Bitcoin Blockchain Resilient to Quantum Threat, Experts Say

The potential impact of quantum technology on the Bitcoin blockchain has been highlighted by a recent Google white paper urging the cryptocurrency community to take action to upgrade its security.

However, experts in the field are cautioning that the threat may be overstated, with Trevor Topfer, executive director of the New Zealand Blockchain Forum, saying that it poses a greater risk to global financial systems than to Bitcoin itself.

Topfer noted that less than 5 percent of the world's population owns Bitcoin, making it a relatively small target for quantum computing. He also pointed out that global financial systems, such as those using SWIFT rails, would be much easier to undermine by quantum technology.