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TEXXR

Chronicles

The story behind the story

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After Chinese researchers claimed to break RSA encryption using quantum computers, experts are skeptical and caution that any commercial benefits are years away

China claims to have made a major breakthrough but western experts say any commercial benefits are still years away

Financial Times Richard Waters

Context & Ripple Effects

The claim lands in a field Beijing has been cultivating for years: as far back as 2018, China was investing millions in quantum encryption while Washington scrambled to catch up. A working quantum attack on RSA would be the ultimate payoff of that program — which is exactly why western cryptographers are treating the announcement with suspicion rather than alarm.

The skepticism also fits a documented pattern. Experts had already warned against unrealistic expectations for quantum computers, citing the difficulty of building fault-tolerant systems, and later coverage traced how breakthrough claims from Google, HSBC, and others boosted quantum stocks in 2025 before scrutiny caught up. This RSA claim is an early instance of the claim-first, verification-later cycle now familiar to the sector.

First-order effects

  • Security teams at banks, governments, and infrastructure operators face immediate pressure to assess whether RSA-protected data needs emergency re-encryption — even though the experts' verdict is that no practical threat exists today.
  • Western quantum researchers are forced into public rebuttal mode, spending credibility capital debunking a rival nation's claim rather than advancing their own roadmaps.

Second-order effects

  • Vendors of post-quantum cryptography gain a marketing tailwind: every contested quantum-break claim, credible or not, accelerates enterprise budgets for migrating off RSA.
  • Quantum computing companies ride the attention cycle — the same dynamic that later lifted quantum stocks on breakthrough headlines — but risk the backlash when claims fail replication.

Third-order effects

  • If claim-and-skepticism cycles keep recurring, the industry's credibility problem deepens: funders and governments may demand reproducible results before backing the next round, slowing the very commercialization timeline Big Tech is betting on by 2030.
  • Regardless of who is right, the steady drumbeat of quantum threats pushes the security world toward a structural shift away from RSA toward post-quantum standards — a migration driven as much by fear of claims like this one as by demonstrated capability.

The trend: Quantum computing is moving through a hype-verification cycle in which national prestige claims outrun fault-tolerant hardware, while cryptographic migration proceeds on precaution rather than proof.

Discussion

  • @jkempenergy John Kemp on x
    In 1997/98, I had dinner with a friend who was one of the early pioneers in quantum computing. He predicted there would be functioning quantum computers within 20 years (which turned out correct) but would take much longer to be able to do anything useful: https://www.ft.com/...
  • @lukolejnik Lukasz Olejnik on x
    Finally some sensible questions asked in the mainstream press, @FT, about quantum computer hype, which already overtake some policymaker circles in Brussels, not necessarily based on factual insight. The progress is not around the corner. It's more gentle. https://www.ft.com/... …
  • @jimpethokoukis James Pethokoukis on x
    “After years of rising expectations, the lack of practical uses for the technology has led some experts to warn of a potential ‘quantum winter’ — a period when disappointment about a new technology leads to a waning of interest for a number of years.” https://www.ft.com/...
  • @khalafroula Roula Khalaf on x
    Fascinating read on Chinese claim of breakthrough in quantum computing https://www.ft.com/...
  • @1br0wn Ian Brown on x
    Making #Meta look good... “Based on their peak share prices soon after they each went public, Arquit, IonQ, D-Wave and Rigetti reached a combined value of $12.5bn. That has since fallen to $1.4bn.” #quantum #winter https://www.ft.com/...