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White House Blacklists 8 Chinese Quantum Computing Companies Citing National Security Risks


Quantum computers have been identified as a potential threat to cryptocurrency technology because of their theoretical ability to crack the cryptography that secures digital assets.

Credit: The Daily Hodl

The Biden Administration has announced that it is blacklisting eight Chinese quantum computing companies over concerns that the technology they possess poses a threat to national security.

The companies have been added to the U.S. Department of Commerce's Entity List, which is a national security tool used by the Bureau of Industry and Security (BIS).

According to the Commerce Department, "Eight technology entities based in the People's Republic of China (PRC) are being added to the list as part of the Department of Commerce's efforts to prevent U.S. emerging technologies from being used for the PRC's quantum computing efforts that support military applications, such as counter-stealth and counter-submarine applications and the ability to break encryption or develop unbreakable encryption."

 

From The Daily Hodl
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