SMU, OneConnect to Advance Blockchain with Quantum Computing

Asia Blockchain Review
September 17, 2019
SMU, OneConnect to Advance Blockchain with Quantum Computing

Singapore Management University (SMU) has entered into a Memorandum of Understanding (MoU) with OneConnect Financial Technology, which will see the two studying the use of quantum computing to push blockchain technology forward.

Reported by Singapore Management University on its official website, SMU and OneConnect are looking to develop a Proof of Concept (PoC) for quantum computing applications in the realm of distributed ledger technology.

Quantum Computing Speeds to Power Blockchain Processes

The collaboration is founded on SMU’s belief that quantum computing has the potential to augment blockchain technology. Quantum computing provides high computational speeds and the ability to handle vastly complex calculations — two traits in high demand in blockchain-based solutions.   

Professor Pang Hwee Hwa, Dean of the SMU School of Information Systems, explained that the partnership with OneConnect will allow the university to test practical applications. 

“SMU is developing R&D expertise in blockchain and quantum computing… OneConnect will allow us to test our technology in a “real world environment”, and keep our research well aligned with the financial industry,” said Professor Pang.

OneConnect Committed to Accelerating Digital Transformation

An associate firm of Chinese insurance giant Ping An Group, OneConnect Financial Technology already operates FiMax, which won the “Best Blockchain or Distributed Ledger Technology or Platform Award” from The Asian Banker this year.

The company is keen on exploring quantum computing technology for blockchain due to its own mission of pushing the industry further. Tan Bin Ru, CEO of OneConnect (Southeast Asia), remarked, “Unravelling what quantum computing and blockchain can become as a whole, allows OneConnect to be the game changer bringing the best and latest technology to market. This is in line with our commitment to accelerate digital transformation.” 

Source: www.smu.edu.sg


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
The Inaugural INCEIF-ISRA Annual Conference on Islamic Economics and Finance (I-ARIEF)
Themed ‘Islamic Finance and Islamic Economy Ecosystem in the Era of Digitalisation’, the two-day eve...

November 28, 2019

Trescon’s 14th World Blockchain Summit to Debut in Thailand This December
World Blockchain Summit (WBS) will expand its footprints into Thailand this December, hosting the wo...

November 27, 2019

The BitOrb Exchange Secures $6.4M
The BitOrb Exchange has successfully secured US$6.4 million in its latest funding round which was le...

November 15, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us