Quantum News Briefs: January 2, 2024: D-Wave Quantum Inc. Demonstrates Powerful Quantum-Hybrid Applications Through New Customer Success Stories; Why These 3 Quantum Computing Stocks Should Be on Your Radar in 2024; Will quantum computing platforms be able to decrypt the private keys of a Bitcoin wallet? and MORE!
Quantum News Briefs: January 2, 2024:
D-Wave Quantum Inc. Demonstrates Powerful Quantum-Hybrid Applications Through New Customer Success Stories
D-Wave Quantum, a leader in the quantum computing field, recently showcased its practical applications across various industries through its systems, software, and services. Notably, their technology is being utilized in diverse sectors for complex computational problems, demonstrating significant improvements in efficiency and effectiveness. Key examples include the Pattison Food Group, which achieved an 80% time reduction in e-commerce driver delivery scheduling; Satispay, an Italian fintech company, using D-Wave’s technology to enhance customer rewards programs with a 50% improvement; and Davidson Technologies, which reported a 15-42% increase in utilization for a radar scheduling application in defense. Additionally, Momentum Worldwide employs D-Wave’s quantum technology to optimize promotional tour routes, significantly reducing operational costs. In collaboration with QuantumBasel, VINCI Energies is using a quantum-hybrid application for HVAC system layout in building design, leading to lower costs and more efficient outcomes. These applications, from logistics to AI and defense, underscore D-Wave’s commitment to delivering real-world quantum computing solutions.
In Other News: Investor Place article: “Why These 3 Quantum Computing Stocks Should Be on Your Radar in 2024”
A recent Investor Place article highlighted three quantum computing stocks that are emerging as key players in this rapidly evolving industry: IonQ (IONQ), Quantum Computing (QUBT), and Microsoft (MSFT). IonQ, a pure-play quantum computing company, is making significant strides in the industry, already exceeding its goal of $100 million in cumulative bookings and reporting substantial revenue growth. Its focus on quantum computing and smaller market cap presents a promising investment opportunity. Quantum Computing, differentiated by its offering of quantum processing units and cloud-based software, is also gaining traction with a high gross margin and expanded product releases, earning a “Strong Buy” rating from Wall Street. Microsoft, a veteran in the tech industry, is developing a comprehensive quantum computing ecosystem with its Q# framework, attracting thousands of developers. Its investment in research and development for a more stable quantum system positions it as a strong contender in the quantum computing space. These companies are set to disrupt various industries, from healthcare to economic research, with the unparalleled processing power of quantum computing.
In Other News: Cryptonomist article: “Will quantum computing platforms be able to decrypt the private keys of a Bitcoin wallet?”
A recent Cryptonomist article explores the impact of quantum computing platforms on Bitcoin wallet security. Quantum computing, still in its early stages, holds the potential to solve complex problems beyond the capabilities of classical computers. These platforms are gaining traction in various sectors, including finance and pharmaceuticals, with companies like Google and IBM leading the charge. However, experts express concerns over their ability to “brute-force” Bitcoin wallet seed phrases, potentially compromising the cryptographic ecosystem of Bitcoin. The article highlights the fears regarding the vulnerability of the current Bitcoin Improvement Proposal 39 (BIP39) standard, protected by the HMAC SHA-512 hash function, against quantum computing attacks. Despite these worries, the article notes that the threat remains hypothetical at this stage, with quantum computing still in its developmental phase and lacking the speed to efficiently crack high-entropy codes like those in 24-word seed Bitcoin wallets. The piece concludes by emphasizing the importance of evolving cryptographic security techniques to safeguard against such future threats while also acknowledging the development of software that can counter brute-force attacks from quantum computers.
In Other News: Motley Fool article: “Ignore IonQ: Here Are 2 Better Stocks”
A recent Motley Fool article discusses the investment potential of three companies in the technology sector. IonQ, a quantum computing company, has seen its stock soar by 324% in the past year. Still, the article cautions that this may not accurately reflect its long-term market value due to overvaluation and stiff competition. SoundHound AI, known for its voice-control solutions, particularly in the automotive industry, is highlighted as an undervalued company with significant growth prospects. The company’s strong client base and potential for expansion in various markets make it an attractive investment option. Lastly, Fiverr International, a platform for freelance services, is presented as a solid investment choice despite recent market slumps. Its strong fundamentals, consistent performance exceeding earnings estimates, and potential in the growing gig economy market are emphasized. The article suggests that Fiverr and SoundHound AI might be better investment options than IonQ, especially considering their current market valuations and growth potential.
Kenna Hughes-Castleberry is the Managing Editor at Inside Quantum Technology and the Science Communicator at JILA (a partnership between the University of Colorado Boulder and NIST). Her writing beats include deep tech, quantum computing, and AI. Her work has been featured in Scientific American, Discover Magazine, New Scientist, Ars Technica, and more.