Cryptography and Coding Theory are closely related in many respects. Recently, the problem of "decoding Reed Solomon codes" (also known as "polynomial reconstruction") was suggested as an intractability assumption to base the security of protocols on. This has initiated a line of cryptographic research exploiting the rich algebraic structure of the problem and its variants. In this paper we give a short overview of the recent works in this area as well as list directions and open problems in Polynomial Reconstruction Based Cryptography.