Industry experts warn crypto infrastructure is ‘creaking’
A group of cyber security and financial services experts has warned that the world’s cryptographic infrastructure is “struggling to remain fit for purpose” and is putting digital trust at risk.
In a new report, authors from HSBC, Thales and InfoSec Global, including Taher Elgamal, the designer of the secure sockets layer (SSL) protocol, argued that cryptographic systems designed more than 30 years ago are now “creaking” under the weight of the modern digital economy.
“The cryptographic infrastructure has failed to adapt to the new reality and is no longer fit for purpose in many cases,” they noted. “This means the security of fundamental building blocks is no longer a given and, consequently, may be vulnerable.”
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