Thai banks evaluate quantum impacts

Future computing poses major threat

- SOMRUEDI BANCHONGDUANG

The Thai banking industry is intensifying efforts to assess the potential impacts of quantum computing, with the Thai Bankers' Association's (TBA) cybersecurity unit working with the Bank of Thailand to evaluate related risks and develop guidelines to safeguard the financial system.

According to Kitti Kosavisutte, honorary adviser to the Thailand Banking Sector Computer Emergency Response Team (TB-CERT), a group of financial institutions under the TBA, banks have been aware of quantum computing technology and its implications for about two years.

TB-CERT has been monitoring developments in advanced economies, their regulatory responses, and emerging international standards related to quantum computing.

The White House set a 2030 deadline for transitioning to post-quantum cryptography (PQC) — a security framework designed to protect US systems from future quantum-based cyberthreats.

Similarly, the EU has urged member states to migrate to quantum-safe encryption by 2030, citing urgent cybersecurity risks posed by the advent of quantum computers. The EU plan promotes PQC adoption across most sectors, while exploring quantum key distribution for high-security applications.