James Bachini

The Future Of Cryptography

Future Of Cryptography

Have you ever wondered how the world of cryptography will evolve in the next two decades? As technology races forward, the landscape of data security is set to undergo dramatic transformations. From quantum resistant algorithms to biometric encryption, the future holds exciting possibilities. Let me take you through the fascinating journey of where we might be heading…

The Quantum Challenge

Imagine a world where today’s cryptographic methods are rendered obsolete by the power of quantum computing. This is not a distant scifi scenario but a looming reality. Quantum resistant cryptography will be our fortress against such threats.

From a cryptocurrency perspective it’s unlikely to impact or break any of the coins you are holding. It’s only really state actors that have access to the equipment required to even attempt to break the current standards. If they were successful at doing so it’s highly unlikely that they would use that technology to steal Satoshi’s coins, it would be used for national intelligence. Blockchain developers will be able to upgrade to quantum resistant algorithms long before this ever becomes a viable threat.

Private Data

The area of Homomorphic Encryption is the concept of performing computations on encrypted data without ever needing to decrypt it is mind blowing. This technology promises to revolutionise industries like healthcare and finance by allowing secure data processing without exposing sensitive information. I couldn’t help but imagine the vast applications and how it could redefine data privacy standards.

Zero knowledge proofs (ZKPs) are used today to allow one party to prove to another that a statement is true without revealing any information beyond the validity of the statement itself. Their efficiency and robustness are continually improving, making them a cornerstone of future cryptographic applications.

Decentralised Identity Solutions

One of the most empowering aspects of modern cryptography is decentralised identity systems. These systems, leveraging blockchain technology, put control of personal information back into the hands of individuals.

This shift promises to mitigate risks associated with data breaches and reduce reliance on centralised authorities. DIDs could transform identity management, providing more secure and private ways to handle digital identities.

Blockchains are inherently transparent which causes some privacy issues with regards to personal data. I believe it’s only a matter of time before we see decentralized social networks and other consumer applications become more mainstream.

The Role of AI in Cryptographic Analysis

Artificial intelligence enhanced tools are becoming widely used in analysing cryptographic systems, identifying vulnerabilities, and optimising algorithms. The role of vast computation on large data sets is well suited to cryptography but not blockchains.

Blockchains are designed to hold small amounts of data and computation is expensive. Bare this in mind next time you hear a pitch about “AI on the blockchain” which is the tag line for hundreds of projects, startups and token offerings.

Biometric Encryption

Biometric data is becoming a cornerstone of encryption. Fingerprints, facial recognition, and retina scans are being used to generate cryptographic keys, offering a new level of security. However, ensuring the privacy and security of biometric data is paramount.

I think worldcoin has proven that not everyone wants their retina scanned, even if they are offered a bribe to do so. It’s now common place to use face unlock on a laptop or fingerprint unlocks for your mobile phone.

This technology is still in the early phases and we will likely see further innovation and experimentation with biometric encryption in the future.

As we move forward, these anticipated innovations in cryptography will play a pivotal role in protecting our increasingly sensitive and voluminous data against threats.

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Thank you.

James Bachini

Disclaimer: Not a financial advisor, not financial advice. The content I create is to document my journey and for educational and entertainment purposes only. It is not under any circumstances investment advice. I am not an investment or trading professional and am learning myself while still making plenty of mistakes along the way. Any code published is experimental and not production ready to be used for financial transactions. Do your own research and do not play with funds you do not want to lose.