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
-ends-
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