Coinbase Establishes Independent Advisory Board to Assess Quantum Computing Risks to Blockchain
Coinbase has formed an independent advisory board to evaluate the potential impact of quantum computing on the cryptography used by major blockchain networks, including Bitcoin and Ethereum. This move aims to address concerns about the potential risks and consequences of advances in quantum technology on the security of digital systems.
In a blog post, Coinbase introduced the advisory board, which comprises experts in quantum computing, cryptography, distributed systems, and blockchain security from academia and industry. The board includes senior researchers from major universities, the Ethereum ecosystem, and Coinbase. The primary goal of the board is to provide an independent assessment of the state of quantum computing and its potential impact on blockchain systems.
The advisory board will publish public papers assessing the current state of quantum computing, issue guidance for developers, organizations, and users, and respond to significant advances in quantum technology with independent analysis. The board is expected to publish its first position paper in early 2027, outlining a fundamental assessment of quantum-related risks. 
Independent advisory board for quantum computing. Source: Coinbase
The Ongoing Debate in Crypto About Quantum Computing
Quantum computing is a form of computing that uses quantum bits, or qubits, to process information in a way that is fundamentally different from classical computers. As technology advances, debate continues in the crypto industry about the potential risks and consequences of quantum computing on the security of digital systems. Some experts argue that quantum computers could challenge some of the cryptographic techniques used to secure digital systems, while others believe that the technology is still in its early stages and does not pose a near-term threat.
For instance, Jefferies strategist Christopher Wood removed Bitcoin from his flagship “Greed & Fear” model portfolio, citing concerns that advances in quantum computing could undermine the cryptocurrency’s long-term security. On the other hand, Adam Back, a cryptographer and co-founder of Blockstream, argued that while it makes sense for Bitcoin to be “quantum-ready,” quantum computing does not pose a near-term threat. 
John Thornhill, left, talks to Mark Thompson at Slush 2025 in Finland. Source: PsiQuantum
Expert Assessments and Predictions
Mark Thompson, PsiQuantum’s co-founder and chief technologist, expressed a similar assessment of the timeline, stating that large quantum computers will eventually be able to crack today’s public-key encryption systems, but the hardware required remains far beyond current capabilities. Quantum computers capable of such attacks would likely require tens of millions of qubits, meaning commercial and scientific applications would emerge long before any direct threat to cryptography.
Thompson argued that this incremental progress would give governments, companies, and blockchain networks time to adapt, including moving to post-quantum cryptographic standards. He emphasized that when people start using quantum computers to solve important problems, it would be a sign that the technology is advancing, and that’s when we should start worrying.
Coinbase’s initiative to establish an independent advisory board is a step towards addressing the potential risks and consequences of quantum computing on blockchain security. The company’s efforts to update Bitcoin address processing and key management systems, as well as longer-term research into post-quantum cryptography standards, demonstrate its commitment to ensuring the security and integrity of digital systems. For more information, visit https://cointelegraph.com/news/coinbase-board-quantum-computing-risks-blockchain?utm_source=rss_feed&utm_medium=rss_tag_blockchain&utm_campaign=rss_partner_inbound
