What happens to digital asset ownership when the cryptography proving that ownership can no longer be trusted?

In this episode of Tech Talks Daily, I speak with Yoon Auh, cofounder of BOLTS Technologies, about quantum computing, blockchain security, and the need for crypto agility. Yoon brings an unusual perspective to the subject. Before moving into applied cryptography, he spent years building and operating high performance trading systems at firms including Credit Suisse, Goldman Sachs, Geode Capital, and Magnetar Capital.

Yoon explains that blockchain ownership ultimately depends on digital signatures and public keys. Most major blockchain systems use variants of elliptic curve cryptography because it has historically offered speed, compact signatures, and dependable protection. However, sufficiently powerful quantum computers could eventually challenge the mathematics supporting that protection.

The risk does not begin when such a quantum computer arrives. Yoon describes how attackers can collect encrypted traffic today, store it, and attempt to decrypt it later. This creates an immediate concern for governments, financial institutions, and businesses holding information that must remain private for many years.

We also discuss QFlex, the post quantum ready API developed by BOLTS Technologies. The company describes its approach as cryptographic logistics, allowing different cryptographic methods to be selected at the transaction level. Yoon argues that a small payment and a multimillion dollar asset transfer should not automatically receive identical protection, particularly when stronger cryptography may require additional processing, storage, and cost.

Another concern is uncertainty around the available post quantum algorithms. Yoon explains that cryptographic methods can survive years of examination before a weakness is discovered. His argument is that organizations need the ability to change algorithms quickly if one becomes vulnerable, rather than making a permanent choice and hoping it survives every new attack.

The conversation also examines digital asset sovereignty. Who decides how a transaction is protected: the platform, the protocol, or the asset holder? BOLTS Technologies believes that choice should return to the holder, while QFlex aims to provide that control without hard forks, network downtime, or protocol changes. The interview also covers the company's research background and its pilot work with the Canton Foundation.

Yoon closes with a lesson from his trading career. Backup and failover exercises often failed because they were treated as occasional events. His advice is to make exceptional processes routine, ensuring that the organization has already practiced changing systems before the moment arrives when it has no other option.

Should digital asset holders control the cryptography protecting every transaction, or should platforms continue making that decision for them? Listen to the episode and share your thoughts with me.