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(continued)
With the rapid evolution of quantum computing power – some systems have over
5000 qubits of computing power 386 – administrators should begin to prepare for the
Prepare for Quantum Comput-
ing download-now-decrypt-later types of attacks, if not already in use post-quantum
wrappers being developed to protect existing ciphers. 387 The Monetary Authority of
Singapore has already begun studying these potential vulnerabilities and risks.

11�6 Recommendations for Policy makers

• Policy makers may have a role in DLT deploy- tract-related bugs, to navigate liability trees and
ments in so far as they could develop (or even on how to assess damages. Similarly, data protec-
mandate) principles rather than specific technol- tion laws or regulations could also protect data on
ogies or standards that those involved in devel- DLTs by adopting best practices for securing and
oping and implementing DLTs need to abide by. restricting access to data such as using 2FA and
Security audits for example could be mandato- restricting access permissions.
ry, as well as 2FA methodologies if available in a • There is a need to ensure acceptable trade-offs
particular environment. As programs running on between various design consideration, which may
DLTs, smart contracts may have security vulnera- involve trade-offs in payment system require-
bilities caused by bugs. ments. Some central bank experiments indicate
• Policy makers could boost their use by creating resilience related challenges, while demonstrating
rules and regulations in these principles - or in robust privacy and acceptable transaction speed.
separate contract law provisions - that provide • Using time and value correlation, regulators can
clear guidance on how, in case of smart con- track atomic swaps between DLTs.

52 Security Aspects of Distributed Ledger Technologies