It’s Time to Secure the World's Communications from the Quantum Computing Threat

Quantum computers, which have the potential to make certain types of computation far faster than classical computers, are developing quickly and will soon be able to break encryption, including encryption codes used to protect the world's financial systems, government communications and critical infrastructure.  

According to the Global Risk Institute's Quantum Threat Timeline Report, experts previously estimated the threat would most likely materialise somewhere between 2030 and 2040. But the timeline is shifting.

Google, one of the global leaders in quantum computer technology, has set 2029 as its internal deadline to migrate to quantum-safe encryption, citing the accelerating risk. Research firm Gartner agrees, predicting that conventional cryptography will be unsafe to rely on by 2029. Forrester goes further, forecasting that over 90% of Asia Pacific firms will invest in post-quantum security in 2026 alone.

Adversaries are already getting ready for the day, by collecting and storing encrypted data that can be decrypted as soon as cryptographically relevant quantum computing technology is available.

For organisations handling sensitive data, the threat is already here. But data can be effectively protected, if organizations adopt quantum communications technology, a secure data transmission method that uses light particles, called photons, to establish encryption keys. If anyone tries to intercept the transmission, it disturbs the signal, so the potential intrusion can be inferred, causing the compromised key to be discarded and a new key generation process to be started.

This is the problem that Chune Yang Lum and Robert Bedington set out to solve when they founded SpeQtral in 2017. Both were researchers at the Centre for Quantum Technologies (CQT), Singapore's national research centre for quantum technologies, where Lum and Bedington worked on satellite-based quantum communications, one of many research areas CQT pursues. Convinced of its commercial potential, they spun the technology out into SpeQtral.

SpeQtral is driving innovation and putting in place the infrastructure to support the quantum internet, a future network that will use the principles of quantum physics to enable new levels of security and connectivity.

Building the Foundation

The early days were not easy as Singapore was still developing its reputation as a global centre for deep-tech innovation. Raising capital for a company building quantum communications technology has meant convincing investors to take a long-term view. SpeQtral raised US$1.9 million in its seed round in 2019, led by the US’ Space Capital, after a long fundraising journey.

That same year there was a key milestone that highlighted the potential of quantum communications – the successful launch into low-earth orbit of SpooQy-1, a CubeSat designed and built at CQT. It successfully generated entangled photon pairs in space, proving that quantum signals could survive the harsh conditions in orbit. It was the first step toward a global quantum internet.

Then the pandemic hit. Partnerships stalled and fundraising slowed, but the team pushed through, and a second funding round in 2021 unlocked crucial new partnerships, including with the European Space Agency (ESA). These partnerships laid the groundwork for the successful launch in November 2025 of SpeQtral's SpeQtre CubeSat. This quantum communications satellite, launched aboard SpaceX's Transporter-15 mission, was co-developed with the UK’s national space research facility RAL Space. SpeQtre is designed to demonstrate full entanglement-based quantum communications from space to ground.

SpeQtre has already established optical communication links with ground stations in Singapore and Chilbolton, United Kingdom. The full satellite-to-ground quantum communications demonstration is in the works for the coming months.

Besides the satellite programme, SpeQtral has been developing applications for its quantum communications technology. It has conducted pilot programmes with financial institutions and government partners to demonstrate how quantum communications can transmit financial data. The Monetary Authority of Singapore (MAS) and banks such as DBS, HSBC, OCBC and UOB were part of the pilot.

The Gap That Still Needs to Close

The technology is advancing, but raising awareness - for the threat that quantum computers pose to encryption – is a challenge.

"There is a knowledge gap. Experts in the field are aware of the issue, but some in the broader business community are still unaware or unwilling to act now. But now is the time to act, before it is too late," says Lum.

SpeQtral's story was featured in Bloomberg's Turning Point series in November 2024, as part of a broader exploration of how quantum technology is reshaping the future of computing and communications. Read the full article here.