Quantum Blockchain Technologies Plc Working with D-Wave Systems

 
TIDMQBT 
 
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 LeapT 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          [phone] 
 
 
SP Angel Corporate Finance 
(Nominated Adviser & Broker)                          [phone] 
Jeff Keating 
 
 
Leander (Financial PR)                                [phone] 
Christian Taylor-Wilkinson 
 
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 
 
 
 
END 
 
 

(END) Dow Jones Newswires

July 06, 2021 02:00 ET (06:00 GMT)