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Tuhin Kanta Pandey, Chairman of the Securities and Exchange Board of India (SEBI), on Wednesday highlighted the potential threats posed by quantum computing to current digital security systems."...Wherever in the financial sector or somewhere else, Cryptography is our standard used key for passwords, we need to prepare for it and work for cryptography-proof passwords, as after the introduction of Quantum computing, Cryptography will break," Pandey said, speaking to the reporters on the sidelines of ongoing Global Fintech Fest 2025 (GFF) in Mumbai.Cryptography is a technique of securing information and communications using codes to ensure confidentiality, integrity and authentication. Thus, preventing unauthorized access to information.
Quantum computing is an advanced form of computation that uses the principles of quantum mechanics to solve complex problems far beyond the capabilities of classical computers. It employs quantum bits, or qubits, which can exist in multiple states simultaneously due to superposition and can be linked together through entanglement, allowing for massively parallel processing.This approach enables quantum computers to tackle problems in fields like medicine, AI, financial modeling, and cryptography that are intractable for today's supercomputers. Earlier delivering the keynote address titled "Resilient and Inclusive Capital Markets in a Tech-Driven World" GFF 2025 Pandey said that every aspect of the Indian securities market from account openings and settlements to investor grievance redressal and market supervision has been redefined by technology."Today, the Indian securities market is being shaped by reforms and an ecosystem that is vibrant, resilient and inclusive. Technology is at the core of every step," Pandey said. Outlining SEBI's three core priorities of investor protection, market development and effective regulation, he said technology has become central to each of them. "Whether it is investor onboarding, payment safeguards or risk management, innovation has made the market faster, simpler and safer," he said.Pandey said SEBI's close coordination with depositories, exchanges and technology partners has strengthened investor confidence and market resilience. "We have built an ecosystem where the regulator, industry and intermediaries work together. That coordination is our biggest strength," Pandey noted.As India's markets continue to grow, Pandey said the focus should remain on balancing speed with safety. "The question is not only how fast we grow, but how safely," he said. "Let us continue to harness technology to build thoughtfully, collaboratively, and with an unwavering focus on trust, a capital market that truly embodies a resilient and inclusive India." (ANI)
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