Your Blockchain Might be Dead - and Alive - on Arrival



The following is an excerpt from a contributed opinion piece on ITSP Magazine by Scott Totzke, CEO & Co-Founder of ISARA Corporation.

The financial world is abuzz with talk of blockchain, and for good reason. Blockchain is the technology upon which the Bitcoin digital currency is built. It has the potential to disrupt the finance industry by empowering a group of individuals or companies to maintain a shared ledger with no need for central administration. Transformative uses of blockchain might include:

  • fast, peer-to-peer payment, clearing, and settlement
  • provenance tracking for supply chain management and real-time regulatory compliance
  • inter-organizational record-keeping for title transfer and notary services

Government and business leaders in every corner of finance are experimenting with blockchain solutions. But these projects risk becoming dead-on-arrival if their designers fail to prepare for the looming threat of quantum computers.

Here’s why: Blockchains are vulnerable to the security threat of quantum computers.

Read the complete article on ITSP Magazine.