One of the few publicly traded companies in Canada focused on quantum computing is expanding into Australia next.
What’s happening:
- Quantum computing company BTQ Technologies (CBOE:BTQ) has announced they have officially launched their new subsidiary known as BTQ Australia
- The new subsidiary will operate out of The Quantum Terminal in Sydney, Australia
Why it matters:
- Australia has been making a flurry of moves to become a leader in the quantum computing revolution, with the Australian government recently making a significant investment into quantum computing startup PsiQuantum
- Technology giants such as Nvidia (NASDAQ: NVDA) and Google have both recently been accelerating their focus on quantum computing amidst excitement around quantum computing being the next major disruption in technology alongside artificial intelligence
The big idea:
- BTQ Technologies is focused on developing post quantum cryptography to defend against security threats and potential data breaches
- By focusing on combining hardware and software together, BTQ Technologies is aiming to be able to combat the risks of cyber attacks posed by large scale universal quantum computers
Going deeper:
- BTQ Technologies has already established multiple notable partnerships in Australia with both Macquarie University and The Sydney Quantum Academy
- Previously, BTQ Technologies announced a partnership with Australian non-profit Australian Quantum Software Network to collaborate together on open source quantum computing software
The intrigue:
- BTQ Technologies is co-founded by Olivier Roussy Newton, who also is the co-founder of DeFi Technologies (CBOE: DEFI) which has recently launched the world’s first yield generating Bitcoin Exchange Traded Product and begun successfully venturing into crypto arbitrage trading
