Blockstream CEO Adam Back pushed back on the concern that quantum computing brings an imminent threat to Bitcoin cryptographic security, saying that the current progress in the field is still far from the level needed to break the real world encryption.
Speaking in interview and Bloomberg, Back noted that much of today’s research is still in its experimental phase. He pointed out the limited capabilities available for quantum hardware, which often lacks error correction and only exhibits small computations. “The biggest number he did was to calculate 21 to 7 times three,” he said, emphasizing that today’s machines are still closer to laboratory prototypes than real computer systems.
Although recent academic work has demonstrated algorithmic improvements, Back argued that these advances have not yet translated into significant hardware capabilities.
As a result, he said, the prospect of supercomputers capable of challenging Bitcoin’s elliptic curve cryptography remains “a few decades away,” though he acknowledged the uncertainty of the real-time.
Earlier today, Adam Back was name and the New York Times as the most reliable candidate for Satoshi Nakamoto based on stylometric analysis of the original cypherpunk writings, but Back and other experts strongly rejected the claims, noting that there is no hard evidence linking him to the creation of Bitcoin.
Bitcoin must prepare for the dangers of quantum computing
Despite the long wait, Back emphasized that the Bitcoin ecosystem should start preparing now. He advocated a gradual migration process quantum-resistant signature, giving users and administrators enough time to change keys and infrastructure without disruption.
He said that Blockstream’s research team has been working hard on the next steps and has already supported the implementation of Liquid, Bitcoin’s two-layer network that has previously served as a testing ground for new products.
The return shows the latest progress in testing, and points to the National Institute of Standards and Technology’s acceptance of post-quantum cryptography standards by the end of 2024 as an important step that will facilitate industry adoption.
Beyond quantum computing, Back dismissed concerns that artificial intelligence or artificial intelligence poses a threat to Bitcoin, presenting AI instead as a creative tool that can help researchers and engineers rather than disrupt cryptographic systems.
Moving on to the global role of Bitcoin, Back described the economy that is widely understood as “digital gold,” coexisting with the world’s financial system rather than replacing it. He cited Bitcoin’s independent interest, including the controversy surrounding national reserves and the currency system in countries such as El Salvador, as evidence of slow adoption. He also described discussions in Switzerland about currency reform and the history of gold-backed standards.
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