Blockchain / Crypto Currency
BCS (Bedford)
| Date | Tuesday 31 Oct 2017 | ||||||||
| Time | 18:30 for 19:00 | ||||||||
| Location | Tavistock Suite The Park Inn Hotel, 2 St Mary's Street, Bedford MK42 0AR. (Free Parking at the rear - Inform Hotel Reception) | ||||||||
| Speaker | Anish Mohammed | ||||||||
| Abstract | Material from a recent presentation by Anish Mohammed on 14th Sept 2017:
Effects of Quantum Computing on Cryptocurrency and Blockchain | ||||||||
| Agenda |
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Currently, quantum computing is not yet at the stage that would allow for a
real impact on cryptocurrencies or blockchains. It is possible that this could
change within the next 3-5 years, as quantum computing breakthroughs create
machines with greater processing capabilities. There are some quantum-proof
algorithms, but they are not widely in use, as they are inefficient and are
hard to send over long distances. Current security algorithms are based on
problems that will be easily solved by quantum computers. As a result, security
for a number of industries, including phones, bank accounts, browsers, crypto
tokens, and more will have to change.