Alex Pruden: Quantum computing threatens elliptic curve cryptography, urgent need for postmodern cryptography, and the Bitcoin community’s philosophical divide | Empire Quantum computing's rapid advancements pose an urgent threat to the security of digital assets and financial systems. Key takeaways - Quantum computing is emerging as a significant threat to elliptic curve cryptography, which underpins many cryptographic systems. - There is an urgent need to transition to postmodern cryptography to safeguard digital assets from quantum threats. - Recent advancements suggest that fewer qubits are needed to break public key cryptography than previously thought. - The current cryptographic systems are vulnerable to both quantum computing and AI advancements. - Quantum computers could fundamentally disrupt financial systems and government security by breaking modern public key cryptography. - The internet’s reliance on trust makes financial systems particularly vulnerable to cryptographic threats. - Blockchain technology’s heavy reliance on cryptography presents challenges in adapting to safer cryptographic methods. - Hybrid cryptography is already being used to secure a significant portion of internet traffic, indicating a shift towards more secure systems. - The Bitcoin community is divided on the timeline and risk of quantum computing threats. - Bitcoin’s long-standing value and philosophical foundations make discussions about quantum threats particularly challenging. - The shift to postmodern cryptography is critical for the long-term security and viability of digital assets. - Quantum computing advancements could necessitate a reevaluation of current cryptographic practices across industries. - The integration of internet infrastructure with financial systems highlights the need for robust cryptographic security. - The ongoing efforts to enhance security through hybrid cryptography are crucial for the future of blockchain and digital assets. - Philosophical beliefs within the Bitcoin community influence the conversation around technological risks and threats. Guest intro Alex Pruden is the CEO of Project Eleven, an applied R&D lab