IBM quantum computers now finish some tasks in hours, not months
engadget.com
engadget.com
Good luck getting cash when your local bank is trying to figure out procedures that haven’t been used in a literal generation.
But banking is already not that secure. Credit cards suffer from massive ongoing fraud. Especially in places like the USA where chip systems are less common.
I think for the attacker with a quantum computer, they will need to steal low amounts for a long time so that people brush other user’s missing funds off as user error
But these investigations often do quickly give users the benefit of the doubt so I would see the network being at high alert really quickly
Fraud liability was shifted from card brands to retailers if they don't support chip. That was a big deal to start supporting it.
[0]: https://security.googleblog.com/2016/07/experimenting-with-p...
https://arxiv.org/abs/1907.11513v1
I have no involvement now and have moved on to a different company. The team has also gone on to do way bigger and better things and has published some additional papers that are way over my skill level and knowledge.
"I think there is a world market for maybe five computers." Thomas Watson, president of IBM, 1943
Watson was not wrong, even though everybody likes to quote this and act like he was dumb.
At the time he was saying that a computer was the size of a 2 story building and probably cost half a billion dollars in today's money (maybe even more?) plus who knows how much in maintenance costs.
And their applicability was extremely limited plus potential customers didn't even realize that they'd need them.
EDIT: After further thought, I realize this is the point OP is making.
1000 qubits in two years seems like a "quantum" leap based on what I read.
Pretty sure it's both.
The hype level now being applied to all things "quantum" makes the hype that was applied to AI a few years ago seem like mere puffery.
Contrast that with AI, which caused formation of new departments and hiring binges throughout industry, including industry far outside tech
We have seen legitimate revolutions in natural language processing, computer vision, and games. Those things, however, are still a long way from being useful.
It is; that's enough to make a single error-corrected qubit. So the leap here is effectively one quantum
"It's 2022 and I cannot believe we are expected to wait hours for this process to finish."
There is a tremendous amount of misinformation floating around on this topic. The short answer is that we are not even close to starting yet. This has a good discussion:
* https://crypto.stackexchange.com/questions/59795/largest-int...
Note the new and exciting estimate of only 20 million physical qubits required to crack RSA 2048. The article mentions the hope of achieving 1000 physical qubits.
1,000 on a chip in 1970. 20M by the late 1990s or so.
It has substantial theoretical implications in cryptography, but any practical applications are decades off.
Cryptocurrency couldn't get any more broken, so it has no implications for that.
So you have a way to steal Bitcoins?
2) Is it more likely that this is funded by the NSA, or instead that the NSA has had something similar for decades and this is a ploughsare-type filtration of techniques into the private sector?
2) No, ploughsare filtration techniques seem to go in reverse like self driving cars.