Bitcoin is one of the world’s most battle-tested pieces of software. Launched in early 2009, the network has run continuously without being hacked, and today feels more secure than ever. There is, however, a threat on the medium-term horizon that threatens not only Bitcoin but every other type of software that relies on current encryption technology. That threat is quantum computing and, on Wednesday, Coinbase announced it has created a board of outside experts to prepare for its eventual arrival.
The board includes academics from Stanford, Harvard, and the University of California with specialties in fields like computer science, cryptography and fintech. Formally known as the Coinbase Independent Advisory Board on Quantum Computing and Blockchain, it is also composed of experts in blockchain and security from the Ethereum Foundation, the DeFi platform EigenLayer and from Coinbase itself.
