Quantum Computing May Soon Render Today’s Financial Solutions Obsolete
Look at the picture below and tell me: how many of these objects do you recognize?
For the older among you, how many did you use?
All of them have something in common: they disappeared from the market!
As you may know by now, I am not an alarmist, and I am not claiming that "in a matter of years, quantum computers will allow us to travel in multiple dimensions at speeds faster than light!"
But quantum computing is a reality, and it must be taken seriously.
I believe that financial institutions need to start adopting quantum technologies sooner rather than later.
It is not an exaggeration to say that, in this case, the old proverb fits:
"Yesterday was the best time, today is the second best, and tomorrow may be too late."
In marketing, they always teach that you should focus on the pain your potential customers are feeling.
Your goal is to stress that pain and then convince them that your product or service alleviates or eliminates it.
But what if there is no pain?
This is the problem with emerging technologies: at the moment, there is no pain.
But what about later?
When will practical quantum computers be a reality?
3, 5, 10, 20 years? Nobody knows for certain.
Honestly, this is extremely difficult to evaluate.
Look, here’s the thing: Are financial institutions, from small to large ones, ready to suffer the fate of the products in the picture below?
Not that long ago, these were top products from leading companies.
Because they failed to adapt to new technologies, they disappeared!
And in some cases, their companies disappeared with them.
I still remember that in the late nineties, every Friday evening after college, we used to stop by Blockbuster to pick up movies for the weekend.
And traveler’s checks?
Even more obsolete!
Just 25 years ago, I remember traveling to a “high-risk country.”
To avoid losing my money in case I got robbed, I took a couple of traveler’s checks with me.
Ah, the good old days!
I have plenty of these stories, and I'm not that old!
When was the last time you signed a check, visited a physical bank branch to transfer money or opened a new account in person?
Some friends outside the quantum computing field tell me that quantum computing advocates use a kind of light "campaign of fear" to promote quantum adoption (similar to how mass media companies have made millions with such strategies).
Even though I hate to use overused phrases, in this case, it is fair to say that when it comes to quantum computing:
"The question is not if, but when.”
Want to dive deeper? My eBook is a great place to start → https://www.ozatp.com/qaf
