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In computer science and technology, the term “quantum computing” has emerged as a buzzword, capturing the imagination of scientists, engineers, and enthusiasts alike. But what exactly is a quantum computer, and how does it differ from classical computers?

Explore Classical Computers with expert insights, use cases, and solutions. Learn how Classical Computers can enhance your cybersecurity and protect sensitive data.

As the digital landscape evolves, the threat of quantum computing to conventional encryption methods becomes increasingly real. Quantum computers, with their ability to solve complex problems exponentially faster than classical computers, pose a significant risk to the encryption algorithms that currently safeguard our data.

Companies and governments around the world are in a race to build the first usable quantum computer. The technology promises to make some kinds of computing problems much, much easier to solve than with today’s classical computers, but it also poses a significant threat to the integrity of encrypted data.

Standard cryptography protects almost everything in our lives, including our personal email and banking, businesses, government entities, the health industry, and public infrastructures. As our world has become increasingly digitised, our exposure to something that can break said cryptography can pronounce disaster if it falls into the wrong hands.

On December 21, 2022, President Biden signed the Quantum Computing Cybersecurity Preparedness Act, which encourages federal government agencies to adopt technology that protects against quantum computing attacks.

A quantum computer can process data at an enormous speed. A transaction that takes classical computers weeks to compute can be processed by a quantum computer in seconds. The ability of quantum computers to factor many possibilities simultaneously has severe implications for data privacy. Data attacks with advanced quantum technologies could crack even the most advanced encryption schemes.

Superposition is one of the most iconic concepts in quantum physics. The principle says that the particles such as electrons can exist in multiple positions simultaneously. For example, imagine a coin tossed in the air—it is not in a definite state of heads or tails while in the air until it is observed. Similarly, sub-atomic particles in quantum superposition exist in all possible states until they are measured.

The process of encrypting data is called cryptography. It converts plain text into scrambled text so that someone with the right “key” can read it. Quantum cryptography, by extension, uses the principles of quantum mechanics to encrypt data and transmit it securely.

At the core of quantum mechanics is the idea that particles, such as electrons and photons, can exist in multiple states simultaneously. Unlike classical physics, where an object can only exist in one state at a time, quantum superposition allows particles to exist in a combination of states.

We live in an information age where digital communication has become a lifeline for our businesses. Optical fibres are the backbone of our modern information networks. Long-range communication over the internet and high-speed information transfer within data centres take place over optical fibres.

For entities under SEBI regulation, this looming shift means facing the urgent task of future-proofing data security. The current encryption techniques that form the backbone of financial security systems may become vulnerable to quantum attacks, potentially exposing critical information.

Data is the engine of the new economy. The data economy depends on the creation of data and data sharing. This makes data an invaluable asset for nations, enterprises and individuals. The data exchange fuels data harvesting. Companies and individuals are known to harvest data - extract useful information from data sources for their personal benefit.

Quantum computing uses fundamental principles of quantum mechanics to perform complex processing. Quantum cryptography leverages the same principles for advanced data encryption. However, quantum computing and quantum cryptography are not allies. Instead, they stand tall against each other at the crossroads!

Cybercriminals are especially eyeing pharmaceutical companies in view of the COVID-19 pandemic. Indian pharma firms were possibly attacked since they are providing affordable medicines on a large scale and are important in drug discovery and supply chain.

Quantum cryptography is no longer a buzzword. The field of cryptography is undergoing a massive overhaul in the quantum era. The anticipation of the launch of a fault-tolerant quantum computer has made cryptographers wake up and take notice.

Quantum computers use the laws of quantum mechanics to process information in quantum bits or qubits. Qubits can exist in multiple states at the same time (called quantum superposition). This property allows quantum computers to process data and solve problems exponentially faster than classical computers.

To comprehend the concept of a qubit, one must first grasp the essence of quantum computing. Unlike classical computers, which operate based on binary bits—units of information—quantum computers harness the peculiar phenomena of superposition and entanglement to process data in a fundamentally different manner.

Quantum tunnelling is one of the most intriguing phenomena in quantum physics. Tunnelling may appear to have little relevance to everyday life but it is a fundamental process of nature that is responsible for many things on which life itself is dependent.

Scientific community has been working on extracting the benefits of quantum physics for computation over 15-20 years. Three key reasons have been stalling meaningful realization

In cybersecurity, where data protection is paramount, traditional cryptographic methods have long been the stalwart guardians of sensitive information. However, as computing power advances, so too do the tools available to potential attackers. In the ever-evolving landscape, the emergence of quantum cryptography offers a promising solution to the challenges of secure communication in the digital age.

As India’s financial ecosystem continues to digitize, the importance of robust cybersecurity cannot be overstated. SEBI’s Cybersecurity and Cyber Resilience Framework (CSCRF) was introduced to address the evolving threat landscape, ensuring that regulated entities remain secure and resilient. However, the emergence of quantum computing is reshaping the cybersecurity narrative.

The Indian Cabinet recently approved the National Quantum Mission. The mission is essential for building excellence in national quantum security and developing quantum computers, quantum communication, new materials, quantum sensors, and quantum cryptography.

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The digitalisation of the economy has impacted the financial services industry more than others. Digital financial transactions have replaced physical currencies. Banknotes were exchanged on trust. They were issued by trustworthy institutes in the country and used between parties without fear of doubt.