CNBC Interviews ECE’s Taqi Raza on the Impact of Quantum Computing on Cryptography
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Google has developed an experimental quantum-computer chip called “Willow” with awe-inspiring power and accuracy; for example, this chip takes five minutes to perform a task accurately that would take the world’s largest supercomputer about 1025 years. However, when Willow and other quantum-computer innovations are ready for the real world in a decade or so, how safe will cryptocurrencies (or cryptos) be from “cryptanalytic” attack using these powerful devices? In response to this complex issue, CNBC recently posted an informative article that included insightful advice from Assistant Professor Taqi Raza of the UMass Amherst Electrical and Computer Engineering (ECE) Department.
Google’s Willow chip is especially relevant here at UMass Amherst, since ECE Professor Joseph Bardin was on the crack Google team that developed the trailblazing chip. Another team member was Sayan Das, a 2024 UMass Amherst Ph.D. alumnus, who then began working for Google as a silicon engineer.
For those of us who are uninformed about cryptography, the tastycrypto.com website describes it as any form of digital currency that is secured by cryptography and based on blockchain technology, made up of secure, shared blocks of transaction data that make crypto difficult to counterfeit.
The thorny problem for cryptocurrencies, when such quantum-computer innovations as Willow hit the market in years to come, is that cryptos will need to be made “quantum-proof” from hackers that can utilize such powerful technology for unencrypting cryptography.
In that context, Raza told CNBC that existing cryptos will need to evolve “to ward off the qubit,” which is the basic unit of quantum computing and the equivalent of the traditional bit used by classical computers to encode information in binary.
According to Raza, “As the potential for quantum computers to break existing cryptography becomes more of a concern, new cryptocurrencies specifically designed to be quantum-safe could be developed. These new quantum cryptos would integrate ‘post-quantum cryptography,’ [meaning] cryptographic algorithms that are resistant to the computational power of quantum computers.”
Raza also told CNBC that ultimately the most sweeping changes created by quantum computing will occur beyond the realm of crypto. For example, he foresees that quantum-computer breakthroughs will make devices and software faster, will revolutionize artificial intelligence, and will improve data safety with ultra-secure encryption methods. Raza also predicted that, in everyday life, quantum computing will produce monumental advances in computing, healthcare, energy, and security.
As a result, Raza told CNBC, we should not be worrying about the crypto industry in isolation without taking into account the life-enhancing changes being developed by quantum computing. He concluded that quantum computing “will likely transform industries.”
Raza heads the UMASS Khwarizmi Lab, which is named after Islamic mathematician, astronomer, astrologer, geographer, and scholar Abu Abdullah Muhammad ibn Musa al-Khwarizmi. Raza explained that his lab is “dedicated to undertake fundamental research topics that solve the challenging problems lying at the intersection of systems and algorithms. In particular, we develop secure and effective solutions in FinTech, quantum networks, and critical infrastructures – such as 5G mobile networks and industrial control systems.” (February 2025)