Photo: RNZ
Explainer: Y2Q is quickly emerging as the world's next Y2K moment with potential to decrypt virtually every commonly used encrypted device from door locks to data.
Y2K was recognised as an emerging problem in the mid-1990s, when it became necessary to upgrade legacy computer systems to allow for the four-digit turn of the millennium, thus preventing the year 2000 from being misread as 1900.
This time around, Q stands for quantum computing, representing a mega upgrade on classical computers, using quantum mechanics to deliver huge advances in problem-solving abilities.
The threat to common encryption systems was highlighted late last year when Google's quantum computer Willow completed a calculation in five minutes that would take the world's most powerful super computer 10 septillion years to calculate. For context one septillion is followed by 24 zeros or a trillion trillion.
Commonly used encryption systems introduced nearly 50 years ago in 1977 are increasingly vulnerable.
The RSA algorithm (named for its inventors Rivest-Shamir-Adleman) used a public/private key system to encrypt messages between devices. One key encrypts the message and the opposite key is used to decrypt it.
This type of encryption is still widely used to secure communication and protect data held on personal computers, e-commerce sites and the blockchain, as well as data held by government organisations, banks and other institutions.
Government organisations, tech users and the financial sector are already aware of the risk, which has not been seen as imminent, but with the potential to quickly escalate any time between now and 2031.
The National Cyber Security Centre (NCSC), which is the government's lead operational cyber security agency, said it was fully aware of opportunities and the risks posed in a post-quantum world.
"In terms of cyber security, quantum computing could lead to criminals and other actors having the ability to compromise cryptographic systems currently used to keep information secure," a NCSC spokesperson said, adding the agency is monitoring developments and sharing information with international partners.
The tech sector is working to develop a more advanced cryptology system fit for the Quantum Age, though post-quantum cryptography (PQC) standards are still in development.
In the meantime, Inland Revenue issued a checklist for taxpayers and organisations to consider.
It said the following steps were critical at this stage.
- 1. Awareness and education
- 2. Maintain an inventory of sensitive and critical datasets, and of systems using cryptographic technologies
- 3. Strengthening current cryptography
- 4. Monitoring standards development
- 5. Transition planning
- 6. Consulting experts
Tech users were also being advised to consider using random computer-generated passwords and two-factor authentication to protect their data and other digital assets, such as photos, bank accounts etc.
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