Quantum Blockchain Technologies Plc - Working with D-Wave Systems
PR Newswire
London, July 6
6 July 2021
Quantum Blockchain Technologies Plc
("QBT" or "the Company")
QBT To Use D-Wave's Quantum Technologies In Cryptography Algorithms
Quantum Blockchain Technologies Plc (AIM: QBT), the UK Quantum Computing Cryptography and Artificial Intelligence research and development ("R&D") and investment company, listed on the London Stock Exchange's AIM market, announces it will use the Leap quantum cloud service from D-Wave Systems Inc., the leader in quantum computing systems, software and services, to develop cryptography algorithms for crypto currency mining.
QBT will now be able to access D-Wave's quantum-classical hybrid solvers, which leverage both quantum solutions and best-in-class classical algorithms to run large-scale business-critical problems. With real-time access to quantum computers via the cloud, QBT aims to transform classic computing cryptography algorithms, such as the one used for Bitcoin mining, in quantum computations, or quantum-classic hybrid computations.
QBT's quantum computing team is working on the Leap platform with the goal to exploit the speed of quantum computations, which can be, under the appropriate conditions, several order of magnitudes faster than a classic computer.
D-Wave's new quantum computer, Advantage, includes more than 5,000 qubits and 15-way qubit connectivity. More qubits and richer connectivity provide programmers and businesses access to a larger, denser, and more powerful graph for building commercial quantum applications.
The hybrid solver services in the Leap platform combine the power of Advantage with classical resources, enabling businesses and developers to build, run and solve complex, large-scale business-critical problems with up to 1 million variables.
QBT has already created a team, which has started working on the conversion of optimised cryptographic algorithms, in order to make them suitable to run on D-Wave's quantum system and quantum hybrid solvers.
Francesco Gardin, CEO and Executive Chairman of QBT, commented, "QBT is delighted to work with the D-Wave team, which we believe will provide us with an alternative approach to the computation of cryptographic algorithms. We have selected what we believe is a major international consolidated player in the quantum computing market and we look forward to working with them during the first phase of the project. In particular, we are excited to have the benefit of utilising D-Wave's Advantage quantum processor, with more than 5,000 qubits where we intend to develop our optimised cryptographic algorithms."
Alan Baratz, CEO of D-Wave Systems Inc., commented, "Bringing quantum computing to the world requires a robust ecosystem of developers and researchers, as well as forward-thinking businesses that are committed to building practical and applied quantum computing applications. QBT is a leader in developing new and disruptive approaches to blockchain technology - an important innovation with the power to change the world."
For more information on D-Wave, please go to: https://www.dwavesys.com/quantum-computing
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For further information please contact:
| Quantum Blockchain Technologies Plc Francesco Gardin, CEO and Executive Chairman | +39 335 296573 |
SP Angel Corporate Finance (Nominated Adviser & Broker) Jeff Keating | +44 (0)20 3470 0470 |
Leander (Financial PR) Christian Taylor-Wilkinson | +44 (0) 7795 168 157 |
About Quantum Blockchain Technologies (AIM: QBT)
Quantum's R&D focus is on Cryptography and AI using Quantum Computing, bringing together the most advanced classic computing technology, along with quantum computing and AI deep learning, to develop, among other things, a new and disruptive approach to blockchain technology, which includes cryptocurrencies mining and other advanced blockchain applications.
The Company has set up a team of international experts in the above sectors, as well as a computing infrastructure to support the development of the most advanced innovative solution based on the front-line IT technologies.
For further information, please visit, www.quantumblockchaintechnologies.co.uk
