Trump Unveils $215M Quantum Push as Bitcoin Security Fears Grow

The Trump administration announced more than $6 billion in science initiatives, including a $215 million quantum computing contest, and European officials urged cryptocurrency developers to implement safeguards to protect consumers’ cryptocurrency investments in the future.

Announced at the Science: A New Golden Age Summit at the White House on October 8, government and other public and private investments and research activities are planned, including in quantum technology, AI, health, and space. Plans for activities in quantum technology do not include efforts to protect cryptocurrencies.

Trump’s $215M Quantum Competition Targets Reliable Machines

The U.S. Department of Energy started the Quantum Genesis Q Competition on September 17. Eight scientific challenges were announced at a meeting. The goal of the Quantum Genesis Q Competition is to develop useful, fault-tolerant quantum computers for applications in chemistry, physics, materials science, and other fields.

Applicants must demonstrate that they have 100 logical qubits and hundreds of millions of error-free operations. Awards to some applicants could be as much as $1.5 million each. A $100 million award is available for 100 logical qubits, and two $50 million awards are available for 150 and 200 logical qubits, respectively.