IBM (NYSE:IBM) Quantum (NASDAQ:QMCO) and Microsoft (NASDAQ:MSFT) have formed a coalition to tackle post-quantum cryptography alongside not-for-profit research tank MITRE, U.K.-based cryptography firm PQShield, Google (NASDAQ:GOOGL) sibling company SandboxAQ, and the University of Waterloo.
Post-quantum cryptography (PQC) addresses the potential threat posed by quantum computers of the future. Current cryptography schemes rely on mathematical problems to stymie decryption attempts.