Adam Back, CEO of Blockstream, has downplayed the immediate threat of quantum computing to the Bitcoin network, but stressed the importance of preparation. As a pioneer in Bitcoin's history with a background in cryptography dating back to the 1990s, Back argued that while the quantum risk is theoretically real, it is not yet a practical concern in an interview with Bloomberg. Back pointed out that current quantum hardware lacks error correction, a point supported by recent research papers. Although the threat is long-term, Back emphasized that the focus should be on timing the response correctly, allowing for a gradual migration to quantum-resistant formats over the next decade.
With post-quantum cryptography already transitioning from theory to implementation, particularly after NIST's standardization in 2024, Back highlighted ongoing research and deployment efforts across the ecosystem, including a dedicated 20-person research team and the use of Blockstream's Liquid network as a testing ground. The challenge lies in coordinating a slow and orderly migration before the risk becomes pressing.