The G7 Central Bank Quantum Technologies Working Group released its first report, warning of financial encryption security risks.

Odaily Planet Daily reports that the G7 Central Bank Quantum Technologies Working Group has released its first public report, warning that quantum computing may have a profound impact on the global financial system, posing significant security challenges to traditional encryption systems. Established in 2025, the working group is led by the central banks of France and Canada and includes several major central banks worldwide. The report states that quantum computers capable of breaking cryptography are highly likely to emerge within the next decade, and the "collect first, decrypt later" attack model will threaten the security of existing financial data. The report recommends that financial institutions review their encrypted assets, gradually transition to post-quantum cryptography, and strengthen multi-party collaboration. Quantum technology can also empower risk modeling, asset allocation, and economic forecasting. This report signifies that the G7 central banks have officially incorporated quantum technology into their financial stability considerations, potentially driving a long-term upgrade of global financial infrastructure. (Crowdfundinsider)