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Do we need quantum resistance in Web3?
Conor Svensson

Published On - January 4, 2023

Do we need quantum resistance in Web3?

In the last episode of our new season of Web3 Innovators, our host Conor Svensson is joined by Marcos Allende López, CTO at LACChain and Specialist in Blockchain, Digital Assets, Quantum Technologies, and SSI at  Inter-American Development Bank.

Marcos is also a Professor in Blockchain and SSI working at the European Tech School and Three Points, The School for Digital Business

 

 

Episode highlights:

  • How Marcos started to learn more about blockchain technologies and cryptocurrencies after applying for his current position at Inter-American Development Bank
  • How quantum technologies and blockchain are linked by cryptography
  • The work that Marcos is doing on blockchain and how this is developing
  • How Marcos believes we need better assurance frameworks in addition to the regulatory policies
  • The biggest challenges Marcos sees with quantum and blockchain technology both in the immediate and future
  • How Marcos believes we should be focusing on quantum resistance now so we have solutions in place should quantum computers be ready before the blockchain networks are ready for them
  • How they created one of the first orchestration vehicles for blockchain
  • The advice Marcos would give to anyone hesitant to use blockchain

Key Takeaways:

Quantum computing and quantum cryptography which are being actively developed are essential for the blockchain Web3 and all the assets that are now being created and generated in blockchain networks. So the quantum and blockchain worlds are actually very connected and it is very important to start having a conversation around what might happen in the next few years around this. - Marcos
My work has been focused on building and maintaining something that is between the enterprise and the crypto blockchain worlds, which is a permission public blockchain. So basically we created this infrastructure that is intended for Latin America and the Caribbean but available globally, with suitable features for public and public sectors. - Marcos

We need to start having the conversation about quantum computers hacking blockchain now because the solution might not be that easy. Replacing or adapting the cryptography of current blockchain networks is not going to be an easy problem to solve because blockchains are so inherent to the type of cryptographic algorithms that they're using. - Marcos

It is important to start developing great interfaces. I think it is time to understand that not every organisation needs to run a blockchain node and run their blockchain, their smart contracts and their APIs, and do their integrations. We know how difficult it becomes because some organisations don't have the expertise or don't need to run their own notes and smart contracts and be responsible and accountable for that. - Marcos
Individuals and enterprises using different blockchain networks, different digital wallets, different assets in a way that it interoperates. I think that's when blockchain is going to become mainstream. - Marcos

Connect with Marcos on Twitter

Resources:

Web3 Innovators