The identity inversionLead
The quantum conversation prices one exposure: data getting read. The systemic exposure is the other one. Quantum capability breaks asymmetric cryptography, which is the layer that proves who did what. Certificate chains, signing keys, customer authentication, and the machine credentials nobody has counted. A decrypted archive has a damage estimate. A forged signature inside a settlement system does not. Confidentiality failures are recoverable. Authentication failures are systemic, because a forged past cannot be un-signed. Institutions pricing quantum as an encryption problem are budgeting the cheapest third of it.
