Quantum Computing's Looming Impact on Security: SEBI's Preparedness
Sebi Chairman Tuhin Kanta Pandey highlighted security challenges posed by quantum computing, urging preparations for its adoption. An action plan is set to ensure stakeholder readiness. Pandey addressed technological neutrality and the inevitability of transitioning from paper-based shareholding in the era of dematerialization.
- Country:
- India
The advent of quantum computing is set to revolutionize the technological landscape, posing significant security challenges. Chairing the discussion, Tuhin Kanta Pandey, Chairman of the Securities and Exchange Board of India (Sebi), emphasized the urgent need for preemptive measures to ensure system safety against potential vulnerabilities.
Pandey outlined Sebi's action plan for achieving 'quantum readiness,' aiming for a transition to quantum-safe cryptography by 2029. This strategic initiative highlights the critical role of quantum mechanics in addressing complex computational problems, ultimately rendering current password encryption capabilities obsolete, he explained during the annual Global Financial Conference.
Furthermore, Pandey addressed concerns surrounding technological neutrality, advocating for modern digital solutions over traditional paper-based systems. He underscored the importance of standardization in embracing cutting-edge technologies that are pivotal to the progress of both regulators and the investor community.
(With inputs from agencies.)
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