QRL Weekly: Featuring the QRL Show live episode, 2024-June-04

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Quantum Breakthrough From Microsoft Could Shorten Technology’s Go-to-Market Timeline

Microsoft and Quantinuum have achieved a significant quantum computing milestone by running over 14,000 error-free experiments using advanced qubit-virtualization and ion-trap hardware, marking progress towards reliable commercial quantum computers that could revolutionize payments and financial services.

Microsoft Quantinuum

3rd April 2024

Microsoft and Quantinuum have announced a significant advancement in quantum computing, achieving error-free calculations across over 14,000 experiments using Quantinuum’s ion-trap hardware and Microsoft’s qubit-virtualization system. This milestone marks the transition from Level 1 Foundational to Level 2 Resilient quantum computing, suggesting that commercial adoption of reliable quantum computers is drawing nearer. Quantum computing promises transformative applications in payments and financial services by enhancing security, optimizing transaction processing, and improving fraud detection. The breakthrough addresses the challenge of “noise” in quantum calculations, moving closer to harnessing the full potential of quantum mechanics for complex problem-solving.

As quantum computing progresses, concerns about cybersecurity grow, particularly with the looming “Q-Day” when quantum computers could break current encryption protocols. Experts warn that bad actors are already storing encrypted data, anticipating future decryption capabilities. To counteract this threat, companies like Apple are upgrading encryption systems, and there is a push towards quantum encryption algorithms such as Quantum Key Distribution (QKD) to ensure unbreakable security. These advancements highlight the dual role of quantum computing in both posing risks and providing solutions to enhance the confidentiality and integrity of financial transactions in the digital era.~

3rd April 2024