Shoal congratulates our spin-out company, QxBranch, for announcing the launch of a quantum computing simulator developed for the Commonwealth Bank of Australia. The quantum computing simulator runs on existing cloud computing infrastructure and allows users to start developing and testing quantum software applications immediately in anticipation of the availability of quantum computers in the coming years. The plethora of potential applications include risk management, trading, portfolio management, analysis, and security.
QxBranch began as a Shoal research and development project that utilised access to Lockheed Martin’s D-Wave quantum computer to investigate potential applications across industry. Formed as a separate company with professional investor funding in 2014 , QxBranch leverages a heritage in Shoal’s expertise in systems engineering, modelling, and simulation to translate data from complex environments into insight and action.
Commonwealth Bank supports research in the field as part of a commitment to innovation and to stake out global leadership in quantum application development. They are preparing for the arrival of quantum computing, and with the assistance of QxBranch will be well positioned to exploit the accompanying business opportunities.