The UK government has announced plans to invest £500 million in quantum technologies over the next four years.
Investment in quantum technologies
This investment aims to fill the gap left by a previously planned 10-year quantum strategy worth £2.5 million introduced by the former Conservative government in 2023. The official announcement is expected to be made on Monday.
Concerns and risks for Bitcoin
Some Bitcoin developers and institutions like BlackRock see quantum computing as a potential long-term threat to Bitcoin's security. Bitcoin developers have proposed measures like burning old coins to counter the risks posed by quantum attacks. Concerns have been raised that within 10 to 20 years, quantum computers could become powerful enough to compromise Bitcoin's cryptographic protections.
Prospects and challenges of quantum technologies
According to Gerald Mullally, interim CEO of Oxford Quantum Circuits, establishing sovereign quantum computing capacity is also important for national security and economic resilience. Investments are expected to advance areas such as early dementia detection and precise detection of London Underground trains.
Investments in quantum technologies are also viewed as a response to the rapid global race for quantum computing led by the US and China.
