Coinbase CEO Brian Armstrong said Oct. 29 the company has begun preparing its custody systems for post-quantum security, while Bitcoin (BTC) participants have yet to choose an upgrade path or migration date.
At the Q&A on Coinbase’s third-quarter results, Armstrong described quantum computing as a more serious long-term security concern for crypto than AI. He said he was “not too worried” about AI affecting elliptic-curve cryptography and called for preparation against quantum risks.
Armstrong said the work includes Coinbase custody systems and that blockchains would also need technical changes. His remarks concerned wallet keys and transaction signatures tied to approving spending, rather than encryption of transaction data. The Q&A gave no estimate for when quantum computing might pose a practical risk to crypto signatures.
A post published Oct. 13 set out Coinbase’s ideas for discussion, not a settled company position. The company described a Bitcoin transition as a complex effort likely to span multiple years, with design questions including signatures, transaction formats, staged protections and coins that may not move. EconoTimes previously covered Coinbase’s possible options for Bitcoin’s transition.
Armstrong said he hopes Bitcoin participants will make progress toward proposals over “the coming couple of quarters.” He named no preferred approach and announced no migration date; that period concerns discussion, not a scheduled network decision.
