The White House outlined a $215 million quantum computing competition and $2.4 billion in AI industry commitments as concerns grow over quantum threats to cryptocurrency security.
The Trump administration has announced over $6 billion in science initiatives, including a $215 million quantum computing competition and $2.4 billion in industry commitments for artificial intelligence tools and computing resources.
On Thursday, the Department of Energy identified eight scientific applications to guide its Quantum Genesis Q Competition, which offers up to $215 million in planned funding to companies developing fault-tolerant quantum computers.
First announced in September, the funding includes milestone-based awards and incentive prizes for companies that demonstrate increasingly powerful quantum systems.
The research priorities span chemistry, materials science, subatomic physics and applied mathematics. Advances in fault-tolerant quantum computing could have implications for blockchain-based assets that rely on public-key cryptography.
23, three EU financial watchdogs warned that the development of more powerful quantum computers could undermine cryptographic systems used to secure blockchains and financial transactions.