The US Treasury opens a quantum-readiness task force for the financial sector
The public-private task force is meant to move banks, market infrastructures and technology suppliers to post-quantum cryptography in a coordinated way. It runs three workstreams: sector alignment and the post-quantum transition, third-party and vendor readiness, and digital asset and emerging technology risk. Assistant Secretary for Financial Institutions Luke Pettit said quantum computing holds significant promise but also poses a serious long-term challenge to the cryptographic tools that underpin the US financial system.
Economics & Markets··Night
Reported development
The US Treasury opens a quantum-readiness task force for the financial sector The public-private task force is meant to move banks, market infrastructures and technology suppliers to post-quantum cryptography in a coordinated way. It runs three workstreams: sector alignment and the post-quantum transition, third-party and vendor readiness, and digital asset and emerging technology risk. Assistant Secretary for Financial Institutions Luke Pettit said quantum computing holds significant promise but also poses a serious long-term challenge to the cryptographic tools that underpin the US financial system. Assistant Secretary for Financial Institutions Luke Pettit said quantum computing holds significant promise but also poses a serious long-term challenge to the cryptographic tools that underpin the US financial system.[1]
Details in the report
The public-private task force is meant to move banks, market infrastructures and technology suppliers to post-quantum cryptography in a coordinated way. It runs three workstreams: sector alignment and the post-quantum transition, third-party and vendor readiness, and digital asset and emerging technology risk. Assistant Secretary for Financial Institutions Luke Pettit said quantum computing holds significant promise but also poses a serious long-term challenge to the cryptographic tools that underpin the US financial system. From the industry side it draws in Deborah Guild, who chairs the Financial Services Sector Coordinating Council and heads technology at PNC Financial Services Group. No implementation timetable was given.[1]
Additional context
The US Treasury opens a quantum-readiness task force for the financial sector The public-private task force is meant to move banks, market infrastructures and technology suppliers to post-quantum cryptography in a coordinated way. It runs three workstreams: sector alignment and the post-quantum transition, third-party and vendor readiness, and digital asset and emerging technology risk. Assistant Secretary for Financial Institutions Luke Pettit said quantum computing holds significant promise but also poses a serious long-term challenge to the cryptographic tools that underpin the US financial system. From the industry side it draws in Deborah Guild, who chairs the Financial Services Sector Coordinating Council and heads technology at PNC Financial Services Group. No implementation timetable was given.[1]
