This report will provide: ?A description of how quantum computers work@ and the different architectures being experimented with today ?A description of the technological hurdles remaining that are thwarting advancement to a large-scale quantum computer ?A list of the major companies@ agencies and states participating in the race to create a stable@ large scale@ general purpose quantum computer ?An estimate of when a large scale@ general purpose quantum computer (QC) will be operational ?Methods a quantum computer could use to break encryption@ and how these attacks will specifically affect the different cryptographic methods used today ?Updates on the work being done by NIST to identify post-quantum algorithms ?Guidance for financial services organizations to mitigate quantum computing risk ?Steps that X9@ as a standards body@ needs to take over the next few years to prepare for the postquantum world