Despite the hype still rife around blockchain, quantum computing threatens to undermine distribution ledger capabilities before they've even had a chance to disrupt the financial services. “And that's before we mention our quantum computing,” says Jason Kelley, the IBM Global Head of Blockchain, at the very end of an interview with bobsguide all about the tech
Despite the hype still rife around blockchain, quantum computing threatens to undermine distribution ledger capabilities before they've even had a chance to disrupt the financial services.
"And that's before we mention our quantum computing," says Jason Kelley, the IBM Global Head of Blockchain, at the very end of an interview with bobsguide all about the tech company's blockchain capabilities. For Kelley, quantum computing is instrumental to IBM's 'Network of Networks' vision for the future of the financial services.
Quantum computers take advantage of complex laws of nature. In particular, that of subatomic particles and their inherent ability to exist in more than one state at any time. The exploitation of quantum mechanics allows such computers to, unlike classical computers, eschew from encoding information in bits (each bit can take the value of either 1 or 0). They are able to, instead, operate in any superposition of such values, and, in turn, process much larger pieces of information at a relatively faster pace.
Which companies are currently developing quantum computing capabilities?
At the forefront of the development of quantum computers lies Alphabet Inc.’s Google, Intel, IBM and Microsoft.
Alphabet Inc.’s Google announced that the new Bristlecone quantum processor, with 72-qubits, can achieve ‘quantum supremacy’.
Intel, with its recently launched 49-qubit test chip, Tangle Lake, said that it ‘represents progress toward Intel’s goal of developing a complete-quantum computing system’
In May 2017, IBM Q, which was made accessible to researchers and developers in 2016, upgraded to have a 17-qubit processor, with Beta Access (IBM Q Experience) and SDK (Github).
Microsoft, in 2015, launched ‘Station Q’, a research lab that focuses on topological quantum computers. Whilst the progress of the station remained unknown for years, on the 25th of September 2017, Microsoft CEO Satya Nadella announced the launch of a new coding language and simulators for quantum computing.
Here are 7 areas within the financial services set to take full advantage of quantum computing: