Quantum Computing to join key Business Council trade mission to UAE

Quantum Computing Inc (QTC:QUBT) announced Wednesday that it will join the large US-UAE Business Council trade mission to the United Arab Emirates (UAE) later this month.

The Leesburg, Virginia-based pure-play quantum computing technology company said the business council is leading a five-day US Department of Commerce trade mission to the UAE starting on October 20 for American companies focused on fintech.

The mission will run parallel with Abu Dhabi Global Market’s ‘FinTech Abu Dhabi 2019′. The delegation will have the opportunity to learn more about the UAE’s regulatory environment and fintech ecosystem. The US-UAE Business Council will also organize a networking reception on October 20.

READ: Quantum plots course to meet demands of future

The UAE is a hub for tech innovation and is the largest export market for America in the Middle East. Quantum said the upcoming trade mission represents a “prime opportunity” to debut its offerings and build partnerships with leading investment institutions in the region.

In a statement, Quantum Computing CEO Robert Liscouski said: “QCI’s technology team will be connecting with innovators and delegations from around the world and helping lay the foundation for the next generation of financial technology.” 

“We believe that the financial community will respond positively to our application utilizing quantum computing-inspired methods to deliver differentiated performance in the investment decision making process,” he added.

Next wave of algorithms

Quantum computing holds the promise of performing complex calculations in seconds that would take the most advanced computers years to complete. This new breed of supercomputer promises to dramatically improve computing power by storing information not in bits but in subatomic particles called quantum bits or qubits which have mighty capabilities.

Using qubits in so-called superpositions, a quantum computer can find answers to computational challenges in far fewer steps than a traditional computer would require.

Quantum’s team of computer scientists have designed the next wave of algorithms used by high-frequency traders at hedge funds to scour the market for arbitrage opportunities and competitive investment strategies. But their programs are also set to be used for genetic research, and by pharmaceutical companies and governments.

“As a member of the five-day Department of Commerce-certified fintech trade mission to the UAE, Quantum Computing is honored to represent the US on a global stage,” said Liscouski.

Quantum has assembled a core team of experts in mathematics, quantum physics, supercomputing, financing and cryptography.

“Ahead of general-purpose quantum computers, the US Commercial Service is excited to introduce innovative American companies to new markets that bolster the United States’ position as a leader in advanced technology,” said Thomas Bruns, senior US Commercial Service officer for the Gulf region.

The US Commercial Service is the trade promotion arm of the Department of Commerce’s International Trade Administration.

Contact Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive 

Story by ProactiveInvestors