Research on the impact of quantum computing on the security of financial data encryption
Wuyun Zhaola
College of Finance, Inner Mongolia University of Finance and Economics
DOI: https://doi.org/10.59429/esta.v12i1.9654
Keywords: Quantum computing; Financial data; Encryption algorithm; Privacy protection
Abstract
This paper introduces the impact of quantum computing on the security of financial data encryption and analyzes the potential threats that quantum computing may pose to traditional encryption algorithms. Firstly, the basic principles and advantages of quantum computing were briefly described, especially its potential to crack classical encryption algorithms such as RSA and ECC and improve computational efficiency. Secondly, the impact of quantum computing on financial transactions, payment systems, privacy protection, and identity authentication was explored, and the security risks faced by financial data were pointed out. Finally, countermeasures were proposed, including post quantum encryption technology, quantum key distribution (QKD), and cross domain cooperation, aimed at improving the security of the financial system. Although quantum computing brings challenges, the financial industry can address this emerging threat and ensure data security through technological innovation and strategic deployment.
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