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re: Dave Ramsey: Will the stock market crash under Joe Biden?
Posted on 4/13/21 at 6:28 pm to Shepherd88
Posted on 4/13/21 at 6:28 pm to Shepherd88
quote:
Reddit thread but it goes into some details
If there’s a computer than can reverse the blockchain, wouldn’t the central banking system also be a risk, if not at more risk?
2
Posted on 4/13/21 at 6:40 pm to finchmeister08
Why did I get downvoted for that question? 
ETA: if someone can hack the blockchain, why wouldn’t they also get into Goldman Sachs, JP Morgan, etc.
ETA: if someone can hack the blockchain, why wouldn’t they also get into Goldman Sachs, JP Morgan, etc.
This post was edited on 4/13/21 at 6:45 pm
Posted on 4/13/21 at 8:40 pm to finchmeister08
quote:
If there’s a computer than can reverse the blockchain, wouldn’t the central banking system also be a risk, if not at more risk?
Yes, the whole world would be pretty fricked if a hacker with a quantum computer could break existing encryption.
NIST is currently working on standardizing new encryption protocols that would be "hardened" against QC.
NIST project
Their current goal is to have a standardized encryption model by 2024. Most things I can find online suggest that it's highly unlikely that QC can break existing encryption before 2030, and some saying a 50/50 shot by 2035.
If that's the case, then we'd have ~6 years of an adoption period in which our entire internet would be adopting new encryption protocols, including crypto projects. There are other independent projects working on wrapping the new protocols in existing services, like TLS, to help with the transition.
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