complicated process of PGP encryption management to ensure data is secure during every step of a managed file transfer (MFT) transaction. The recent release of Diplomat MFT 9.3 included support for improved elliptic curve cryptography to ensure “quantum resistance” today, and we will keep pace with the new standards as well to ensure our customers have a hedge against quantum harvesting.
In 2022 the Cybersecurity & Infrastructure Security Agency (CISA) published Preparing Critical Infrastructure for Post-Quantum Cryptography to help with planning for the post-quantum era. And while the paper was produced for critical infrastructure agencies and operators, its call that “government and critical infrastructure entities—including both public and private organizations—must work together to prepare for a new post-quantum cryptographic standard to defend against future threats” is applicable for everyone responsible for protecting their organizations, employees, partners, and customers.
Come See Us in Houston
If you are in the Houston, Texas area and want to learn more about post-quantum cryptography, I will be speaking on the topic on November 7 at the Data Connectors Houston Cybersecurity Conference taking place at the JW Marriott Houston by the Galleria, 5150 Westheimer Road Houston, TX. I would be honored to have you attend or to meet up during the event for a conversation about quantum computing, encryption management, or secure managed file transfer. Feel free to reach out for more information.