Altcoin News: NSA May Develop Quantum-Resistant Cryptocurrency

September 5, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The US National Security Agency (NSA) may be developing a quantum-resistant cryptocurrency. It was reported by Bloomberg Technology journalist William Turton, who attended the annual Billington CyberSecurity Summit in Washington.

The information provided by Turton does not abound in detail.

“Anne Neuberger, Director of NSA’s new Cybersecurity Directorate says that the agency will propose hardware and software standards again. Also notes agency is working to build quantum resistant crypto” Turton writes on Twitter.

The reasons for the NSA’s potential interest in developing such a cryptocurrency are unclear, but experts agree that quantum computing is a threat to cryptography mechanisms, albeit so far distant.

Previously, the NSA’s activities in the cryptocurrency space, according to public data, consisted solely in tracking the actions of their users, if we discard the version that the US Department of Defense contributed to the creation of Bitcoin.

For the first time, the formation of a cybersecurity department at the NSA was announced in July. It is expected that it will begin operations on October 1. As the main direction of the structure’s activities, “the prevention of threats to national security systems and the military-industrial base” has been declared.

In March 2018, a former NSA employee, Edward Snowden, reported on Bitcoin users surveillance.

Author: Marko Vidrih