What would happen if SHA256 or MD5 broke down in one day ?

Hi! I'm learning cybersec as part of my french digital law degree and I have to write an essay about what would happen if mathematicians found out a way to reverse hash functions. I guess it would be the end of the world right ? If I understood my class right even MFA uses hash functions (could you confirm this ?). In your opinion what would happen to the world if we woke up one day a none of our …

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