Everyone's wrong about quantum computing
Deep Dives
Explore related topics with these Wikipedia articles, rewritten for enjoyable reading:
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Post-quantum cryptography
12 min read
The article discusses quantum computing threats to blockchain cryptography and the debate over transitioning to post-quantum cryptographic systems. This Wikipedia article provides deep technical context on the specific cryptographic algorithms being developed to resist quantum attacks.
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Shor's algorithm
10 min read
Central to understanding why quantum computers threaten current cryptography - this is the specific quantum algorithm that could break RSA and elliptic curve cryptography used in Bitcoin and blockchains. The article's discussion of 'cryptographically relevant quantum computers' directly relates to when Shor's algorithm becomes practical.
INNOVATION BETS
TradFi’s tipping point: Fidelity CEO Abigail Johnson on stablecoins, Bitcoin, and more
Fidelity Chairman and CEO Abigail Johnson takes us inside the institution’s decade-long journey in crypto — from early Bitcoin mining to building custody infrastructure that other institutions now rely on, to thoughts on stablecoins then vs. now and on how the company decides what to build vs. buy.
Johnson reveals (in conversation with a16z crypto COO Anthony Albanese) how Fidelity sifted through dozens of use cases, why only one truly mattered at first, and how that early insight set the course for everything that followed.
Whether you’re a traditional finance institution exploring crypto, a startup seeking to partner with TradFi, or just someone who wants to understand how innovation happens inside large, established institutions — this episode is your guide to what we’ve been calling “The Year of Institutional Adoption” and beyond.
00:47 – “Is this real?”: Early experiments
02:30 – A use case that changed everything
04:18 – Surprises in early bitcoin mining
05:44 – First consumer business
08:50 — Embedding throughout Fidelity
10:00 – Responding to the regulatory freeze
13:19 – Stablecoin then and now
16:59 – Build vs. buy
20:20 – How to operationalize the new
24:12 – Replace vs. rebuild financial system?
28:26 – Thoughts on bitcoin
30:17 – Handling skepticism, “religious wars”
32:30 – Innovation vs. inertia, taking risks
34:07 – The future of crypto x TradFi
THE ARGUMENT
Quantum computing and blockchains: Let’s match the urgency to the actual threats
Justin Thaler
Timelines to a cryptographically relevant quantum computer are frequently overstated in press releases, media, and elsewhere — leading to calls for urgent, wholesale transitions to post-quantum cryptography.
But these calls often ignore the costs and risks of premature migration, and also overlook more salient security issues (like bugs).
So in this piece, Thaler clarifies common misconceptions about quantum threats to cryptography — covering encryption, signatures, and zero-knowledge proofs — with a special focus on implications for blockchains. He begins by addressing the question of: Where are we, really, on timing — especially given several high-profile claims out there?
read the post (plus 7 recommendations for builders, policymakers, others)
NEWS AND MOVES
This week, prediction market Kalshi announced data partnerships with two different media outlets: CNN and CNBC — with the goal of helping share “unfiltered, accurate, and market-driven” data on content such as news, politics, ...
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