This quarterly report on Form 10-Q and other reports filed Quantum Computing,Inc. (the "Company" "we", "our", and "us") from time to time with the U.S.Securities and Exchange Commission (the "SEC") contain or may containforward-looking statements and information that are based upon beliefs of, andinformation currently available to, the Company's management as well asestimates and assumptions made by Company's management. Readers are cautionednot to place undue reliance on these forward-looking statements, which are onlypredictions and speak only as of the date hereof. When used in the filings, thewords "anticipate," "believe," "estimate," "expect," "future," "intend," "plan,"or the negative of these terms and similar expressions as they relate to theCompany or the Company's management identify forward-looking statements. Suchstatements reflect the current view of the Company with respect to future eventsand are subject to risks, uncertainties, assumptions, and other factors,including the risks contained in the "Risk Factors" section of the Company'sAnnual Report on Form 10-K for the fiscal year ended December 31, 2019, relatingto the Company's industry, the Company's operations and results of operations,and any businesses that the Company may acquire. Should one or more of theserisks or uncertainties materialize, or should the underlying assumptions proveincorrect, actual results may differ significantly from those anticipated,believed, estimated, expected, intended, or planned.Although the Company believes that the expectations reflected in theforward-looking statements are reasonable, the Company cannot guarantee futureresults, levels of activity, performance, or achievements. Except as required byapplicable law, including the securities laws of the United States, the Companydoes not intend to update any of the forward-looking statements to conform thesestatements to actual results.Our financial statements are prepared in accordance with accounting principlesgenerally accepted in the United States ("GAAP"). These accounting principlesrequire us to make certain estimates, judgments and assumptions. We believe thatthe estimates, judgments and assumptions upon which we rely are reasonable basedupon information available to us at the time that these estimates, judgments andassumptions are made. These estimates, judgments and assumptions can affect thereported amounts of assets and liabilities as of the date of the financialstatements as well as the reported amounts of revenues and expenses during theperiods presented. Our financial statements would be affected to the extentthere are material differences between these estimates and actual results. Inmany cases, the accounting treatment of a particular transaction is specificallydictated by GAAP and does not require management's judgment in its application.There are also areas in which management's judgment in selecting any availablealternative would not produce a materially different result. The followingdiscussion should be read in conjunction with our financial statements and notesthereto appearing elsewhere in this report.OverviewAt the present time, we are a development stage company with limitedoperations. The Company is currently developing "quantum ready" softwareapplications and solutions for companies that want to leverage the promise ofquantum computing. We believe the quantum computer holds the potential todisrupt several global industries. Independent of when quantum computingdelivers compelling performance advantage over classic computing, the softwaretools and applications to accelerate real-world problems must be developed todeliver quantum computing's full promise. We specialize in quantumcomputer-ready software application, analytics, and tools, with a mission todeliver differentiated performance using non-quantum processors in thenear-term.We are leveraging our collective expertise in finance, computing, mathematicsand physics to develop a suite of quantum software applications that may enableglobal industries to utilize quantum computers, quantum annealers and digitalsimulators to improve their processes, profitability, and security. We primarilyfocus on the quadratic unconstrained binary optimization (QUBO) formulation,which is equivalent to the Ising model implemented by hardware annealers, bothnon-quantum from Fujitsu and others and quantum from D-Wave Systems, and alsomappable to gate-model quantum processors. We have built a software stack thatmaps and optimizes problems in the QUBO form and then solves them powerfully oncloud-based processors. Our software is designed to be capable of running onboth classic computers and on annealers such as D-Wave's quantum processor. Weare also building applications and analytics that deliver the power of oursoftware stack to high-value discrete optimization problems posed by financial,bio/pharma, and cybersecurity analysts. The advantages our software delivers canbe faster time-to-solution to the same results, more-optimal solutions, ormultiple solutions. 19

Products and Products in Development

The Company is currently working on software products to address, communitydetection (analysis for pharmaceutical applications and epidemiology),optimization of job shop scheduling, logistics, and dynamic route optimizationfor transportation systems. The Company is continuing to seek out difficultproblems for which our technology may provide improvement over existingsolutions.

We are continuing to develop software to address two classes of financialoptimization problems: Asset allocation and Yield Curve Trades. For assetallocation, our target clients are the asset allocation departments of largefunds, who we envision using our application to improve their allocation ofcapital into various asset classes.

Three Months Ended June 30, 2020 vs. June 30, 2019

Gross margin for the three months ended June 30, 2020 was $0 as compared with $0for the comparable prior year period. There was no gross margin because theCompany has not yet commenced marketing and selling products or services.

Six Months Ended June 30, 2020 vs. June 30, 2019

Gross margin for the Six months ended June 30, 2020 was $0 as compared with $0for the comparable prior year period. There was no gross margin because theCompany has not yet commenced marketing and selling products or services.

Liquidity and Capital Resources

The following table summarizes total current assets, liabilities and workingcapital at June 30, 2020, compared to December 31, 2019:

Off Balance Sheet Arrangements

Critical Accounting Policies and Estimates

We have identified the accounting policies below as critical to our businessoperations and the understanding of our results of operations.

The Company's policy is to present bank balances under cash and cashequivalents, which at times, may exceed federally insured limits. The Companyhas not experienced any losses in such accounts.

Net loss per share is based on the weighted average number of common shares andcommon shares equivalents outstanding during the period.

Edgar Online, source Glimpses

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QUANTUM COMPUTING : Management's Discussion and Analysis of Financial Condition and Results of Operations, (form 10-Q) - marketscreener.com

DUBLIN--(BUSINESS WIRE)--The "Quantum Key Distribution: The Next Generation - A Ten-year Forecast and Revenue Assessment: 2020 to 2029" report has been added to ResearchAndMarkets.com's offering.

This report provides forecasts and analysis for key QKD industry developments. The author was the first industry analysis firm to predict that quantum security in mobile phones would become a significant revenue earner in the short-term. Phones using QRNGs were announced earlier this year and this report discusses how the mobile QRNG market will evolve.

There have been some big developments in the QKD space. In particular, the regulatory and financial framework for the development of a vibrant QKD business has matured. On the standardization and funding front, the ITU-T standardization is near complete while both the US and UK governments have announced major funding for large-scale quantum networks with QKD as a central component. And the QuantumCtek IPO may just be the beginning of the new public companies in this space.

The report contains forecasts of the hardware and service revenues from QKD in all the major end-user groups. It also profiles all the leading suppliers of QKD boxes and services. These profiles are designed to provide the reader of this report with an understanding of how the major players are creating QKD products and building marketing strategies for QKD as quantum computers become more ubiquitous.

Key Topics Covered:

Executive Summary

E.1 Key Developments Since our Last Report

E.2 Specific Signs that the Market for QKD is Growing

E.3 Evolution of QKD Technology and its Impact on the Market

E.3.1 Reach (Transmission Distance)

E.3.2 Speed (Key Exchange Rate)

E.3.3 Cost (Equipment)

E.4 Summary of Ten-year Forecasts of QKD Markets

E.4.1 Forecasts by End-user Segment

E.5 Five Firms to Watch Closely in the QKD Space

Chapter One: Introduction

1.1 Why QKD is a Growing Market Opportunity

1.2 Overview of QKD Technological Challenges

1.3 Goals and Scope of this Report

1.4 Methodology of this Report

1.5 Plan of this Report

Chapter Two: Technological Assessment

2.1 Setting the Scene: QKD in Cryptography-land

2.2 Why QKD: What Exactly does QKD Bring to the Cryptography Table?

2.3 PQC's Love-Hate Relationship with QKD

2.4 QKD's Technological Challenges

2.5 QKD Transmission Infrastructure

2.6 Chip-based QKD

2.7 QKD Standardization: Together we are Stronger

2.8 Key Takeaways from this Chapter

Chapter Three: QKD Markets - Established and Emerging

3.1 QKD Markets: A Quantum Opportunity Being Driven by Quantum Threats

3.2 Government and Military Markets - Where it all Began

3.3 Civilian Markets for QKD

3.4 Key Points from this Chapter

Chapter Four: Ten-year Forecasts of QKD Markets

4.1 Forecasting Methodology

4.2 Changes in Forecast Since Our Last Report

4.2.1 The Impact of COVID-19

4.2.2 Reduction in Satellite Penetration

4.2.3 Faster Reduction in Pricing

4.2.4 Bigger Role for China?

4.2 Forecast by End-User Type

4.3 Forecast by Type of QKD Infrastructure: Terrestrial or Satellite

4.4 Forecast of Key QKD-related Equipment and Components

4.5 Forecast by Geography/Location of End Users

Chapter Five: Profiles of QKD Companies

5.1 Approach to Profiling

5.2 ABB (Switzerland/Sweden)

5.3 Cambridge Quantum Computing (United Kingdom)

5.4 ID Quantique (Switzerland)

5.5 KETS Quantum Security (United Kingdom)

5.6 MagiQ Technologies (United States)

5.7 Nokia (Finland)

5.8 QuantumCtek (China)

5.9 Quantum Xchange (United States)

5.10 Qubitekk (United States)

5.11 QuintessenceLabs (Australia)

5.12 SK Telecom (Korea)

5.13 Toshiba (Japan)

For more information about this report visit https://www.researchandmarkets.com/r/jp7dzd

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Quantum Key Distribution: The Next Generation - A Ten-year Forecast and Revenue Assessment 2020-2029 - ResearchAndMarkets.com - Business Wire

KITCHENER, Ontario (PRWEB) August 10, 2020

evolutionQ was awarded a Space Technology Development Program (STDP) contribution by the CSA to develop solutions to advance satellite-based secure quantum communication services and tools to address challenges related to satellite-based Quantum Key Distribution (QKD) networks.

Cryptography underpins the secure communications required for the digital, network-based social and financial interactions that are at the heart of modern society and the economy, including banking, the sharing of confidential healthcare data, and the exchange of sensitive information between governmental institutions. However, rapid advancements in quantum computing threaten current encryption methods because quantum computers, when built, will be able to break commonly used cybersecurity systems. It is important to develop tools, like QKD, that will be resistant to such quantum threats.

QKD technologies leverage the fundamental laws of quantum physics to distribute confidential cryptographic keys between two users, while detecting the attempts of malicious third-parties to intercept such keys. Unfortunately, typical terrestrial methods to establish such direct secure connection between locations are limited to relatively short distances, of the order of at most 200 km. This is clearly a challenge for a country as vast as Canada. Satellite-based QKD will enable secure, reliable, and economical key-sharing across Canada.

A powerful quantum computer has the power to decimate todays cryptography. As key quantum computing milestones are achieved, the need for quantum-safe solutions intensifies, said Dr. Michele Mosca, President and CEO of evolutionQ. Robust cryptography is absolutely necessary for our safety and the proper functioning of our digital economy. We must adopt quantum-safe solutions to secure and safeguard our critical infrastructures, financial services and intellectual property."

Quantum Key Distribution is an important tool in addressing the quantum threat. QKD uses the fundamental laws of physics to protect information shared between two parties. CTO of evolutionQ, Dr. Norbert Ltkenhaus remarked. Satellite-based QKD is essential for a vast country like Canada and will help secure communications from coast to coast. evolutionQ is poised to utilize its expertise and develop solutions to help establish satellite QKD, and to integrate it with existing terrestrial solutions.

evolutionQ will develop tools to address the challenges unique to satellite-based QKD. This will be accomplished by modelling the role and performance of QKD satellites, and by designing optimization algorithms to integrate QKD satellites with terrestrial networks. The software solutions will be designed to be integrated with existing and planned satellite hardware. The project is expected to last 24 months.

The initiative will also help Canada safeguard sovereignty in the quantum age and strengthen Canadian leadership in the space and quantum sectors. The initiative aligns with the new Space Strategy for Canada, the safety and security principle in Canadas Digital Charter and the Government of Canadas Innovations and Skills Plan.

This project is undertaken with the financial support of the Canadian Space Agency.

About evolutionQ:evolutionQ is a leading quantum-safe cybersecurity company led by world-renowned quantum computing experts Dr. Michele Mosca and Dr. Norbert Ltkenhaus. evolutionQ delivers quantum-risk management strategy and advisory services along with robust cybersecurity products designed to be safe against quantum computers.

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Quantum-safe security firm evolutionQ awarded contribution from Canada Space Agency for Quantum Key Distribution (QKD) Network Research and...

It appears that many of the deep tech" algorithms the world is excited about will run into physical barriers before they reach their true promise. Take Bitcoin. A cryptocurrency based on blockchain technology, it has a sophisticated algorithm that grows in complexity, as very few new Bitcoin are mintedthrough a digital process called mining". For a simple description of Bitcoin and blockchain, you could refer to an earlier Mint column of mine.

Bitcoins assurance of validity is achieved by its proving" algorithm, which is designed to continually increase in mathematical complexityand hence the computing power needed to process itevery time a Bitcoin is mined. Individual miners are continually doing work to assess the validity of each Bitcoin transaction and confirm whether it adheres to the cryptocurrencys rules. They earn small amounts of new Bitcoin for their efforts. The complexity of getting several miners to agree on the same history of transactions (and thereby validate them) is managed by the same miners who try outpacing one another to create a valid block".

The machines that perform this work consume huge amounts of energy. According to Digiconomist.net, each transaction uses almost 544KWh of electrical energyenough to provide for the average US household for almost three weeks. The total energy consumption of the Bitcoin network alone is about 64 TWh, enough to provide for all the energy needs of Switzerland. The website also tracks the carbon footprint and electronic waste left behind by Bitcoin, which are both startlingly high. This exploitation of resources is unsustainable in the long run, and directly impacts global warming. At a more mundane level, the costs of mining Bitcoin can outstrip the rewards.

But cryptocurrencies are not the worlds only hogs of computing power. Many Artificial Intelligence (AI) deep learning neural" algorithms also place crushing demands on the planets digital processing capacity.

A neural network" attempts to mimic the functioning of the human brain and nervous system in AI learning models. There are many of these. The two most widely used are recursive neural networks, which develop a memory pattern, and convolutional neural networks, which develop spatial reasoning. The first is used for tasks such as language translation, and the second for image processing. These use enormous computing power, as do other AI neural network models that help with deep learning".

Frenetic research has been going into new chip architectures for these to handle the ever-increasing complexity of AI models more efficiently. Todays computers are binary", meaning they depend on the two simple states of a transistor bitwhich could be either on or off, and thus either a 0 or 1 in binary notation. Newer chips try to achieve efficiency through other architectures. This will ostensibly help binary computers execute algorithms more efficiently. These chips are designed as graphic-processing units, since they are more capable of dealing with AIs demands than central processing units, which are the mainstay of most devices.

In a parallel attempt to get beyond binary computing, firms such as DWave, Google and IBM are working on a different class of machines called quantum computers, which make use of the so-called qubit" , with each qubit able to hold 0 and 1 values simultaneously. This enhances computing power. The problem with these, though, is that they are far from seeing widespread adoption. First off, they are not yet sophisticated enough to manage todays AI models efficiently, and second, they need to be maintained at temperatures that are close to absolute zero (-273 celsius). This refrigeration, in turn, uses up enormous amounts of electrical energy.

Clearly, advances in both binary chip design and quantum computing are not keeping pace with the increasing sophistication of deep tech algorithms.

In a research paper, Neil Thompson of the Massachusetts Institute of Technology and others analyse five widely-used AI application areas and show that advances in each of these fields of use come at a huge cost, since they are reliant on massive increases in computing capability. The authors argue that extrapolating this reliance forward reveals that current progress is rapidly becoming economically, technically and environmentally unsustainable.

Sustained progress in these applications will require changes to their deep learning algorithms and/or moving away from deep learning to other machine learning models that allow greater efficiency in their use of computing capability. The authors further argue that we are currently in an era where improvements in hardware performance are slowing, which means that this shift away from deep neural networks is now all the more urgent.

Thompson et al argue that the economic, environmental and purely technical costs of providing all this additional computing power will soon constrain deep learning and a range of applications, making the achievement of key milestones impossible, if current trajectories hold.

We are designing increasingly sophisticated algorithms, but we dont yet have computers that are sophisticated enough to match their demands efficiently. Without significant changes in how AI models are built, the usefulness of AI and other forms of deep tech is likely to hit a wall soon.

Siddharth Pai is founder of Siana Capital, a venture fund management company focused on deep science and tech in India

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Deep tech may stumble on insufficient computing power - Livemint

DURHAM A former Intel Corporation executive has been appointed as president and CEO ofSemiconductor Research Corporation (SRC), a global semiconductor research consortium based in Durham.

Todd Younkin, who is currently executive director of SRCs Joint University Microelectronics Program (JUMP),replacesKen Hansen who is retiring after leading SRC the past five years. Younkin will starttransitioning to his new role on August 18.

I am honored to lead SRC, a one-of-a-kind consortium with incredible potential and exceptionally talented people, Younkin said in a statement. Together, we will deliver on SRCs mission to bring the best minds together to achieve the unimaginable. SRC is well-positioned to meet our commitment to SRC members, employees, and stakeholders by paving the way for the semiconductor industry. Our strong values, unique innovation model, and unflinching commitment to our members are core SRC principles that we will maintain as we move forward.

Todd Younkin

Prior to SRC, Younkin held senior technical positions at Intel Corporation. Among them, he was an assignee to IMEC, an international semiconductor research and development hub, where he worked closely within the consortium to help move Extreme Ultraviolet Lithography (EUVL) into commercialization.

He holds a Ph.D. from the California Institute of Technology and Bachelor of Science from the University of Florida.

The challenges facing the semiconductor industry today are as exciting and demanding as ever before, said Gil Vandentop, SRC Chairman of the Board, in a statement. At the same time, AI, 5G+, and Quantum Computing promise to provide unfathomable gains and benefits for humanity. The need for research investments that bring these technology advances to bear is paramount. Todd has demonstrated an ability to bring organizations together, tackle common research causes, and advance technologies into industry. He has a clear vision to take SRC to the next level. I am delighted that Todd has accepted this challenge and will become the next SRC CEO.

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Former Intel exec to be new CEO of Semiconductor Research Corporation - WRAL Tech Wire

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During the coronavirus crisis, Americans have increasingly turned to technology for work, school, keeping in touch with friends and loved ones, and entertainment. Staying at home, we improvised and took advantage of the video chats and conference calls that connected us to the outside world.

At the same time, droves of young Americans found virtual community and amusement on TikTok, a popular video sharing platform. And, contrary to what our kids may believe, it is not a safe space.

Videos uploaded by American children and teenagers, which can range from seemingly benign dance routines to harmful depictions of violence or worse, are stored on TikToks servers deep within communist China along with every TikTok users personal information. Owned by the Chinese company ByteDance, TikTok is a shameless front for data harvesting on behalf of the Chinese Communist Party (CCP).

If youre concerned about TikToks influence and encroachment on the American people, youre not alone. Recently, President Donald Trump and national security leaders like Secretary of State Mike Pompeo have indicated that they will not allow TikTok to continue pocketing the private data of American citizens.

Congress also is taking action. On the China Task Force, we have been taking on the CCP and exposing TikToks efforts to mine Americans data and edge out competition in the free market. We know that the CCPs end goal is to limit free speech and the flow of information in America and across the world.

Our nation simply cannot allow this trajectory to continue. Ending TikToks influence in the United States would be a solid step in the right direction, but this platform is just the beginning of our problems. For too long, the Chinese communist government has sought to exert influence in the world by gaining dominance in the global telecommunications network.

In addition to TikToks parent company ByteDance, the CCP uses pawns like Huawei and ZTE to gain control over next-generation technology including artificial intelligence, semiconductor production, quantum computing and 5G.

Enabled by years of manipulative practices, including cheating and even outright theft, the Chinese government is poised to achieve global dominance in the technology and telecommunications sectors with the ultimate goal of controlling critical market segments and weaponizing global supply chains for medical equipment, weapons and other critical electronics.

In the 21st century, America cannot allow China to win the race to next-generation technology, and we on the China Task Force are leading Congress efforts in this pursuit.

Countering Chinas overreach into our technology requires a comprehensive approach. To be successful, we must equip young Americans with the skills and resources they need to once again lead in innovation. Additionally, we must move the manufacturing of our technology away from China.

As a solution, I introduced legislation that seeks to end Americas dependence on China for the rare earth elements and other minerals which are used to manufacture medical supplies, defense technology and high-tech products by establishing a supply chain for these resources in the United States. Instead of relying on China for the materials needed to make smartphones and other devices that we use every day, we should be utilizing the resources that we have here at home. In Pennsylvania, we have the dedicated skilled workforce and the rich stores of minerals needed to move the supply chain away from the hostile Chinese government and create jobs in our community.

Given Americans ever-increasing dependence on technology, its more important than ever that we guard against cyberattacks and protect our country from foreign interference. As our nation seeks to combat the CCP, we know that theres a long road ahead but this is the time to make a difference.

Each parents first step should be removing the spies from our childrens pockets by deleting TikTok to protect their privacy and thats just the beginning. Beyond banning TikTok, we must take steps today to limit the Chinese governments attempts to gain dominance tomorrow.

As a nation, we cannot afford to fall behind and endanger our national security. On the China Task Force, we are working to protect you and your data from the Chinese communist government. To win this fight, the China Task Force is leading the way to correct course and ensure that Americans are never beholden to the CCP.

U.S. Rep. John Joyce, M.D., a Republican from Altoona, represents Pennsylvanias 13th Congressional District.

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Rep. John Joyce: TikTok, the spy in your child's pocket, just tip of tech iceberg - TribLIVE