{"id":431782,"date":"2022-04-14T23:15:00","date_gmt":"2022-04-14T20:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/quantum-computing-firm-simulates-adoption-of-crypto-payments\/"},"modified":"2022-04-14T23:15:00","modified_gmt":"2022-04-14T20:15:00","slug":"quantum-computing-firm-simulates-adoption-of-crypto-payments","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/quantum-computing-firm-simulates-adoption-of-crypto-payments\/","title":{"rendered":"# Quantum computing firm simulates adoption of crypto payments"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2675c18f8cf\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2675c18f8cf\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/quantum-computing-firm-simulates-adoption-of-crypto-payments\/#%E2%80%9D_Quantum_computing_firm_simulates_adoption_of_crypto_payments_%E2%80%9C\" >&#8221; Quantum computing firm simulates adoption of crypto payments &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Quantum_computing_firm_simulates_adoption_of_crypto_payments_%E2%80%9C\"><\/span>&#8221; Quantum computing firm simulates adoption of crypto payments &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvN2M2N2JjMzAtMWE3Zi00YmVjLWFmOWMtNGEyM2JmNTJlZDRhLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Multiverse Computing, a quantum computing firm with offices in Canada and Spain, has partnered with the Bank of Canada to run simulations on how the adoption of cryptocurrency might proceed as a payment method.<\/p>\n<p>In a Thursday announcement, Multiverse Computing <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.multiversecomputing.com\/news\/bank-of-canada-and-multiverse-computing-complete-preliminary-quantum-simulation-of-cryptocurrency-market\/\">said<\/a> it used its equipment as part of a proof-of-concept project with the Bank of Canada to generate examples of how non-financial firms may end up adopting crypto. The quantum simulations used scenarios with 8 to 10 financial networks with more than 1.2 octillion possible configurations. <\/p>\n<p>According to the firm, it was \u201cimportant to develop a deep understanding of interactions that can take place in payments networks\u201d to understand how companies may adopt different forms of payments. The simulations suggested crypto payments may end up existing side by side with bank transfers and \u201ccash-like instruments\u201d for certain industries, with each\u2019s market share dependent on economic costs and how financial institutions respond to greater adoption.<\/p>\n<p>\u201cWe wanted to test the power of quantum computing on a research case that is hard to solve using classical computing techniques,\u201d said the Bank of Canada\u2019s director of data <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/sciencee\/\" data-internallinksmanager029f6b8e52c=\"5\" title=\"Science\" target=\"_blank\" rel=\"noopener\">science<\/a>, Maryam Haghighi. \u201cThis collaboration helped us learn more about how quantum computing can provide new insights into economic problems by carrying out complex simulations on quantum hardware.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Our work on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/cryptocurrency?src=hash&amp;ref_src=twsrc%5Etfw\">#cryptocurrency<\/a> networks with <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/bankofcanada?ref_src=twsrc%5Etfw\">@bankofcanada<\/a> is finally out in the open!<\/p>\n<p>Huge congratulations to the team for their phenomenal work on this project<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/quantum?src=hash&amp;ref_src=twsrc%5Etfw\">#quantum<\/a> for the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/economy?src=hash&amp;ref_src=twsrc%5Etfw\">#economy<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/FrH678gKRm\">https:\/\/t.co\/FrH678gKRm<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/8i84oZmKb8\">pic.twitter.com\/8i84oZmKb8<\/a><\/p>\n<p>\u2014 Sam Mugel (@SamMugel) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SamMugel\/status\/1514595086969016320?ref_src=twsrc%5Etfw\">April 14, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<strong><em>Related: <\/em><\/strong><strong><em>Quantum computers are many years away from cracking crypto: MIT Tech Review<\/em><\/strong><\/p>\n<p>With advancements in quantum computing often come many suggesting that the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> could be used to \u201ccrack\u201d the security of Bitcoin (BTC) or other blockchains by breaking the underlying cryptography. In February, banking giant JPMorgan Chase released research on a blockchain network resistant to quantum computing attacks. However, at least one expert in MIT Technology Review argued in March that the technology was years away from these <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications.<\/p>\n<p><em>Cointelegraph reached out to Multiverse Consulting but did not receive a response at the time of publication.<\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/quantum-computing-firm-simulates-adoption-of-crypto-payments\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Quantum computing firm simulates adoption of crypto payments &#8220; Multiverse Computing, a quantum computing firm with offices in Canada and Spain, has partnered with the Bank of Canada to run simulations on how the adoption of cryptocurrency might proceed as a payment method. In a Thursday announcement, Multiverse Computing said it used its equipment&#8230;<\/p>\n","protected":false},"author":1,"featured_media":431783,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvN2M2N2JjMzAtMWE3Zi00YmVjLWFmOWMtNGEyM2JmNTJlZDRhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75934,74863,120488,74355,117,22974],"class_list":["post-431782","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bank-of-canada","tag-cryptocurrencies","tag-quantum-computing","tag-adoption","tag-business","tag-canada"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/431782","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=431782"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/431782\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/431783"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=431782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=431782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=431782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}