With the recent advancements in quantum computing, there is a threat that today’s widely used digital encryption schemes will become vulnerable to cryptography-breaking quantum algorithms. In particular, today’s most widely used asymmetric encryption schemes will be the most vulnerable. On the other hand, it is likely that symmetric encryption and hashing schemes will remain robust even with the advent of powerful quantum computers of the future. In addition, today’s quantum computers are not powerful enough to implement the asymmetric cryptography-breaking algorithms; however, as quantum computers become more powerful and more research is put into these quantum algorithms, it is only a matter of years before the most widely used asymmetric encryption schemes of today are no longer secure. Therefore, a global effort being led by the National Institute of Standards and Technology (NIST) is underway to tackle this issue. As long as these efforts continue to progress at the current pace the potential adverse effects of these cryptography-breaking quantum algorithms are likely to be largely mitigated.