Savage Disruption — Quantum Money Could Destabilize Global Financial Markets
Quantum money is a savage disruption. A savage disruption is an event that forces individuals and organizations to reform their strategies in order to survive. Unlike crypto assets such as Bitcoin — bolstered by blockchain technology — quantum money is a class of virtual currency derived from quantum mechanics as an innovation framework. Quantum money is unique because it exploits the extraordinary characteristics of quantum mechanics, such as entanglement, to enable the creation of unclonable — impossible to counterfeit — virtual currency.,,, It is a virtual currency that could facilitate private and secure cross-border commerce. However, there are many risks related to this unforgeable virtual currency, including: money laundering, terrorist financing, and legal uncertainty.
Quantum money could destabilize global financial markets and become the dominant international currency that fuels global trade. It could topple the world’s dominant currency — the US dollar — which accounts for half of all global foreign exchange transactions, worth 6.6 trillion dollars per day.,,,,, Additionally, it could upend the promise of bitcoin because, as an example, quantum money eliminates the double-spending problem of blockchain-enabled crypto assets.,
From a macroeconomic impact, although the volume of crypto assets is presently low vis-à-vis the global GDP, quantum money is a force that would compel permanent change to the global financial ecosystem. Adoption of effective quantum money protocols is expected to surpass the use of current forms of virtual currencies.
There is an urgent need to prepare for this novel currency. The use of virtual — contactless — currencies will continue to increase after the global COVID-19 crisis. Quantum money patents have already been awarded signaling the prospect of other hidden quantum money schemes that have not yet been revealed. Its disruptive potential worldwide obliges international standards and global coordination. Policy inattention to help ensure responsible innovation with respect to quantum money is increasingly concerning. Policies and regulations should address this novel virtual currency.
About the Author
Maëva Ghonda is a Scientist who also specializes in Corporate Strategy and Competitive Intelligence. As a strategist, Maëva creates investment theses by identifying mega-trends that will profoundly disrupt global commerce.
Maëva fell for her true love — Quantum—while working as Quantum Scholar for the Joint Quantum Institute (JQI) for a National Institute of Standards and Technology (NIST) Fellow. She began to discover what is possible with quantum — e.g. Quantum Teleportation and Quantum Money — while reading intricate details of novel quantum-enabled inventions hidden in global patent documents to uncover valuable quantum technology innovations. As a scientist, Maëva’s research interests include: Quantum Computing, Quantum Cryptography, and Quantum Money.
More Articles by Maëva Ghonda
Quantum: Computing Re-imagined — https://maevaghonda.medium.com/quantum-computing-re-imagined-c63106d1a792?sk=0ac06480bf6d3fed4cddda0fdc58dad0
Blockweave: Patents Granted for Low-Cost Alternative to Blockchain — https://maevaghonda.medium.com/blockweave-patents-granted-for-low-cost-alternative-to-blockchain-d1a91513ad49?sk=92e76ec46c4c79836529c637d8c73a2d
Experian Granted Patent for Secure Data Transmissions 15 Days Before Revealing Massive Data Breach — https://maevaghonda.medium.com/experian-granted-patent-for-secure-data-transmissions-15-days-before-revealing-massive-data-breach-8e30ba836ebb?sk=ed2d43e00795b356f5abd4fe6a287fda
 US Patent No. US 8485427 B2; US Patent No. US 10790972 B2