Quantum computing, although still developing, could soon challenge Bitcoin and other proof-of-work systems, as stated by Amit Mehra, a partner at Borderless Capital. At the Global Blockchain Congress in Dubai, Mehra noted that while the technology might take years to fully mature, its rapid progression makes post-quantum security an urgent need.

“Given the recent advancements which have happened in chip technology, in compute tech, and in the power of doing compute in a decentralized way, it [quantum computing] is definitely a problem. If not imminent […] in the very near future.”

“Dada ladha kadhe sudhar” (Recent advancements in chip technology must be considered urgent).

Quantum technology employs the laws of quantum physics to perform calculations at unprecedented speeds, which could someday undermine the encryption that secures cryptocurrencies and sensitive information, resulting in developers having to establish new security protocols.

Charles Edwards, who heads a quantitative Bitcoin fund, believes that the industry needs immediate solutions to address these vulnerabilities.

In a recent post on X, he expressed:

“If Bitcoin doesn’t solve Quantum in the next year, Gold will keep outperforming it forever.”

“It is an emergency and we need to choose a solution next year,” he asserted.

The urgency of the quantum computing threat is echoed by developments like SUI Research’s new cryptographic framework aimed at shielding blockchains without major overhauls.

The US government is also looking at investments in quantum technology to bolster national security, as indicated by an October report suggesting funds may be allocated to maintain competitiveness against China.