Imagine that people discovered a technology that allows executing any algorithm instantly regardless of its complexity.

E.g.

• Decryption of any encrypted data happens instantly
• Simulation of systems of any complexity is instant
• There is no need to have multicore CPUs and GPUs since a single CPU can do all the work in an infinitely small period of time.

Most likely this discovery would lead to global chaos given how humanity trusts cryptographic laws. Let's suppose this technology is affordable by almost anyone and is cheap to use - like Bitcoin, for example.

1. How, in your opinion, humanity will likely leverage that technology in the first place?
2. Does what I described already have some name?
3. Are there existing writings about this kind of breakthrough?

Imagine that people discovered a technology that allows executing any algorithm instantly regardless of its complexity.

E.g.

• Decryption of any encrypted data happens instantly
• Simulation of systems of any complexity is instant
• There is no need to have multicore CPUs and GPUs since a single CPU can do all the work in an infinitely small period of time.

Most likely this discovery would lead to global chaos given how humanity trusts cryptographic laws. Let's suppose this technology is affordable by almost anyone and is cheap to use - like Bitcoin, for example.

How would humanity likely leverage that technology?

If anyone knows if what I'm describing has a name, or has been written about elsewhere, that would also be extremely helpful.