Encryption upgrade in 2024 will keep data safe from quantum computers

The US National Institute of Standards and Technology (NIST) has been working on standardizing post-quantum cryptography (PQC) algorithms since 2012.

Out of 82 submitted algorithms, NIST has shortlisted four, with a final decision expected in 2024 after a public consultation period.

Albrecht anticipates nation-state adversaries having quantum computers before criminal gangs, making the practical implementation of quantum computers for encryption cracking a distant possibility.