IBM / Georgia Tech 500Ghz Processor

This week, IBM announced that it has achieved a clock speed of 500 Ghz with its new silicon based chip. They partnered with Georgia Tech for this research. Though 500 Ghz was achieved at freezing low temp, the Chip clocked 350 Ghz at room temp. Will this change the way we work ?? Will be move from 2 - 3 Ghz processors to 350 Ghz processors ?? Will such high computation power help break some Complex NP Problems like Factorization problem and more which provides strength to some of the strongest Encryption Algos like RSA, Ellitic curve Cryptography etc ??