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Working Paper
“Harvest Now Decrypt Later”: Examining Post-Quantum Cryptography and the Data Privacy Risks for Distributed Ledger Networks
This paper analyzes the risks posed by future-state quantum computers, specifically the “harvest now decrypt later” (HNDL) risk. We review foundational concepts of quantum computing to address the present and ongoing threat of HNDL to currently protected data. We use the Bitcoin network as an illustrative example to study the implications of HNDL for distributed ledger cryptocurrency networks that rely upon traditional cryptography. We posit that while cryptocurrency distributed ledger network maintainers could successfully deploy post-quantum cryptography (PQC) mitigations to protect the ...
Report
AI-Enabled Fraud Is On the Rise — Here’s How to Beat It
A February 2024 deepfake scam in Hong Kong, where an employee wired $3.2 million to fraudsters posing as executives, highlights a critical reality: AI-enabled fraud is on the rise. In the past year, about 79 percent of financial institutions experienced fraud attempts. As AI-driven attacks outpace traditional defenses, the core challenge is no longer flawless prediction, but the ability to buy time to respond before damage occurs. We argue that AI’s primary value in fraud prevention is not merely speed but its capacity to detect uncertainty early and deliberately slow down risky ...