scope:

This report will provide:

• A description of how quantum computers work, and the different architectures being experimented with today

• A description of the technological hurdles remaining that are thwarting advancement to a large-scale quantum computer

• A list of the major companies, agencies and states participating in the race to create a stable, large scale, general purpose quantum computer

• An estimate of when a large scale, general purpose quantum computer (QC) will be operational

• Methods a quantum computer could use to break encryption, and how these attacks will specifically affect the different cryptographic methods used today

• Updates on the work being done by NIST to identify post-quantum algorithms

• Guidance for financial services organizations to mitigate quantum computing risk

• Steps that X9, as a standards body, needs to take over the next few years to prepare for the postquantum world