Quantum Blockchain Techn... Share Discussion Threads

[knigel] 18/8/2021 08:06

Wonder which account our new troll (set up 5 August) used to be?

[karmapolice] 18/8/2021 08:05

Makes very interesting reading that RNS.

Very interesting indeed.

[zydecoco] 18/8/2021 08:03

, or not 2p? That is the question.

[roberts1975] 18/8/2021 08:03

Still over priced garbage

[cahus] 18/8/2021 07:59

At last an update and the company is making progress in its R&D

[buffskins] 18/8/2021 07:46

jog on you idiot

[karmapolice] 18/8/2021 07:45

Explains options at 5 and 10p if they have achieved all this in such a short period of 4 months.

[flc] 18/8/2021 07:43

They have achieved quite a lot in a little amount of time and as you say, clearly setting out their stall for a disruptive approach to mining. Early patent filing also a good thing. Could get exciting.

[7rademark] 18/8/2021 07:40

Quantum computing is waffle, lol . Its the future, it will cure diseases, solve climate problems, and operate devices with advanced security and yes quickly mine ccI wouldn't write off this tiny company and its certainly worth a punt at these levels.

[broomrigg] 18/8/2021 07:39

Great announcement....patience will be rewarded everyone ;-)

[karmapolice] 18/8/2021 07:37

It’s very clearly signposting the next steps and has updated the market as to their progress, and even goes as far as to explain why they have chosen not to use the existing mining rigs, funny really as I suggested similar reasons yesterday and met with ridicule, but it seems that I was in fact spot on.

[roberts1975] 18/8/2021 07:33

It's waffle and a long way away to making any meaningful progress

[knigel] 18/8/2021 07:18

Don’t worry yourself Robert - it’s beyond your understanding :-)

[roberts1975] 18/8/2021 07:14

What a load of waffle

[knigel] 18/8/2021 07:12

Oh look, a RNS ... :-)))

[karmapolice] 18/8/2021 07:05

Quantum Blockchain Technologies Plc Crypto Mining R&D Project Update

Source: UK Regulatory (RNS & others)

TIDMQBT

18 August 2021

Quantum Blockchain Technologies Plc
("QBT" or "the Company")

Crypto Mining R&D Project Update

The board of Quantum Blockchain Technologies (AIM: QBT) is pleased to update
the market on its Crypto Mining Research and Development ("R&D") project, which
in the first instance will be used for the deployment of a proprietary
technology for more efficient cryptocurrency mining.

The primary goal of the project is to develop Bitcoin mining tools and
techniques which will significantly outperform existing mining equipment, both
in speed and energy consumption. While it is understood that this is extremely
ambitious, the radically advanced technologies being utilised; quantum
computing, Artifical Intelligence and Deep Learning, amongst others, renders
the goal achievable.

For this purpose, QBT has assembled a team of 13 sector experts, which is now
fully operational. The members of the team have been selected from across the
UK and Italy, and includes highly skilled professionals, Ph.D students and
university professors, with expertise in, Quantum Computing, Machine Learning,
Cryptography and Algorithms Optimisation Theory. QBT has entered into formal
agreements with various university departments to retain the services of the
new team. Any intellectual property and patents developed during the R&D
project will belong exclusively to QBT.

A number of working groups have been formed to address the key technologies at
the core of QBT's crypto mining strategy. These are:

* Quantum Computing

* Cryptographic Optimisation

* Deep Learning and Artificial Intelligence ("AI")

* FPGA / ASIC Design

* Algebraic and Boolean Equation Reduction

* Very Large Big Data

* High performance computing architectures

As previously stated in the RNS of 2 June 2021, the Company has secured the
services of an expert specialising in cryptocurrency mining blockchain
optimisations.

The development of only half of the optimisations previously created by the
expert, has proved a 9.56% speed improvement using a commercial Graphic
Processing Unit (GPU), compared to the standard Bitcoin mining algorithm on the
same GPU. While it was never intended to use a GPU processor for Bitcoin
mining, it is providing invaluable quantitative feedback on the optimisation
techniques discovered by the in-house expert.

A second and more impactful set of optimisations for the Bitcoin mining
algorithm have now been identified by the expert, which will be filed as an
international patent within weeks. This is ideally the first of several patents
the Company plans to file in the coming months. More details on the efficiency
in running the Bitcoin mining algorithm with this new set of optimisations,
will be released shortly after filing the patent.

The Field Progammable Gate Arrays ("FPGA") and Application Specific Integrated
Circuit ("ASIC") expert retained by the Company will start implementing the
first set of optimisations on FPGA this month and early completed versions of
the FPGA are due by the end of October 2021, while the optimisations covered by
the patent being filed are due by December 2021. Based on the performance
achieved by the FPGA chip, it may be decided to use it as the Company's first
mining engine. ASIC development work will start in parallel in October 2021.

The design of the new IT infrastructure, which includes a 128 core Machine
Learning workstation and an initial one Petabyte memory expandable unit, to
host the proprietary enriched Bitcoin mining "Very Large Big Data", is now
complete and its deployment into a data centre in Northern Italy will, due to
favourable tax benefits on R&D, happen in September 2021. To date, all R&D has
been completed using cloud resources.

At the beginning of August 2021, the first Deep-Learning optimisation of the
Bitcoin mining algorithm was autonomously generated by one of QBT's AI systems.
This optimisation is identical to one of the phase-one optimisations created by
the expert, but generated independently. This early result strongly supports
the strategy adopted by the Company to invest in the heavy use of Deep
Learning.

Work on the D-Wave quantum computer has begun by QBT's quantum team. While an
implementation of the core Bitcoin mining algorithm has already been developed,
programming of this quantum processor requires a totally different approach to
traditional software design. This is due to the specific approach to quantum
computing of D-Wave's quantum processor, namely, quantum annealing. However,
the efforts represented by the very steep initial learning curve, will
hopefully, be rewarded by the significantly improved performance expected to be
delivered by D-Wave's quantum processor. Updates on progress achieved will be
released in due course.

Francesco Gardin, CEO and Executive Chairman of QBT, commented, "Assembling a
new team and taking this project to operational status within four months has
been a difficult challenge and has required a tremendous effort. However,
thanks to our exceptional team, we have been able to achieve this.

"Over the past few months we have resisted the temptation to mine for
cryptocurrencies using 'standard' methods as it is not part of our current
strategy. QBT is looking to be a highly disruptive influence in the circa £75
billion* market of approximately 2.21m Bitcoins yet to be mined and we believe
that the past few months of intensive R&D will be crucial to achieving this.
Our strategy for Bitcoin mining is knowledge intensive, rather than capital
intensive, based on the unique, combined interaction between our human experts
and our innovative AI systems.

"I would like to thank our shareholders for their patience and state that our
roadmap is clearly defined and we will pursue it with determination."

* at the current market price of US$46,400 per Bitcoin

[bulgarian] 17/8/2021 18:52

"Spray1 0 1 0
Bulgarian, there is no point trying to post an indifferent post, Advfn hold all the posts you have edited so can be used for deformation and liable as posted earlier etc.."

Liable and deformation?

Stick to cut & paste son.

Preferably someone elses, who can spell it and articulate it.

All eyes on the next blockbuster RNS update.

[spary1] 17/8/2021 18:39

Bulgarian, there is no point trying to post an indifferent post, Advfn hold all the posts you have edited so can be used for deformation and liable as posted earlier etc

[bulgarian] 17/8/2021 17:41

of course what the market is looking towards are the first deliverables / development updates from a leader in the quantum blockchain sector.

What remains to be seen is whether the expectations that have been suggested to the market in previous RNS are successfully delivered, on time and to budget.

That should become clearer shortly.

[karmapolice] 17/8/2021 16:31

Oh well there’s a shame.

More bants tomorrow assuredly all genuine holders!

Hilarious.

[karmapolice] 17/8/2021 16:24

I assume by “today” they mean GMT and during market hours, so they have 6 minutes to post 6 posts.

[steve8888] 17/8/2021 12:54

The said funding will hopefully come from a successful court ruling in our favour.
however not guaranteed as we have been let down several times.
fingers crossed.