The United Nations recently hosted a summit at its headquarters to address the risks quantum computing poses to global financial systems. The discussion, led by BeInCrypto during the Government Blockchain Association event, highlighted that government agencies are already taking steps to mitigate potential threats to encryption.
The US National Security Agency has mandated a shift toward post-quantum cryptography. Starting in 2027, new commercial national-security systems are required to support quantum-resistant algorithms, with a full phase-out of incompatible systems scheduled for 2030. Officials warn of the harvest now, decrypt later threat, where encrypted data is stolen today for future decryption.
The UN Joint Staff Pension Fund is currently addressing these challenges within its blockchain-based proof-of-life system, which serves approximately 80 000 beneficiaries in 190 countries. The fund is exploring post-quantum-resistant blockchain solutions and methods to re-encrypt historical records to ensure long-term data security.
Experts emphasize that there is no single Q-Day, unlike the Y2K event, necessitating continuous monitoring of cryptographic threats. Furthermore, the transition may require significant infrastructure upgrades, as quantum-safe cryptographic keys are often larger than current standards, potentially impacting existing firewalls and network hardware.
