The Intersection of Quantum Computing and Blockchain Technology in Securing Financial Systems

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As the world of the digital world keeps evolving and evolving at a very rapid rate, it is getting evident that we are in the technology world and it is been transformed to two branch of technology that is changing our world around and that is quantum computing and the Blockchain technology. These two technology have been able to transform the future of the financial systems around and making it a better place to be much more than it was before.

With quantum computing, it has been able to change situations and helping to provide solution to complex problems that ordinary or what is called the classical computers can even handle. Several times, we have talk about the blockchain technology and this has really been able to give this Decentralised nature and which have given this high level of financial transactions much more ever you can ever imagine of. Today I will be talking about the quantum computing as many of us are not yet familiar with that type of the technology and I will be discussing about how it has been able to transform the financial world around.

Before diving into the main topic for today, I will like to actually discuss about the need to understand the quantum computing as it work on the quantum mechanics to help work on computations. One of the major edge quantum computers have over the classical computer is the fact that it helps to give this massive amount of data that can help to increase speed to carry out tasks needed to be done.

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The major strength of quantum computing as it were helps to lie in the ability to be able to actually solve problems and not only solve problems but also been able to solve what is called cryptographic problems that are mostly seen as the complex one. At the end of the day, this really helps to protect financial data which are very sensitive and important that it must be well secured.

Like I said earlier, you can not actually make mention of quantum computing without the Blockchain technology. In the data world we find ourselves into, one of the things that has helped to actually transform the way data is been stored, verified and been transferred within the financial space, it is the Blockchain technology. Blockchain is used beyond the crypto space that many of us think it is only known to be. Yes, the crypto space is just a branch of the blockchain technology that has gained massive attention but that does not limit to that.

Blockchain is used for a lot of purposes other than crypto space. It is used to facilitate transactions, provide smart contracts and even provide transparency that we might not actually thought of. One of the major advantages that I have noticed that the Blockchain technology has offered to the financial system is the fact that it has helped to give this Decentralisation to the financial operations and helps to eliminate the dependency we always have on those traditional institutions.

But my major concern is the fact that even with the lot of benefits that the Blockchain technology offer, there are still challenges and threats that is still subjected to. Research made me understand that the transaction data is exposed to the quantum computing attacked and this most of the time puts the financial systems at a very high risk which I believe needs to be addressed in the Blockchain world.

In as much both quantum computing and Blockchain technology is part of the branch of technology, I believe to a very great extent, quantum offer threats to the Blockchain security which is a great concern that needs to be dealt with. As Blockchain technology doesn't use the cryptography key to carry out and secure transactions, I believe those Cryptography keys can be broken even with the quantum computers.

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If this is not well balanced, hackers can be making use of the quantum computers to get access to data stored even within the Blockchain technology. Hackers can make use of those quantum computer to be able to decrypt private keys and this can lead to transactions to be manipulated and counterfeit. If this is not tackled, it can lead to loss of funds and assets in the form of cryptocurrency in the Blockchain space.

Of course there is still a very bright future ahead for the quantum and the Blockchain world transform actually which is very great and important. I believe if there cha be adequate balance between the quantum computing and the Blockchain technology, it can really go a long way to transform a lot of things around positively. Combining both the quantum computers and the Blockchain protocols together, it can go a long way to give this security in the financial systems.

But before that can be achieved, I belong both the financial institutions and the government must work together. One of the major hindrances that is preventing the massive adoption of the Blockchain technology is the fact that the government are not giving the adoption it needs. This will give the Blockchain system to work in a much more upgraded level than it was before and that will also be with the aid of quantum technologies.

To also create the balance, I believe more regulatory bodies should come up that will hope In facilitating the adoption of the blockchain technology. The government must come up with a policy that will encourage balancing between both quantum computing and the Blockchain technology at the end of the day.

As I conclude, I will like to conclude that it is a tin line that can shift the focus of the balance between both of the technology branch that I have discussed in today's post. But if both can be well utlsied, it can create this massive balance of financial security to the financial system. Even though it might not look like that now, I believe it is just a matter of time before it actually looks like it actually.