Quantum Risk: Hong Kong's Banking Sector Takes Baby Steps Hong Kong's banking sector is alarmingly unprepared for the cybersecurity risks posed by quantum computing, according to a new readiness index from the HKMA.
The average score across the sector is a dismal 2. 3 out of 10.
Quantum computers will soon be powerful enough to break many widely used encryption standards, prompting regulators and financial institutions worldwide to prepare for a shift to post quantum cryptography (PQC).