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Ethereum rebuild casts doubt on banks’ QC prep

The Waters Wrap: Q-Day may be approaching faster than some realize. As Ethereum embarks on a major overhaul, Wei-Shen asks: just how prepared are banks?

Village Fair by Cornelis Dusart
Credit: Cornelis Dusart

For many, the idea of quantum computing (QC) may feel far off. After all, we have yet to see a fully fault-tolerant quantum computer. There was some hype around the emerging technology a few years back, when IBM and Google were neck-and-neck in a quantum supremacy race. 

Financial institutions followed that by experimenting with the technology through quantum simulators. Barclays, for instance, was exploring applying QC for settlement optimization, while Goldman Sachs worked with IBM to estimate

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