LEESBURG, Virginia – April 20, 2023 – Quantum Computing Inc. (“QCi” or the “Company”) (NASDAQ: QUBT), a first-to-market full-stack photonic-based quantum computing and solutions company, today announced the expansion of its commercially available product line to include patented Quantum Random Number Generator (“QRNG”) technology, capable of generating non-repeatable number sequences. This series of quantum products generate truly random numbers of various probability densities and correlation properties to serve many different applications encompassing security, modeling, and finance. The series includes quantum random numbers (QRNs) that are either binary or high-dimensional, and either independent of, or correlated with each other. Distinctly, customers can configure the QRNG to obey either a uniform probability distribution or a specific non-uniform probability distribution appropriate for their specific application, such as Gaussian, Lorentzian, or other distributions that are important for data simulation and analysis. The Company plans to offer the first series of QRNG products through a cloud-based subscription on its website beginning today followed by an option to purchase the hardware, which is a handheld cube-sized QRNG device, during mid-year 2023.
The patent, developed by QCi’s scientists in partnership with and exclusively licensed from Stevens Institute of Technology, is a broad use patent on a fundamental methodology and implementation that utilizes a unique circuit design that eliminates the need for randomness extraction or amplification, as routinely required by other approaches and devices. This technology is crucial to mitigate security vulnerabilities and provide customers with trustworthy data.
“This breakthrough capability based on measuring the stochastic arrival time of single or correlated photons produces truly random numbers that passed all standard randomness tests such as NIST and Dieharder. Importantly, results are obtained with superior fidelity, accuracy, and cost savings without security compromise,” commented William McGann Ph.D., Quantum Computing Inc.’s Chief Operating and Technology Officer. “Random numbers are fundamental and useful resources in science and engineering with indispensable applications in simulation, machine learning, and cyber-security for use in gaming, military, communications, financial industries and expanding into automotive and Internet-of-things.”
Dr. McGann continued, “Neither numeric algorithms nor classical-physics processes are capable of creating genuine random numbers to meet the growing demands in data security and accuracy – the number sequence generated have a defined starting point and ultimately, random sequences will become repeatable. In contrast, truly random numbers can be derived from quantum mechanical processes whose fundamentally unpredictable nature guarantees impeccable randomness. However, the current QRNG technology available today inevitably requires many steps of postprocessing to pass quality checks. As a result, generated sequences often suffer from various experimental imperfections, including measurement bias, sampling period-induced correlation, and mixture with other deterministic classical noise. QCi’s approach overcomes these deficiencies by measuring the quantum fluctuations first, ensuring superior conditions prior to starting the random number generation process. This approach eliminates the need for the time-consuming and computationally complicated postprocessing and the associated security vulnerabilities in creating a superior Quantum Random Number Generator.”
“According to Statista, the quantum random number generator market was valued at $300+ million in 2022 and is expected to grow over 35% annually for the foreseeable future, exceeding $3.2 billion by 2030. To capture a strong market share, we have tactically mapped out a go-to-market strategy which may ultimately include a distribution partner to significantly expand QCi’s reach and speed to market. We are in active discussions that we hope to conclude as we launch subsequent upgrades to our core QRNG capability,” stated Bob Liscouski, CEO Quantum Computing Inc. “Our core QRNG technology provides arbitrary and correlated random number distribution which has unique advantages in security and big data analyses. It is our intention to build upon these advantages. We have laid out a fairly aggressive QRNG product enhancement road map that includes both hardware and software upgrades. We have the ability over the next 12 months to minimize the size of our hardware footprint to open the opportunity to integrate into other hardware devices and workstations. Also, following our first release, we will include additional novel software features to support user customization of arbitrary rather than uniform random number distribution, the ability to generate multiple sets of correlated random numbers, and finally, decentralized random generated number sets necessary when building out a network.”
Liscouski added, “The launch of our QRNG product line is another demonstration of QCi’s commitment to continue to commercialize its quantum technologies and solutions for real world business applications. This is a demonstration of the breadth of QCi’s technology portfolio and an important step for QCi. Not only is QCi a leader in quantum photonic computing but also other related quantum technologies. QCi is one of the few companies in the quantum industry that can make that claim.”
About Quantum Computing Inc.
QCi is a full-stack quantum software and hardware company on a mission to accelerate the value of quantum computing for real-world business solutions, delivering the future of quantum computing, today. The company is on a path to delivering an accessible and affordable full-stack solution with real-world industrial applications, using quantum entropy, which can be used anywhere and with little to no training. QCi’s experts in finance, computing, security, mathematics and physics have over a century of experience with complex technologies ranging from leading edge supercomputing to precision sensors and imaging technology, to the security that protects nations. For more information about QCi, visit www.quantumcomputinginc.com.
About Quantum Innovative Solutions
QIS, a wholly owned subsidiary of Quantum Computing Inc., is a newly established supplier of quantum technology solutions and services to the government and defense industries. With a team of qualified and cleared staff, QIS delivers a range of solutions from entropy quantum computing to quantum communications and sensing, backed by expertise in logistics, manufacturing, R&D and training. The company is exclusively focused on delivering tailored solutions for partners in various government departments and agencies.
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This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. Those statements include statements regarding the intent, belief or current expectations of Quantum Computing Inc. (the “Company”), and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.
The Company undertakes no obligation to update or revise forward-looking statements to reflect changed conditions. Statements in this press release that are not descriptions of historical facts are forward-looking statements relating to future events, and as such all forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995. Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Words such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate,” “intends,” “goal,” “objective,” “seek,” “attempt,” “aim to,” or variations of these or similar words, identify forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in the Company’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in the Company’s filings with the SEC.
Jessica Tocco – CEO
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