The risks of quantum computing for Bitcoin (BTC) and cryptocurrencies have become one of the most discussed topics of late, with a flurry of statements from prominent figures in the field.
Finally, Coinbase CEO Brian Armstrong had an important statement on this matter.
Brian Armstrong, CEO of Coinbase, the largest US cryptocurrency exchange, called for a joint effort to address Bitcoin’s quantum risks.
Armstrong said making Bitcoin resilient to quantum transactions is an urgent challenge that everyone needs to solve together.
Armstrong said he would personally look into the issue of quantum resistance, adding that he believed it needed to be resolved as soon as possible.
These statements follow earlier statements from Coinbase Chief Strategy Officer (CSO) Philip Martin, who suggested that the time has come to start addressing the issue of quantum computing.
Martin said quantum transaction-resistant crypto already exists, but Bitcoin implementation in this area needs to be accelerated.
Specifically, Martin said this issue needs to be addressed before there are quantum computers that can break Bitcoin’s encryption, and emphasized the need for industry-wide consensus.
Martin said quantum risks cannot be solved by any single developer or company alone, but require the entire ecosystem to work together to respond.
*This is not investment advice.
