Signal Data breach cost of $4.44 million is cited as the driver of quantum-safe redesign

Summary

The Dubai Future Foundation outlook cites the rising cost of data breaches as a reason organizations are rethinking their security. Breaches now cost up to $4.44 million, according to the outlook. In response, many governments, financial institutions and healthcare providers are redesigning their data flows and moving to quantum-safe encryption. The implications go beyond encryption itself. Large volumes of genomic sequences, wearable outputs and financial patterns could become safer to share, compute on and verify. At the same time, that data would stay protected from future decryption by attackers with quantum capabilities.