Joe Rogan Ponders Google’s Quantum Breakthrough, Says It Could Be ‘Huge Threat’ to Bitcoin and Crypto
On a new episode of The Joe Rogan Experience, actress and comedian Roseanne Barr tells host Joe Rogan that traditional forms of money will become a thing of the past.
According to Barr,
“There’s not gonna be any more money.”
Rogan then wonders if there’s going to be any more cryptocurrencies, noting recent advancements from Google in the field of quantum computing.
Such developments could potentially lead to a device that’s powerful enough to crack modern forms of encryption – spelling trouble for Bitcoin and the thousands of other cryptocurrencies that are based on blockchain technology.
“This Google quantum computing thing – they think it’s a huge threat to cryptocurrency.
I’m too stupid to understand whether or not they’re right. I’m way too uninformed too. But what they’re trying to say is there would be no way you would be able to encode or encrypt this information that would keep it from this insane computing power they’re developing.”
Some analysts, however, caution that Google is far away from breaking Bitcoin and note that research on how to protect the internet and blockchain technology against the forces of quantum computing is well underway.
Digital money pioneer David Chaum, a cryptographer who developed the anonymous digital currency eCash in 1983, is designing his own digital asset called Praxxis that he says will feature anonymous transactions and quantum resistance.
QAN is another project focused on creating a blockchain that can resistant a potential quantum threat.
The company’s chief technology officer Johann Polecsak tells Bitcoin.com,
“The notion of Google achieving a quantum breakthrough sounds very dramatic, but in reality, it’s hard to gauge the significance at this time.
How can we be sure that Google’s quantum computer is more powerful than D-wave’s, for example, which surpassed 1,000 qubits four years ago?”
Dragos Ilie, a quantum computing and encryption researcher at Imperial College London, says Google is far from cracking the cryptographic algorithms utilized by Bitcoin.
“Google’s supercomputer currently has 53 qubits.
In order to have any effect on bitcoin or most other financial systems, it would take at least about 1500 qubits and the system must allow for the entanglement of all of them…”
“As you add more qubits the system becomes more and more unstable … [though] researchers can try different approaches for solving these issues so maybe there are ways to mitigate these problems but right now we are quite far from breaking Bitcoin.”