[Cryptography] quantum computers & crypto

Ron Garret ron at flownet.com
Fri Oct 29 15:00:13 EDT 2021

On Oct 29, 2021, at 9:16 AM, Joshua Marpet <joshua.marpet at guardedrisk.com> wrote:

> End of civilization as we know it? 
> I disagree. A correction? A reset? Yes. Issues. Yes. But teotwawki? No
> Rollback to known good, implement PQC algorithms, keep on trucking. Seriously.

What “known good” would you roll back to in the face of QC?  Manual processing of paper checks?  Going to the teller window whenever you need cash?  We haven’t done that in 50 years.  Do you really think we could spool those processes back up in a timely manner and scale them to the present world economy?

And how long do you think it would take to implement and deploy PQC if the industry was not already prepared for it?  How long do you think it would take to roll back the millions upon millions of fraudulent transactions that likely would have been executed before someone pulled the breaker?  Remember, the scenario we are talking about here is a potential global compromise of all banking credentials.  The attack would take the form of transactions that are indistinguishable from legitimate ones except by humans and the only way to stop it would be to shut down the entire system.  That decision would have to be made by humans.

> Again, issues? Massive in places? Yes. Emphatically yes. 
> Worldwide fecal/blade impact events? Dont believe so.

Just look at what is happening to the supply chain right now as a result of the pandemic.  If QC takes us by surprise it will be vastly worse.  The entire world economy be brought to an instant screeching halt.  ATMs and credit cards will stop working.  Grocery store and gas station lines will come to an instant halt.  Bank accounts will be drained by the millions.

If you don’t think that has the potential to end civilization then I don’t think you have grasped the magnitude of the threat.

(Of course, the most likely scenario is not doomsday but global extortion, but that assumes that the QC is in the hands of a rational actor.  And I personally don’t take a lot of comfort from that.)

> I understand why you say, that that event will cause issues.  However. I disagree repspectfully
> As well, no their paranoia is not justified. In a few years? Say 3-5? Sure. Reevaluate. But right now, there are far more pressing issues and crises.

3-5 years is not very long when it comes to infrastructure on the scale of the world’s banking system.  Swipe authorization is still in use today, over 25 years after chip cards were first deployed.  Paper checks are still in use 2000 years after they were first invented.  The financial industry moves very, very slowly, mostly with good reason.


-------------- next part --------------
An HTML attachment was scrubbed...
URL: <https://www.metzdowd.com/pipermail/cryptography/attachments/20211029/dead732e/attachment.htm>

More information about the cryptography mailing list