Up Next: Quantum Currencies?

Californian digital asset research and development organisation CMTLabs has released proposals for a new crypto asset class in the form of quantum currencies.

CMTLabs says that unlike current cryptocurrencies, the proposed quantum currencies would properly function equally well as a balanced SOV (Store of Value) and monetary means of exchange, with bitcoin eyeing another move above $50,000, there are questions over its ability to function effectively as payment means.

CMTLabs explains that dual and equally-balanced financial state functionality is achieved by entering a FSP (Financial Super Position) dual value proposition state during a transaction. FSP is the financial equivalent of a qubit entering value states of 0 and 1 simultaneously (super position) during a quantum computer calculation. Qubits “collapse” into a resting state as a 0 or 1 when the calculation is completed (measurement by an outside observer).

The same applies to what can be defined as a quantum currency crypto asset, it argues, saying that when the transaction is completed (measurement), the crypto asset “collapses” into a resting financial state by the observer (recipient) as a balanced currency (0) or SOV (1).

FSP capability is achieved by utilising a CMTLabs developed hybrid use of algorithmic mining/minting management, asset pegged mechanisms and a perpetual “burn pool” currency reserve – which effectively removes tokens from circulation. SOV functionality would maintain a relatively low financial value increase above a need-based asset index similar to the US CPI (Consumer Price Index), CMTLabs says, adding the crypto asset value increase would be low enough not to attract “whales” but high enough to attract the retail consumer segment.

A quantum currency could provide a balanced, reliable, non-volatile SOV and currency functionality with 100% equitable and inclusive ownership opportunities, the firm argues.