The World Economic Forum (WEF) warns of the risk that quantum computers could break current encryption techniques, seriously threatening the security of Central Bank-issued Digital Currencies (CBDCs). .
According to WEF's latest report, the development of quantum computers, although bringing many breakthrough potentials, also creates unprecedented cyber security threats, especially the ability to disrupt computer systems. Current data encryption systems, including CBDC systems.
Currently, more than 98% of the world's central banks are researching CBDC to improve cross-border payment efficiency, promote financial inclusion, and maintain the role of central bank currencies in the financial era. main number. However, the emergence of quantum computers, expected to reach 5,000 operating systems by 2030, could break current encryption standards such as RSA and ECC - which are the security foundation of financial systems. global government.
Quantum computers use Qubits (quantum bits), which exist in a multidimensional state, allowing them to solve complex problems at a speed superior to classical supercomputers. In the wrong hands, it can be used to attack important systems, including CBDCs, through information theft, identity spoofing, and future decryption of collected data.
A 2021 study by the Hudson Institute indicates that a hypothetical quantum attack on the US real-time clearing system (RTGS) could cause real GDP to decline by 10-17%, pushing the economy into The recession lasted 6 months and caused trillions of dollars in losses.
To deal with this risk, WEF notes that deploying “cryptographic agility” is extremely important. This capability allows the system to easily and quickly change encryption algorithms to cope with new attack techniques. Specifically, CBDC systems need to integrate lattice-based encryption algorithms, such as ML-KEM/Kyber, ML-DSA/Dilithium, or SLH-DSA/SPHINCS+, in addition to current asymmetric algorithms. like RSA and ECC.
Additionally, implementing mechanisms such as Key encapsulation mechanism (KEM) and Digital signature algorithm (DSA) across the four layers of the CBDC system (network, application, data flow and code) is essential to prevent hacking. information theft, identity fraud and data decryption.
To ensure the security of the CBDC system against quantum attacks, WEF recommends that central banks and financial institutions analyze quantum security risks, identify new threats and take measures. effective countermeasures. In addition, it is necessary to build a list of encryption documents, listing relevant encryption mechanisms in the system to support regular upgrades; impose cyber security measures, requiring organizations authorized to access the CBDC system to comply with strict security standards.
Additionally, there is a need to protect data, encrypt data flows across networks and applications, and embed the use of secure libraries throughout the software development lifecycle; backup data redundancy, store data across multiple data centers or network nodes (if DLT-based), and ensure the key management system is quantum-safe.
Currently, international efforts are underway to find solutions to protect the next generation of national payment systems, including CBDCs. WEF established the Quantum Economy Network, which recently provided guidance to the Finance industry on shaping global regulatory approaches.
The Bank for International Settlements (BIS) also announced the results of phase one of Project Leap, promoting research into quantum-safe cryptography for financial systems. Extensive collaboration between the public and private sectors in establishing cyber resilience that is not limited to just one organization is key to successfully containing the threat of quantum computing.
