Coinbase CEO Brian Armstrong Says Quantum Computing Problem Is ‘Very Solvable’ and Sees No Risk to Blockchain – Coinbase Global (NASDAQ: COIN)

Coinbase Global Inc. (NASDAQ:COIN) CEO Brian Armstrong On Wednesday, he downplayed concerns that quantum computing could in the future crack blockchain encryption.

Coinbase is ‘ahead’ of quantum risks, says Armstrong

During an interview with CNBC, Armstrong said that quantum computing is a very “solvable” problem and that Coinbase is already “ahead” in solving it.

“We are in regular contact with major blockchains on the path forward to transition to a post-quantum crypto world,” the cryptocurrency mogul said. “So we’re going to stay committed to that.”

Coinbase announced last month the formation of an advisory board to assess the implications of quantum computing and prepare for “threats” even many years from now.

The advisory committee will publish research papers on the state of quantum computing, its blockchain implications, issue recommendations to organizations, and respond in real time to emerging threats.

Will Quantum Uncertainty Impact Crypto Investments?

However, leading industry figures have expressed concerns about the emergence of a quantum computer capable of deciphering Bitcoin (CRYPTO:BTC) public keys to derive its private keys.

Renowned investor Kevin O’Leary said earlier this week that fears over quantum computing could deter institutional investors from increasing their exposure to Bitcoin.