G7 Quantum Statement

I wrote about post-quantum cryptography and the Cloud Security Alliance / IBM report, which showed clearly that quantum risk is much closer than many organizations still believe. Today, I came across something equally important. The G7 Cyber Expert Group has published a Quantum Roadmap aimed specifically at Finance Ministers and Central Banks, providing guidance on how the global financial system should prepare for quantum computing risks.

The document sets out high-level, strategic guidance for G7 governments, central banks, regulators, and financial authorities on how to address risks arising from cryptographically relevant quantum computers.

Obraz autorstwa rawpixel.com na Freepik

The Threat Timeline

The roadmap does not speculate on an exact date when quantum computers will break classical cryptography. But inform that the transition away from vulnerable cryptography will take many years.

Financial systems:

➡️ rely on deeply embedded cryptographic mechanisms,

➡️ have long system lifecycles,

➡️ depend on interoperability across borders and institutions.

Financial Systems

The roadmap highlights that financial institutions depend heavily on:

➡️ public key infrastructure,

➡️ digital signatures,

➡️ secure communications,

➡️ long-term data integrity.

Many financial records must remain secure for decades, not years.

Governance

One of the most important points in the roadmap is that quantum preparedness is not just a technical migration.

Authorities are encouraged to:

➡️ identify critical cryptographic dependencies,

➡️ assign clear ownership and accountability,

➡️ integrate quantum risk into enterprise and systemic risk management,

➡️ coordinate across public and private sectors.

Crypto-Agility

The roadmap stresses the importance of crypto-agility:

➡️ the ability to change cryptographic algorithms efficiently,

➡️ support hybrid (classical + post-quantum) approaches,

➡️ avoid hard-coded or inflexible cryptographic implementations.

Coordination Is Essential

Because financial systems are global, the roadmap emphasizes:

➡️ international coordination,

➡️ standards alignment,

➡️ avoiding fragmented or incompatible national approaches.

What I find particularly interesting is the timing.

✅ Yesterday:

➡️ industry research shows organizations are not ready for post-quantum transition.

✅ Today:

➡️ the G7 tells finance ministers and central banks to start preparing now.

Link

Author: Sebastian Burgemejster