"If you have business and trade secrets that you would want to keep secret for ten to 50 years, then you need to start worrying now."
Jonathan Dowling, professor and Hearne Chair of Theoretical Physics, Louisiana State University
At the fundamental level, security of digital communication is based on trust that mathematically encrypted data is hard to crack by the conventional computer. This trust has been challenged by the notion of quantum computing. Since the late 1900s, scientists have long known that the standard encryption protocols such as RSA (still widely used today) or elliptic curves (used in blockchain such as bitcoin) are venerable to an attack by a fault-tolerant quantum computer.
Technological advances in the past 25 years have brought quantum computing from a Star-Trek-like technology to the realm of reality. Notable achievements include Nobel wining experiments and the demonstrations of quantum advantage where a quantum computer outperforms state-of-the-art supercomputers at specific tasks. While a fault-tolerant quantum computer is still far reaching, enterprises that want long-term protection of their data such as financial institutes, governments and hospitals need to take actions NOW.
Post-quantum cryptography provides new mathematical encryptions that are secure against currently known quantum algorithms. Although the technology only provides a short-term solution, it is the only option currently available for practical uses. Depending on security requirement, your enterprise may be required to have both software and hardware upgrades. Your option is either to act now or to cross fingers that a full-fledged quantum computer will never happen.