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Fintech QC Ware Used This Pitch Deck to Raise a $25 Million Series B – Business Insider

Even though banks and hedge funds are still several years out from adding quantum computing to their tech arsenals, that hasn't stopped Wall Street giants from investing time and money into the emerging technology class.

And momentum for QC Ware, a startup looking to cut the time and resources it takes to use quantum computing, is accelerating. The fintech secured a $25 million Series B on September 29 co-led by Koch Disruptive Technologies and Covestro with participation from D.E. Shaw, Citi, and Samsung Ventures.

QC Ware, founded in 2014, builds quantum algorithms for the likes of Goldman Sachs (which led the fintech's Series A), Airbus, and BMW Group. The algorithms, which are effectively code bases that include quantum processing elements, can run on any of the four main public-cloud providers.

Quantum computing allows companies to do complex calculations faster than traditional computers by using a form of physics that runs on quantum bits as opposed to the traditional 1s and 0s that computers use. This is especially helpful in banking for risk analytics or algorithmic trading, where executing calculations milliseconds faster than the competition can give firms a leg up.

"With all of our investors, with every one, there is a strategic dimension to the investment," QC Ware CEO Matt Johnson told Insider. "Almost every one of our investors cares about having a front-row seat as the technology develops."

And while quantum computing has significant potential, the resources required to use it are still too great to be more cost effective than traditional computers.

QC Ware aims to mitigate that by designing algorithms that reduce the resource requirements of quantum computers by using the minimum amount of steps to solve the problem.

For instance, QC Ware's collaboration with Goldman Sachs to design an algorithm to speed derivatives pricing calculations reduced the wait time for the required quantum hardware from 10 years to five, said Yianni Gamvros, QC Ware head of business development.

Since each algorithm is built per use case, QC Ware will use the new funds to double its team to 60, staffing up on quantum engineers to build the specialized algorithms and software engineers to build out a more expansive cloud service.

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Fintech QC Ware Used This Pitch Deck to Raise a $25 Million Series B - Business Insider

Discovery Fund to Seed Local Innovation Ecosystem – Maryland Today

University of Maryland President Darryll J. Pines today announced the creation of the Discovery Fund, which will support innovative companies and startups based in College Park and throughout Prince Georges County with up to $1 million a year from the university.

The first round of support is earmarked to help build a network of quantum business focused around UMD, Pines said in an address at the universitys inaugural Quantum Investment Summit. The two-day event was designed to connect investors and innovators in the growing quantum business and technology space, and drew more than 300 in-person and virtual participants from U.S. and international companies and organizations.

The university has long been a powerhouse in quantum physics research as well as a leader in designing and engineering technology based on this revolutionary branch of scienceone expected to result in quantum computers with unprecedented capabilities as well as disruptive advances in material science, digital security, health care and other fields.

UMDs growing commitment to strengthening the industrys foundation further solidifies the universitys status as the heart of the Capital of Quantum, Pines said.

This continual building on the infrastructure needed to catalyze startups and create groundbreaking products is absolutely essential if were to support and accelerate the advancement and commercialization of quantum technologies, he said. The Discovery Fund is the perfect addition to keep the momentum going around the quantum ecosystem we have been building for more than three decades.

The announcement of the new funding comes the same month that a leading quantum computing company, IonQ, went public on the New York Stock exchange with a $2 billion market valuation. The company is based in part on technology developed in UMD labs, and illustrates what the university has to gain: As IonQ works to bring quantum computing to scale, its continued close connection with UMD affords the company access to a pipeline of stellar workforce talent, Pines said today.

Another feature in UMDs expanding ecosystem is the Quantum Startup Foundry (QSF), backed by a $10 million capital investment from UMD, which will function as a business incubator to support nascent firms in the quantum technology field. The university today announced that MITRE, a not-for-profit company that works in the public interest and operates six federally funded research and development centers in areas including aviation, defense, health care, homeland security, and cybersecurity had joined as a founding QSF member.

Julie Lenzer, UMDs chief innovation officer, said offerings like the QSF and the Quantum Investment Summit help make the university central to quantum-based industry as it already is in quantum science and engineering research.

Helping to give rise to a company as successful as IonQ would be a once-in-a-lifetime thing for most schools, if that, Lenzer said. But were continuing to build on this so we can breed more success by connecting innovative quantum research and ideas with investors who want to make a difference in an area thats going to define the future.

Attendees at the investment summit included businesses ranging from giants like Lockheed Martin and IBM to new firms vying to become household names, as well as local and state officials, investors and venture capital firms.

With federal and state agencies and nations worldwide pouring many billions of dollars into quantum researchand hoping to reap the rewards of winning the race to deploy the technologyUMD, the region and the nation must strive to turn deep fundamental understanding of the science into innovation, Pines said.

Make no mistake: This is our generations space race, he said. Who will be the first to unleash the power of quantum? Im hoping its going to be us.

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Discovery Fund to Seed Local Innovation Ecosystem - Maryland Today

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Quantum computing are being used in computationally intensive applications such as artificial intelligence. Quantum machine learning (QML) is a combination of machine learning and quantum physics. Alphabet Inc. launched TensorFlow Quantum library in March 2020 for developing QML apps. Researchers at Pennsylvania State University are using QML for developing COVID-19 treatment. These applications will drive the quantum computing technologies market in future. From the healthcare perspective, quantum computing technologies can lead to dramatic acceleration in speed and performance both. Radiation therapy is the widely-used form of treatment for oncology. Radiation beams are used to destroy cancerous cells. Devising a radiation plan is to minimize damage to surrounding healthy tissue and body parts is a very complicated optimization problem with thousands of data. To arrive at the optimal radiation plan requires many simulations until an optimal solution is determined. The horizon of possibilities that can be considered between each simulation is much broader and large in nature. Such a factor is expected to boost the

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Could CHINA be exporting its CENSORSHIP to the rest of the WORLD? – VisualPolitik EN – The Global Herald – The Global Herald

VisualPolitik EN published this video item, entitled Could CHINA be exporting its CENSORSHIP to the rest of the WORLD? VisualPolitik EN below is their description.

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China is a country known for censorship, the Asian giant has managed to position itself and stand up to the West, showing that they can open up to the world and, at the same time, maintain their dictatorship.

China has more censorship than any other country, a result of their superior technology that allows them to develop a massive firewall to filter the information that the Chinese population sees. The worlds most popular social media platforms are banned in this country, because China uses its own social networks which are monitored by the government, thereby having total control of the flow of information.

These days we are hearing of cases where Western films and companies self-censor themselves in order to enter the expanding and attractive Chinese market.

But how does censorship work in China? Is censorship being exported to other countries? Do many Western companies really censor themselves in order to enter the Chinese market?

Join us in this video where we answer these questions.

And dont forget to visit our friends podcast, Reconsider Media:

https://www.reconsidermedia.com/

Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.

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Could CHINA be exporting its CENSORSHIP to the rest of the WORLD? - VisualPolitik EN - The Global Herald - The Global Herald

Freedom From Censorship: Inside The Battle To Build A Second Internet – The Federalist

It was just above freezing on Capitol Hill the night of Jan. 8, when Twitter banned President Donald Trump from messaging his nearly 90 million followers.

The censorship of a sitting American president by unaccountable and unelected billionaires in California was a dangerous escalation, but here in Washington, Democrats were overjoyed, most Republicans were relieved, and the corporate press was ecstatic. To even question the decision publicly in D.C. was to support an imagined insurrection.

That night, as friends and I discussed the damage done and the battles ahead around my kitchen bar, we foresaw a world where these kinds of sweeping actions would become common to the point of mundane, losing any fig leaf of justification along the way. As the hours wore on and the beer animated our discussion, one of our company, Martn Avila, sat aside and said little.

It was strange: Avila was a technologist who stayed in a guest room when he was in town. Hed been predicting this moment for years, but the night it happened he chose to retire with barely a word.

Early the next morning, I heard the engine start on his 94 Range Rover as he pulled the truck into the winter air. He was heading to North Carolina to meet with some old friends.

President Trump was far from the first to be banned by Twitter, but his permanent suspension marked the start of a long, dark night, when anyone anywhere might be banned for anything at the whim of a technocrat.

Wed seen warnings the sun was setting on a free internet: Mozilla Firefox President and cofounder Brendan Eich was fired over his Christian religion in 2014; Google worked openly to demonetize content it didnt like in 2020; and that same year social media giants censored a true story from a major newspaper founded by Alexander Hamilton in order to assist their political allies. Treating the U.S. president worse than a terrorist spokesman, however, was something new.

In response, President Trumps followers flocked to Parler, a Twitter competitor that hadnt banned him from their platform, quickly making it a top-downloaded app in the Apple and Google Play stores. Seeing the threat to their censorship, on Saturday both stores announced they would ban the companys app. That evening, their web host, Amazon Web Services, took Parler entirely off the internet.

These actions cant be overstated: To ban an app from the major stores is to essentially ban it from being used by any of your customers and at the moment of its greatest momentum. To ban it from the very servers it uses is to lower it into its grave. For three of the most powerful companies on the planet to do so in concert is nothing less than the end of a crucial idea that if you dont like the way somethings done, you can do it yourself, and if youre good and lucky enough you might even succeed. We called that idea the American dream.

But the very existence of men like Eich, as well as the ongoing occasional leaks and small rebellions within the tech giants, speak to a community of dissidents throughout Silicon Valley that until this final moment had seen few reasons to start something new. By the end of the weekend, that calculus had irrevocably changed and Avila and a small number of other conscientious objectors had launched the first salvo against the core of Big Tech by starting a new company called RightForge.

The mission is simple on its face: create an internet governed by the principles enshrined in our Declaration, Constitution, and Bill of Rights. The execution, however, requires something more than previous attempts to combat Big Tech supremacy: Instead of playing whack-a-mole by challenging platforms and software, go after the rot at the core, creating a separate, sprawling infrastructure built on hard work, skill, and servers. That is, a second internet.

Its a fundamental problem wed never had to think about before. What happens when the companies that own the ground say you cant build here anymore if youre a conservative, a free-thinking scientist, an upset parent, or simply a Christian?

Thats no hyperbole: Just last month, GoDaddy cut the legs out from Texas Right To Life for providing a forum to protect the constitutional right to life by reporting violations of the states new law. The publicity GoDaddy received from the corporate press was so unanimously positive, a company called DigitalOcean jumped on the bus, crowing that they deserved credit for deplatforming Christians they werent even officially doing business with yet.

The tyrants who seek to control arent brave, nor are they new and its far from the first time the lords who own the land have told the rest they cant build there anymore. Four hundred years ago, the Puritans set sail for the Americas under just such circumstances. Theyd hoped to land in the colonies down south, just as Americans had hoped for a free internet, but forces outside their control had a different plan so they chartered their own founding and forged their own destinies.

RightForge seeks to do just that, because today that is the only way forward. While Ive devoted my life to journalism, everything is at stake; if the internet is not free, honest journalism itself is threatened along with honest political debate, education, science, and the rest.

Wherever despotism abounds, President Calvin Coolidge warned the American Society of Newspaper Editors nearly a century ago, the sources of public information are first to be brought under its control.

Few in politics, the press, or tech recall his warning; worse yet, few still believe it. The most powerful insiders in the world have turned on the American people and the heritage of liberty we cherish, proudly taking aim at our open society. The only choice remaining is to create an alternative; if we dont forge our own path free from their control, this night weve entered will only grow darker and longer.

So, on the first Monday of the month I joined them in their fight as chief communications director, where Ill be defending and expanding an internet where people of all politics and religions can communicate, interact, and conduct commerce free from arbitrary power.

This mission stands in support of honest journalism and against those who seek to censor it, so far from leaving, Ill be remaining at The Federalist. Were on the front lines of every single battle for our culture and country, and Im anxious for the fray.

This fight is a crucial one. One by one, from science and the universities to banking and commerce, press and opinion, conservatives are losing access. We may soon need alternates to all these things and will need access to an internet infrastructure to build them.

Its as easy to be optimistic as it is pessimistic neither posture requires much effort beyond a smile or a frown. Assuming everything will be OK that the rulers will overreach and grow weary, or that some mythical backlash is coming isnt realistic, and is as incompatible with the American way as defeatism in the face of difficult odds. Big Tech might be big, but were a strong people with the intelligence, the technology, the means, and the grit to fight for our freedoms and forge our own destinies.

Weve done it before; were doing it again.

Christopher Bedford is a senior editor at The Federalist and chief communications officer at RightForge.

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Freedom From Censorship: Inside The Battle To Build A Second Internet - The Federalist