White House blacklisted 8 Chinese Quantum computing companies to remain away from any kind of national security risk.
The Biden administration announced that the White House blacklisted 8 Chinese computing-inclined companies to avoid any national security risk. Now, these companies are added to the US Department of Commerce’s Entity List.
The entity under which these companies are now listed is a national security tool, which is under the use of the Bureau of Industry and Security (BIS).
According to the announcement, 27 companies have been added to the list including these 8 Chinese companies because of many factors that pose national security risks regarding quantum computing technology. Officially they added:
“Eight technology entities based in the People’s Republic of China (PRC) are being added to the list as part of the Department of Commerce’s efforts to prevent US emerging technologies from being used for the PRC’s quantum computing efforts that support military applications, such as counter-stealth and counter-submarine applications and the ability to break encryption or develop unbreakable encryption.”
It is worth noting that currently, Quantum computing is a key factor to crack the cryptography coding that means these Quantum computing inclined companies may bust the cryptocurrencies. However, this is just a theoretical assumption.
Andrew Fursman- quantum computing expert- said that the current potential of quantum computing technology poses a huge risk to Bitcoin. However, no type of attack has so far been seen but surely no one in this world would like to see any threat because of Quantum computing technology.
“Whether quantum computers come out tomorrow or in five years or ten years, they are capable of being cryptographically useful. Those devices are going to be capable of doing something that you might not want if you are somebody that’s keeping a secret”