Will Quantum Kill Crypto? What You Need to Know
Published: 2024-10-16
Status:
Available
|
Analyzed
Published: 2024-10-16
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
60% of respondents believe quantum computing will take at least 6 more years to surpass normal computing. 38% believe it will happen within 5 years, and 2% within 12 months.
"And finally the survey then asks the respondents what they envision would become of some of the more unconventional applications of quantum Computing technology... 60% answered that it would be at least another 6 years meanwhile around 38% think it will be within the next 5 years with 2% of respondents thinking it could happen within the next 12 months"
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Quantum computing's computational power will render all current encryption methods obsolete.
"Quantum Computing will render all current forms of encryption useless given the sheer scale of computing power that will be available"
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Algorand is developing quantum-resistant encryption.
"some crypto projects like alaran for instance are already working on Quantum resistant encryption"
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Projects introducing quantum-resistant technology, including Algorand, are expected to become a significant theme in the cryptocurrency space.
"there are a number of blockchainbased projects as well as algorand that have already introduced Quantum resistant Tech and we think this could be a big crypto narrative in the near future"
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Quantum computing's processing power will dramatically enhance gaming graphics, improving VR experiences and gameplay.
"one of the answers was the development of the gaming industry that's because the processing capabilities of quantum computers would allow Graphics to be boosted dramatically which could enhance VR experiences and gameplay mechanics"
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Quantum computing is envisioned to have potential applications in AI and robotics.
"one of the more obvious answers given was the potential use with AI and Robotics"
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Quantum computing is expected to be used in medical diagnostics.
"Other unconventional use cases include creating neural networks running medical Diagnostics"
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Quantum computing will be utilized to optimize agriculture and energy distribution.
"and quantum's use in optimizing Agriculture and energy distribution"
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Over 50% of survey respondents believe quantum computing development is progressing faster than anticipated.
"according to the survey more than 50% say that progress is happening quicker than expected"
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Organizations are investing in quantum computing primarily to explore new opportunities and prepare for future applications.
"the most common investment drivers were exploring New Opportunities and preparing for future Quantum applications"
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The most significant technical challenges facing quantum computing are scalability (33%), error correction and fault tolerance (31%), hardware performance (20%), and quantum algorithm development (9%).
"scalability at 33%... error correction and fault tolerance is the largest technical challenge... Hardware performance whereas 9% say it's quantum algorithm development"
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Hardware development is seen as the area most in need of significant investment to advance the quantum computing industry.
"Hardware development got the highest amount of votes by a wide margin with well over 700"
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Over 50% of respondents find quantum computing progress to be faster than expected, 32% find it as anticipated, and 3% find it slower.
"more than 50% say that progress is happening quicker than expected while 32% say that progress is at a pace they anticipated 133% % said that things were moving slower than they expected"
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Approximately one-third of organizations feel they are likely to be caught off guard by the pace of quantum computing development, with another 11% unsure.
"about a third of respondents admitted to the likelihood of being caught out and a further 11% said they simply didn't know"
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64% of organizations expressed concern regarding insufficient cloud storage for quantum computing data, likely due to a lack of available Cloud GPU resources.
"a whopping 64% highlighted this as a concern"
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The preferred methods for quantum data storage are public cloud services (26%), on-site solutions (20%), private cloud (15%), and a combination of cloud and on-site (22%).
"the preferred approach seems to the use of a public cloud service which got a 26% share of the vote 20% said they would prefer to use an on-site solution... 15% said they would prefer to use a private cloud and 22% said they would opt to use a combination"
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75% of respondents are more excited about the positive potential of quantum computing, while 17% are equally excited and concerned.
"75% of respondents said they were more excited about the potential of quantum Computing to do good 177% said they were equally excited and concerned"
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The top ethical considerations for advancing quantum computing are privacy and security (67%), equity and access/environmental impact (46%), and impact on employment (27%).
"privacy and security emerged as the largest ethical consideration with 67% of votes 46% put equity in Access and quantum's environmental impact as the next biggest considerations and 27% said a consider a should also be the possible impact on employment and the job market"
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60% of respondents expect quantum computing to surpass normal computing in over 6 years, 38% within 5 years, and 2% within 12 months.
"60% answered that it would be at least another 6 years meanwhile around 38% think it will be within the next 5 years with 2% of respondents thinking it could happen within the next 12 months"
Pending