It might be too late for bitcoin’s quantum migration, Project Eleven report argues

Quantum computing does not only pose a risk to up to $3 trillion in digital assets, it also threatens the security of banking systems, military communications, digital identities and more, Project Eleven’s report warns. What to know : A new 110-page report from Project Eleven warns that more than $3 trillion in digital assets secured by elliptic curve cryptography could become vulnerable to quantum attacks within four to seven years. The report says a “Q-Day” — when quantum computers can break widely used public-key cryptography — could arrive as early as 2030 and no later than 2033, threatening blockchains, banking, cloud systems and military communications. Migrating global financial and digital infrastructure, including Bitcoin, to post-quantum cryptography could take a decade and is hampered less by technical limits than by the need for costly, highly coordinated action across users, institutions and networks.(Coindesk)