The Urgency of Post-Quantum Design for Central Bank Digital Currencies

The Republican Party, in its 2024 platform, expressed concerns about a potential US central bank digital currency (CBDC) being a privacy-invading surveillance tool. The focus should be on building a CBDC resistant to cyberattacks, especially with the looming threat of quantum computing. Despite political opposition, CBDCs are gaining interest globally. Pilot projects by MIT and The Digital Dollar Project have highlighted the need for quantum-resistant designs. The US must prioritize post-quantum algorithms to safeguard its monetary system. Initiatives like the National Quantum Initiative Act and CISA's Quantum Readiness roadmap are steps in the right direction. However, there is a lack of specific post-quantum research for CBDCs. Investing in post-quantum research and development for CBDCs is crucial for national security. Legislative efforts to ban CBDC research are not the solution; instead, focus should be on developing CBDCs with post-quantum features to secure America's financial future.