The Australian government has signed a $620 million contract with PsiQuantum to build a powerful quantum computer that could break modern encryption schemes by 2027. This large-scale, fault-tolerant device aims to deliver on the promise of quantum computing to solve complex problems. PsiQuantum’s approach uses optical components, which could accelerate practical applications of quantum computing.
The U.S. government has been funding quantum computing efforts to prepare for potential advancements, with concerns over China’s lead in key technology areas. The technological advancements made by PsiQuantum could have significant implications for national security and global competition. There are ongoing efforts to transition to quantum-resistant cryptography by 2035 to protect government systems from potential threats posed by quantum computers.
Intelligence agencies have warned of the security risks posed by quantum computing, as they have the potential to decrypt all digital communications simultaneously. The current state of U.S. defense readiness against quantum computing attacks is still evolving, with a focus on developing quantum-resistant algorithms and systems. The announcement by PsiQuantum underscores the urgency for the U.S. to ramp up efforts to defend against potential threats posed by quantum technology.
