Tom Kushner Coinbase launches an independent advisory board to study quantum computing risks to blockchain. Experts aim to guide developers and secure digital assets against future quantum threats.
Coinbase has taken a bold step in the crypto world by forming an independent advisory board to evaluate quantum computing risks to blockchain. This move positions the exchange at the forefront of preparing the crypto ecosystem for the next wave of technological challenges. As quantum computing evolves, its potential to disrupt cryptography has prompted Coinbase to act proactively, bringing together leading minds in quantum technology, cryptography, and blockchain security.
The newly formed board comprises senior researchers from universities, the Ethereum ecosystem, and industry leaders including Coinbase itself. The goal is to study how quantum computing could affect major blockchain networks, including Bitcoin and Ethereum, and publish actionable insights for developers, organizations, and users. Coinbase has emphasized that the board will operate independently of company management, serving as an industry-facing research body rather than an internal review panel.
Understanding the Threat of Quantum Computing
Quantum computing uses qubits to process information in ways that classical computers cannot. At scale, this could compromise the cryptographic techniques that protect blockchain transactions and wallets. While quantum computers capable of breaking blockchain encryption do not yet exist, the crypto industry is closely monitoring the technology. The advisory board aims to provide early warnings and guidance to prevent potential disruptions.
Coinbase expects the board to release its first position paper in early 2027. This paper will provide a baseline assessment of quantum-related risks and outline strategies to prepare blockchain networks for the future. The initiative will complement Coinbase’s internal efforts, such as updating Bitcoin address handling and key-management systems, and researching post-quantum cryptographic standards.
Industry Debate on Quantum Threats
The announcement has reignited the debate over how imminent quantum computing risks to blockchain truly are. Some, like Jefferies strategist Christopher Wood, view the threat as a serious concern. Wood recently removed Bitcoin from his flagship portfolio, citing fears that advances in quantum computing could weaken its long-term security. He warned that rapid progress toward cryptographically capable quantum machines could allow attackers to derive private keys from exposed public keys, threatening Bitcoin’s status as a store of value for long-term investors.
Others in the crypto space urge caution in interpreting these risks. Adam Back, cryptographer and co-founder of Blockstream, has argued that while Bitcoin should be quantum ready, the technology does not pose a near-term threat. He noted that quantum computing remains in its infancy, and even partial breaches would not allow attackers to steal Bitcoin, as encryption is not the network’s primary security mechanism.
Mark Thompson, co-founder and chief technologist at PsiQuantum, has offered a similar perspective. In a November interview with the Financial Times, he explained that large-scale quantum computers capable of breaking today’s public-key systems would require tens of millions of qubits. Such capabilities are far beyond current technology. Thompson emphasized that governments, companies, and blockchain networks will have time to adapt, including transitioning to post-quantum cryptography, long before any direct threat emerges.
Preparing for a Quantum Future
Coinbase’s advisory board reflects a growing recognition that proactive research and guidance are crucial. By bringing together academics and industry experts, the board will publish papers assessing the current state of quantum computing, offer recommendations for developers, and provide updates on major technological breakthroughs. This transparency is intended to benefit the entire crypto ecosystem, ensuring that developers, organizations, and users can stay ahead of potential threats.
While quantum computers capable of endangering blockchain networks remain years away, planning for their arrival is essential. Coinbase’s initiative signals that major crypto players are taking the technology seriously, creating a roadmap for resilience. Experts anticipate that gradual advancements in quantum computing will allow time for blockchain networks to adopt post-quantum cryptography, securing assets before any real-world threats materialize.
Conclusion
Coinbase is leading the charge in preparing the crypto industry for the future by addressing quantum computing risks to blockchain. Through independent research and public guidance, the advisory board aims to safeguard digital assets and educate stakeholders about emerging technological challenges. While debates continue over the immediacy of quantum threats, Coinbase’s initiative demonstrates a commitment to long-term security and innovation. The first insights from this board are expected to shape how developers, investors, and organizations approach blockchain security in a quantum world.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards.
