Report Alert “Prosperity at Risk: The Quantum Computer Threat to the US Financial System”

A new, interesting, report was just published by the Hudson institute – “Prosperity at Risk: The Quantum Computer Threat to the US Financial System,” authored by Alexander W. Butler and Arthur Herman of the Quantum Alliance Initiative at the Hudson Institute. This comprehensive study explores potential threats posed by quantum computing to the U.S. financial system, emphasizing the urgent need for quantum-safe encryption and proactive policy measures.

One of the most interesting statements in the report claim that due to the interconnectedness of the financial digital systems, and based on researchers’ economic analysis, they estimate that a single successful quantum cyberattack on Fedwire could result in significant financial disruptions, causing liquidity crises and contractual breaches. This could lead to a decline in annual real GDP ranging from 10% to 17%, with potential losses between $2 and $3.3 trillion in GDP.

The full report is available here: https://www.hudson.org/technology/prosperity-risk-quantum-computer-threat-us-financial-system/