Cryptographic algorithms are the backbone of secure data and communication. When deployed correctly, public-key algorithms have generally helped safeguard data against attacks. However, industry experts predict that once cybercriminals gain quantum computing capabilities within the next decade, they will be able to crack these algorithms. Bad actors are currently putting “harvest now, decrypt later” plans in motion, where they collect encrypted data and store it with the goal of decrypting it later.
Algorithmic decryption advancements by cybercriminals pose a growing threat to decades-old standard cryptographic algorithms. Business leaders must recognize that even the most popular cryptographic algorithms that protect all our sensitive data are not safe from being cracked.