The Prospects of Quantum Computing for Quantitative Finance and Beyond

Abstract

Quantum computation holds the promise of highly efficient algorithms, provides exponential speedups for specific technologically significant problems, plays the most promising role in quantum technological progress, and has transformative potential in numerous industry sectors. In quantum computing, finance is recognized as one of the most beneficial areas because of the potential for many financial cases that can be solved by quantum algorithms suitable for noisy-intermedia-scale quantum(NISQ) computers. The benefits of quantum computing are colossal time and computational memory reduction with which the computational tasks are performed, which leads to the accuracy of the computations. This paper presents a comprehensive summary of quantum computing for traditional and Blockchain financial applications.