Though limited, quantum advancements pose risks to financial transactions, e-commerce, and cryptocurrency security. Vietnam’s financial institutions must begin testing post-quantum cryptography (PQC) to protect customer data, while fintech startups need to adopt new encryption standards to stay competitive.
History has shown that tech predictions are often inaccurate. Ten years ago, Elon Musk claimed Teslas would be autonomous by 2017, and today we’re at level two or three on a scale of five. AI was once thought to be near human intelligence in the 1980s, but artificial general intelligence (AGI) is still distant. Quantum computing will follow a similar path – while Google’s Willow is a breakthrough, mainstream adoption faces hardware stability, high costs, and error correction challenges.
Should we worry about another quantum breakthrough this year? Not yet – governments and businesses are preparing for computing risks. In August 2024, the US National Institute of Standards and Technology (NIST) introduced PQC standards after eight years of research. Apple and Google have begun implementing quantum-resistant encryption. Vietnamese tech firms should follow suit, upgrading cybersecurity systems to prepare for the quantum era.
What it means for Vietnam?
Beyond Google’s success, quantum computing could transform Vietnam’s key industries.
In agriculture, it could optimise supply chains, forecast demand, and improve logistics. In healthcare, it could accelerate drug discovery, especially traditional herbal medicine. It could also enhance renewable energy efficiency, maximising solar and wind power output.
Vietnam’s digital economy stands to gain significantly. Quantum computing could strengthen cybersecurity, financial optimisation and analysis, and AI-driven analytics, supporting Vietnam’s rapid tech growth.
Can Vietnam catch up in the quantum race?
Quantum computing is still in its early stages, but global powers are investing heavily in its development. While Vietnam is not yet a leader, international partnerships could accelerate progress. Collaborating with research institutions in the US, China, and the EU, while strengthening domestic research through institutions like the Vietnam Academy of Science and Technology, will be key to building local expertise.