Quantum Computing Threatens Bitcoin, Ethereum as McKinsey Reports Shift to Commercial Deployment

McKinsey has for the first time documented a paradigm shift in the quantum computing industry: the sector has moved from development to commercial deployment. This development has direct implications for cryptocurrency users, as a sufficiently powerful quantum computer could crack the cryptography underlying Bitcoin, Ethereum, and most blockchains.

Data can be intercepted now and decrypted later when such computers become available. An investment narrative has emerged around quantum computing, including stocks, ETFs, and 'quantum' tokens, making it harder to distinguish real progress from hype.

A new column 'Quantum & After' will explore these issues, starting with whether the current excitement represents a new pump cycle.