This advisory outlines cybersecurity risks arising from developments in quantum computing, and highlights mitigating measures that financial institutions should consider.

IBM has unveiled the first quantum computer with more than 1,000 qubits — the equivalent of the digital bits in an ordinary computer. But the company says that it will now shift gears and focus on making its machines more error-resistant rather than larger.

The annual Central Economic Work Conference was held in Beijing from Monday to Tuesday as Chinese leaders decided priorities for the economic work in 2024.

Scientists from Harvard, quantum computing company QuEra, and the Massachusetts Institute of Technology (MIT) successfully ran complex, large-scale programs on an error-corrected quantum computer using 48 logical qubits. Though more work remains, the team of researchers report that this milestone, published in the journal Nature, signifies a significant transition to practical quantum computing.

EPB Quantum NetworkSM powered by Qubitekk today announced that it will host Qunnect, a leader in quantum-secure networking technology, for a series of on-site collaborative validation runs. Qunnect will work with Qubitekk to utilize EPB Quantum Network to determine the interoperability of key quantum technologies across a quantum network. This demonstration will mark the first time two commercial quantum networking companies have operated their hardware to jointly support a distribution protocol.

SPTel, a joint venture company of ST Engineering and SP Group, and SpeQtral, a Singapore-based company focused on quantum communications, today announced that they have been jointly appointed by the Infocomm Media Development Authority of Singapore (IMDA) to build the National Quantum-Safe Network Plus (NQSN+), Singapore’s first nationwide quantum-safe network. When completed, NQSN+ will be an interoperable network fortified with quantum encryption capabilities that will provide unparalleled data protection for critical government and commercial applications.

Japan’s Q-STAR propels quantum technology’s global impact, emphasising practical applications and prioritising collaboration and societal problem-solving.

The British government has announced five Quantum Missions to build the United Kingdom’s capabilities in Quantum Computing and Quantum technology. Announced on the 22nd of November 2023, the National Quantum Strategy Missions have five specific missions, which include building a quantum computer capable of running 1 trillion calculations by 2035.

The SES-led consortium of European companies, responsible for development of the quantum secure space-based EAGLE-1 system and working in close collaboration with the European Space Agency (ESA), is joined by TNO and Airbus Netherlands B.V., to design and build an optical ground station for the mission. The contract was signed today by the partners at the Space Tech Expo in Bremen.

The Nobel Prize in Chemistry 2023 was awarded to Moungi G. Bawendi, Louis E. Brus and Alexei I. Ekimov "for the discovery and synthesis of quantum dots".