Securing Europe’s Digital Future: The Quantum Race to Protect Communications

The Evolving Cybercrime Landscape

Cybercrime is projected to cost the global economy $10 trillion by 2025, driven by escalating geopolitical tensions, the rapid adoption of emerging technologies and a widening cybersecurity skills gap. Ransomware attacks are becoming more frequent, sophisticated and disruptive. In 2024 alone, global ransomware incidents reached 4,414 – an 11% increase from the previous year – demonstrating that the threat is only growing. Critical infrastructure is estimated to be the target of over half of attacks, according to the European Repository of Cyber Incidents. Yet there is an even great cyber threat on the horizon – quantum.

The Quantum Computing Conundrum

Quantum computing represents a groundbreaking technological advancement. It will bring immense economic and scientific potential with the ability to solve problems beyond the reach of the most powerful classical computers. By 2035, the global quantum computing market is expected to add over $1 trillion to the global economy. While AI is currently the mot du jour, quantum will without a doubt be the key technology of the next decade, perhaps even the next century.

Yet quantum computing also presents a profound cybersecurity threat. The global economic system currently relies on traditional encryption like RSA or ECC to secure everything from online banking to military communications. Powerful quantum computers will be able to break this encryption in a matter of seconds.

Experts warn that Q-Day – the moment when a functional quantum computer can break current encryption – could arrive in the next three to five years. Earlier this year, Microsoft unveiled a chip which could pave the way for faster development of quantum computers. This means today’s cryptographic standards will soon be obsolete. In fact, many view it as obsolete already given encrypted data can be stored by bad actors now with a view to decrypting it later.

The consequences will be severe. Every online banking transaction, business contract and government communication will be exposed to cybercriminals. It is not just an economic risk, but a geopolitical risk too. Intelligence agencies’ encrypted communications, military strategies and classified files could be accessed by state actors, increasing the risk of geopolitical instability.

To mitigate these risks, organisations and governments must act now to safeguard data, protect public trust and ensure stability as quantum-powered cyber threats become a reality.

The Role of Quantum Technology

The good news is that while quantum computing presents the problem, it also provides the solution.

At Quantum Industries, we’re focused on securing critical infrastructure against cyberattacks and the looming threat of quantum computing. Our proprietary technology uses quantum entanglement – a game-changing cybersecurity method that provides encryption via a law of physics which is intrinsically impossible to hack. Encryption keys are randomly generated so they cannot be copied and they scramble if disrupted, meaning stealth eavesdropping is scientifically impossible. This enables us to provide the highest level of security over the longest distances, providing pan-continental networks that are required for critical infrastructure.

What Businesses & Governments Need to be Doing

Governments, security agencies and increasingly businesses are alive to the risk posed by quantum computing. By the end of 2022, governments announced a total of $34 billion in quantum technology investments. The market is estimated to be worth over $100 billion by 2040, with quantum communications making up to $7 billion of this, according to McKinsey & Company.

Europe is a driving force behind the quantum industry in terms of funding, talent and technology. The EU is the second highest government investor in quantum technology after China; it produces the highest number of graduates in quantum-related fields; and 14% of all quantum technology patents have been granted to European organizations.

In the current geopolitical environment, it is vital that European governments and organizations continue to invest in sovereign quantum secure communications. Failure to keep pace with this rapidly developing industry risks immense economic and geopolitical disruption.

At the same time, organizations must act now to mitigate the risks posed by quantum computing. The first step is assessing their legacy infrastructure, understanding how sensitive data is currently protected and identifying vulnerabilities. They should also conduct regular risk assessments to stay ahead of emerging threats like “Harvest Now, Decrypt Later,” where bad actors stockpile encrypted data today, intending to decrypt it once quantum computing advances. Staying informed on quantum breakthroughs and adjusting strategies accordingly is critical. This isn’t a future problem – it’s happening now. Businesses that fail to adapt will expose themselves to unprecedented security risks.

The Time to Act is Now

At Quantum Industries, we’re supporting Europe’s role in this space by manufacturing 100% of our components in Austria, expanding operations locally and keeping production within the region.

Furthermore, we’re already a key supplier to the European Quantum Infrastructure Programme, which aims to build secure quantum communication infrastructure that will span the whole of the EU. Our role is partnering with national and international critical infrastructure providers to lay the foundations for the most secure communication in the world. On top of this, our recent funding round will accelerate our expansion and commercialization, further cementing Europe’s leadership in quantum security.

Looking ahead, Quantum Industries is committed to driving the future of global critical infrastructure security. We’ll continue advancing cutting-edge quantum technologies, boosting Europe’s scientific and cybersecurity capabilities and helping the region achieve its Digital Decade goal of quantum leadership by 2030. The quantum era is here and the race to secure global communications has already begun.