Cryptocurrency – A New Way of Securing Venture Financing for Quantum Startups

Not only is quantum computing bringing in a wave of innovation in technology, but new ways of funding are also being explored and we have recently seen two examples of this.

We were recently introduced to Qubit Protocol, an organization that will finance quantum startups through the use of cryptocurrency and a blockchain enabled governance protocol which will use the collective intelligence of the quantum community to make strategic funding decisions. Looking to build your knowledge of this industry, you could look into a site like, to keep up to date with all things in the cryptocurrency media space. Qubit Protocol will be capitalized by an Initial Coin Offering (ICO) of a special cryptocurrency call the Qubit Protocol Token (QPT). The QPT is an ERC20 token compatible with and deployed on the Ethereum blockchain. Unlike a cryptocurrency such as Bitcoin, the QPT will not only represent a claim to assets, but it will also afford voting power and access to the knowledge base of the Qubit Protocol platform. The funding decisions of Qubit Protocol will be based upon democratic votes of the token holders and quantum technology experts. When approved, a quantum startup company will receive their funds in cash (Dollars, Euros, etc.) that they can use for their operations. The current roadmap of Qubit Protocol is to establish procedures and hold their ICO in Q2’2018 and then test their platform with an Early Pilot Program to fund a very small number of quantum startups in Q3’2018. In Q4’2018 they will commence soliciting funding requests for their main round of investments and fully launch their program with a voting period and fundings in Q1’2019. For more details on Qubit Protocol and their plans, you can visit their web site here.

In another development, startup Qilimanjaro is planning on beginning an Initial Coin Offering (ICO) in the next few days for a token they call the QBIT. They will have multiple rounds of offerings with the first Private Pre-Sale round scheduled to start on April 15, 2018. The goal of this first round is to sell 6.75 million of their QBIT tokens at an approximate price of $0.185 per QBIT for a raise of $1.25 million. They will follow this first round quickly with a Public Pre-Sale round that is scheduled to start on May 15, 2018 and have a goal of selling 20.25 million QBITs for about $3.75 million. Additional rounds of token sales will occur after that but have not been scheduled yet. For more details, you can view Qilimanjaro’s white paper that describes some of the specifics of their QBIT offerings on pages 37-40 and you can email for more information on the Private Pre-Sale round that will start on April 15, 2018.