To most of the public, the term “quantum computing” still evokes a connection to science fiction. And though the term may sound complicated to the average representative of the IT user base, the technology has numerous applications and has been considered for mass adoption by scientists the world over for years. Given the accelerating pace of technological progress, it is merely a matter of time before quantum, computing takes flight and attains the necessary level of evolution to become mainstream.
The level of adoption, or its impending attainment is easiest gauged by the statistical indicators of a specific industry. If quantum computing is to be considered, the industry was valued at $507.1 million in 2019. Experts from the McKinsey consulting company estimate that the quantum computing industry may exceed $65 billion by 2030, and reach an unprecedented $1 trillion by 2035 according.
Tech giants like IBM, Google, Honeywell and many others are in for the race to be the first to implement quantum computing on a massive scale, and the race is a cutthroat one. There is no clear indication as to which of the giants is taking the lead in the race, but recently, North Carolina-based conglomerate Honeywell made a bold move by announcing that its newest quantum computer has reached a quantum volume of 64. The landmark achievement means that the announced machine is twice as powerful as quantum computers operated by rivals IBM and Google.
During its first release in March of 2020, Honeywell showcased its device with a declaration that it is “twice as powerful as the next alternative in the industry”. “That means we are closer to industries leveraging our solutions to solve computational problems that are impractical to solve with traditional computers,” the company highlighted in its statement.
The phenomenal speeds of computing that quantum is best known for are what Honeywell has understated in its development, marking a turning point for both the quantum computing industry and other industries as well that can benefit from the advantages the technology can offer. With the fast-paced progression of the development of quantum computing, science fiction is rapidly becoming science fact.
And while the giants are bickering and squabbling over the minor details that can give them a competitive edge in the race for the crown of quantum computing dominance, smaller companies are racing in parallel to reach the pedestal of success. One of the first minor companies to showcase real-life use cases for the technology is QubitTech that has demonstrated application of quantum computing in asset management. The combination of science and business has allowed the company to create a value offering for clients that can be considered a financially viable and useful product.
QubitTech is a company founded by a group of independent experts in algorithmic and traditional asset management. The company’s mission, as its charter states, is to provide users with an effective way to use cryptocurrency assets based on the use of quantum computing. QubitTech CEO Greg Limon, also known as a co-founder and shareholder of Toronto-based DigiMax Global is known to have conducted two successful IPOs and participated in numerous venture projects with over $2 billion funds raised. His market expertise is second to none, as he has personally raised over $300 million for a series of successful startups that have grown to become global names.
The quintessence of the use of quantum technology in the products offered by QubitTech resides in the ability to solve problems associated with market data that traditional analysis techniques are incapable of effectively coping with. The QubitTech platform makes use of quantum technologies that were initially fielded by IBM and offered a unique set of tools based on machine learning methods, quantum algorithms, and quantum neural networks.
The use of quantum computing alone is insufficient to produce results without being applied for a specific goal. Without fueling a certain construct, quantum computing’s energy and data processing capabilities would be channeled into nowhere and would, in essence, be in vain. QubitTech channels quantum computing into its neural network, which is responsible for generating quantitative market data, while the quantum algorithms process quantitative data and significantly reduce the time it takes to process raw data into information that is accurate enough to be successfully used in asset management operations.
Continuous improvements and testing have allowed the algorithmic systems used by QubitTech to advance into more sophisticated areas of application and offer their users a host of adjustable settings for achieving better risk to reward ratios in financial operations.
Being a modern company that is striving to be on par with the best in the business and showcase an image that would attract clients with its corporate sheen and luster, QubitTech has a clearly defined internal structure with dedicated workgroups for separate departments. The transparent and streamlined approach to communication with clients that QubitTech has adopted allows it to cater to its audience and successfully achieve set goals without sacrificing resources in the process.
Apart from being a true Fintech company in the business meaning of the word and having a healthy mix of experts on the team from financial, consulting, investment banking and other areas, QubitTech designs its own software solutions using internal resources. Such a self-sufficient approach allows the company to ensure maximum effectiveness in terms of market data analysis and management of algorithmic trading systems through the application of AI, BigData, Machine Learning and many other cutting-edge technologies.
The technological products offered by QubitTech give users the ability to select from a variety of balanced strategies based on smart diversification achieved by the use of algorithmic and traditional methods that are applied on the Bitfinex and Binance exchange platforms. More traditional approaches are also available for clients considering their strategies conservative. The user approach is what allows QubitTech to stand out and cater to a broader audience as the company offers both digital and corporate licenses with monthly bonuses.
Trading robots have been around for almost two decades, but QubitTech took their application a step beyond the traditional and developed ‘trend’ and ‘flat’ systems that users can connect via API to the popular Binance or Bitfinex platforms for complete automation of operations. The constructs have been proven to deliver up to 7% monthly yields – a promising result for any trader familiar with the capabilities of trading robots offered by market competitors. The simultaneous use of several strategies has been proven to deliver more promising results and QubitTech delivers.
Apart from trading bots and quantum computing constructs, QubitTech offers a host of other products as well, underscoring the platform’s title as a full-fledged ecosystem of interconnected applications. Among the products is the P2P platform CryptoLocal is a separate service offered by QubitTech for buying and selling cryptocurrencies between users. Another product is the DoubleSpin gaming service, which allows users to bet on sports or play online games. The QPHONE service is a separate application designed for secure communication and personal data storage, which is provided as part of a corporate interaction package only after approval from the company’s internal security department. Another useful add-on service is the QubitTech Academy, which acts as an automated learning platform giving users of any level of knowledge access to detailed information about the products and services offered by QbuitTech. Lastly, QubitTech is preparing to launch an application for Android and iOS to make its product line truly on-the-go as an all-in-one solution for a broad range of users.
Other services and products that QubitTech plans to release in 2021 include a marketplace, a dedicated gaming platform, a venture fund, and an accelerator powered by the efforts of the project community.
The company has been making headway in its global expansion and is already represented in 13 countries with 150,000 active users, thousands more signing up weekly. Such attraction to the service can be attributed to the company’s BaseCamp program, which was specifically launched for active partners of the platform and saw three real-life events in Turkey and Mexico. Another four events are planned to be hosted in the near future with Africa, Italy, Brazil and Peru being the selected venues. Other hotspots for the BaseCamp program in the future will be launched in China, Malaysia and other regions.
The merger of quantum computing and the cryptocurrency industry may be a novel practice, but time has proven that advanced technologies often benefit each other. And while the two industries seem to be developed separately, some companies like QubitTech are taking leaps of faith and technological development, showing audiences what the benefits of conjoined efforts can yield.
(Syndicated press content is neither written, edited or endorsed by ED Times)
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