Coinbase emphasized that while it is currently safe from quantum computer threats, long-term preparation is necessary. This is because the cryptographic technology of major blockchains could be neutralized if powerful quantum computers emerge. Coinbase stated in its report, "Quantum computer technology capable of threatening cryptocurrencies needs to be dozens of times more powerful than it is now. Experts believe it will take at least 10 years or more before it becomes an actual threat, but the possibility of faster-than-expected development cannot be ruled out. Bitcoin's core infrastructure is largely secure, but wallets are vulnerable. Digital signatures, the cryptographic technology used to prove asset ownership, could be neutralized by quantum computers. Wallets with some key information exposed on-chain are particularly at greater risk. We have formed an advisory committee to establish a technology-based security strategy and are building our systems flexibly to allow for the introduction of new cryptographic standards. Additionally, we are preparing for upgrades in cooperation with hardware and infrastructure partners. Preparing for quantum computing is a challenge that the entire industry must address together."
