WEBVTT NOTE Automatic captions with corrections to names and technical terms. May contain transcription errors. 00:00:00.000 --> 00:00:05.540 All right, so yeah, we'll start with an introduction, and then we'll kick things 00:00:05.540 --> 00:00:05.780 off. 00:00:06.100 --> 00:00:06.380 That's good. 00:00:06.540 --> 00:00:06.780 Perfect. 00:00:09.100 --> 00:00:11.160 And could you introduce yourself? 00:00:11.620 --> 00:00:15.220 Hi, my name is Colton Dillion, and I'm the CEO at Postquant Labs. 00:00:15.800 --> 00:00:19.260 And I'm Richard Carback, and I'm the CTO of Postquant Labs. 00:00:19.560 --> 00:00:21.420 And together, we're building Quip Network. 00:00:25.880 --> 00:00:28.900 Put those chairs so that people can't do that. 00:00:29.160 --> 00:00:29.300 Yeah. 00:00:30.000 --> 00:00:30.640 Perfect. 00:00:32.000 --> 00:00:32.600 Yeah, yeah. 00:00:33.120 --> 00:00:33.940 All right, take two. 00:00:36.860 --> 00:00:37.720 Okay, again? 00:00:37.900 --> 00:00:38.060 Yeah. 00:00:38.300 --> 00:00:38.940 Three, two. 00:00:39.840 --> 00:00:43.620 Hi, my name is Colton Dillion, and I'm the CEO of Postquant Labs. 00:00:43.800 --> 00:00:45.920 And my name is Richard Carback, and I'm the CTO. 00:00:46.560 --> 00:00:49.900 And together, we're building Quip Network, the worldwide quantum computer. 00:00:51.600 --> 00:00:55.540 All right, so the first theme is, why now, not later? 00:00:55.540 --> 00:01:02.340 Why the quantum conversation belongs in 2026, rather than some undefined future day? 00:01:03.260 --> 00:01:11.730 Yeah, so when we got started back in 2024, we actually put together a really dumb 00:01:11.730 --> 00:01:17.240 model at quantumdoomclock.com, where we brought together all of the performance 00:01:17.240 --> 00:01:21.280 characteristics of the different quantum machines that were commercially available. 00:01:21.280 --> 00:01:26.160 And we said, what if all of these different pieces were going to grow on an 00:01:26.160 --> 00:01:27.720 exponential curve? 00:01:27.720 --> 00:01:32.320 When should we expect quantum computers to be good enough that they could break 00:01:32.320 --> 00:01:33.480 cryptography? 00:01:33.480 --> 00:01:39.270 And so we looked at all of these segments of exponential growth, and we basically 00:01:39.270 --> 00:01:45.810 determined that in March 2028, there was a really good chance that we were going to 00:01:45.810 --> 00:01:50.080 have a cryptographically relevant quantum computer. 00:01:51.200 --> 00:01:57.780 And, you know, IonQ, just a few weeks ago, published technical documents saying 00:01:57.780 --> 00:02:05.840 that they would have enough qubits to break Bitcoin secp256k1 by mid-2028. 00:02:05.840 --> 00:02:09.060 So if they stay on track, the time is now. 00:02:09.880 --> 00:02:14.120 Yeah, right now you have roughly about 18 months before we enter a gray period, 00:02:14.120 --> 00:02:17.620 where you may or may not be vulnerable to a quantum computer. 00:02:18.100 --> 00:02:18.780 That's pretty scary. 00:02:19.360 --> 00:02:23.840 And there's, just to expand on what Colton said, there's two factors at play. 00:02:23.960 --> 00:02:27.210 There's the error rate, which is going down, and then there's the exponential 00:02:27.210 --> 00:02:29.420 growth of the number of qubits on the machines. 00:02:31.880 --> 00:02:33.160 Oh, sounds good. 00:02:33.160 --> 00:02:35.220 Let's go to the second key. 00:02:37.140 --> 00:02:42.730 Second one is, collect now, decrypt later, and crypto data can be stored today and 00:02:42.730 --> 00:02:45.660 open once the machines are strong enough. 00:02:46.080 --> 00:02:48.280 So the risk starts before the machine arrives. 00:02:49.580 --> 00:02:53.880 Yeah, your chance to not be vulnerable against, technically it's called harvest now, 00:02:53.880 --> 00:02:55.040 decrypt later. 00:02:55.760 --> 00:02:58.240 HNDL is what the industry typically calls it. 00:02:58.880 --> 00:03:03.900 And your chance to deal with that was about 10 years ago in 2015 or so. 00:03:04.460 --> 00:03:06.560 And that time has pretty much passed. 00:03:06.700 --> 00:03:11.150 At this point, you should be very concerned about the signature algorithms, which 00:03:11.150 --> 00:03:12.920 are also vulnerable to the quantum computers. 00:03:13.620 --> 00:03:18.230 And they do not, they are not, they are not, they are not, they're not protecting 00:03:18.230 --> 00:03:20.100 the privacy of anything. 00:03:20.500 --> 00:03:24.030 So if you have data and you want to protect the privacy of it, you really need to 00:03:24.030 --> 00:03:26.920 be doing that post-quantum encryption yesterday. 00:03:27.420 --> 00:03:31.770 And if you have, if you want to protect your funds, or if you're trying to start 00:03:31.770 --> 00:03:35.770 like a real estate contract or something like that, that's going to last more than 00:03:35.770 --> 00:03:39.420 five years, you really need to be using a post-quantum solution today. 00:03:40.940 --> 00:03:42.620 I don't really have much to add to that. 00:03:42.620 --> 00:03:47.980 I, the, the wonderful thing about this is, is that you do have an opportunity to 00:03:47.980 --> 00:03:50.940 move into new keys or to rotate your keys. 00:03:51.360 --> 00:03:53.740 But the key thing is that you need to start planning now. 00:03:54.380 --> 00:03:58.370 If you ask governments around the world, they're saying everybody should be 00:03:58.370 --> 00:04:00.080 migrated by 2030. 00:04:00.580 --> 00:04:05.320 And, uh, so that's not a lot of time if you run a critical application, you should 00:04:05.320 --> 00:04:07.840 be thinking about what's your plan to get moving today. 00:04:15.640 --> 00:04:29.290 Yeah, so, uh, basically quantum computers vary in size and capabilities, in, uh, 00:04:29.290 --> 00:04:32.540 sort of the rate at which errors accumulate on the machines. 00:04:32.940 --> 00:04:37.080 And so, uh, depending on which manufacturer you go to, they may have very different 00:04:37.080 --> 00:04:38.940 performance characteristics. 00:04:39.540 --> 00:04:43.600 But what we can say is that we're just starting to hit this point where quantum 00:04:43.600 --> 00:04:48.760 computers can do things that the largest computer clusters in the world cannot, uh, 00:04:48.760 --> 00:04:49.740 stand up to. 00:04:50.100 --> 00:04:54.180 And so, uh, if you have one of these applications that quantum computers excel at, 00:04:54.180 --> 00:05:01.760 things like simulating molecular, uh, dynamics, things like, uh, generating, uh, 00:05:01.760 --> 00:05:06.300 quantum circuits and, and providing randomness from those quantum circuits, things 00:05:06.300 --> 00:05:08.040 like combinatorial optimization. 00:05:08.220 --> 00:05:13.170 We're just starting to hit that inflection point where quantum computers are outperforming 00:05:13.170 --> 00:05:14.980 very large clusters of GPUs. 00:05:15.260 --> 00:05:20.700 And the weird thing about this is that they have exponential growth in terms of the 00:05:20.700 --> 00:05:22.960 capabilities of the machines. 00:05:23.200 --> 00:05:28.640 And so the difference between, uh, a quantum computer that you can simulate on your 00:05:28.640 --> 00:05:33.140 laptop is say 30 qubits versus a quantum computer that can't be simulated by the 00:05:33.140 --> 00:05:36.520 largest machines in the world is as small as 60 qubits. 00:05:36.780 --> 00:05:42.710 And so, you know, right now, a lot of the commercially available, uh, hardware is 00:05:42.710 --> 00:05:44.940 in that 36 qubit range. 00:05:45.160 --> 00:05:49.580 Uh, you know, maybe they have 90 qubits or 256 qubits, but they're not fully 00:05:49.580 --> 00:05:50.380 connected. 00:05:50.780 --> 00:05:54.630 And so the next generation of hardware is where we're really going to blow that out 00:05:54.630 --> 00:05:59.740 of the water, where you have 96 qubit machines, 150 qubit machines that are fully 00:05:59.740 --> 00:06:03.760 connected and you cannot simulate them with the largest computers on earth. 00:06:04.580 --> 00:06:07.800 So those 150 qubit machines that Colton's talking about, they're not, they're not 00:06:07.800 --> 00:06:09.820 what's going to be breaking your crypto. 00:06:10.220 --> 00:06:14.280 It'll be the machines that are released in 2028 that are projected to hit about 20,000 00:06:14.280 --> 00:06:15.680 to 50,000 qubits. 00:06:16.440 --> 00:06:20.550 And in terms of what the quantum computers can do today, I would really focus on 00:06:20.550 --> 00:06:23.840 what we, what you can do with Quip Network today. 00:06:23.840 --> 00:06:28.440 And that is you can run a suite of these types of optimization problems. 00:06:28.580 --> 00:06:33.040 If you go to our website, you'll find, uh, an example called Qubitrefill that lets 00:06:33.040 --> 00:06:37.460 you, that helps you buy gift cards with crypto and select what asset in your asset 00:06:37.460 --> 00:06:40.680 portfolio is the best one to sell at the current time. 00:06:40.680 --> 00:06:44.670 And that's a portfolio, uh, asset optimization problem, which is a really good 00:06:44.670 --> 00:06:46.800 example of the types of things you can do. 00:06:47.200 --> 00:06:49.060 You can do some of this stuff classically. 00:06:49.060 --> 00:06:53.720 So what we see is the shape of the problem has to be amenable to a quantum computer 00:06:53.720 --> 00:06:59.160 and specifically the shapes that, that are really helpful right now are these, what 00:06:59.160 --> 00:07:00.400 we call rigid topologies. 00:07:00.400 --> 00:07:02.200 And we'll be publishing work on that very soon. 00:07:02.680 --> 00:07:05.860 The other thing that you can do right now is verifiable random number generation. 00:07:06.100 --> 00:07:08.120 There's a very good paper on the internet. 00:07:08.480 --> 00:07:12.060 Uh, I think it's called how to, how to do verifiable random number generation with 00:07:12.060 --> 00:07:13.240 a quantum computer. 00:07:13.540 --> 00:07:15.040 Again, that's cited on our website. 00:07:15.280 --> 00:07:18.840 We've codified that into a product where you give the quantum computer a challenge 00:07:18.840 --> 00:07:21.820 and you say, well, you have to respond within so many blocks. 00:07:22.060 --> 00:07:26.850 And if it's able to do that response, you know, that a classical computer hasn't 00:07:26.850 --> 00:07:32.200 been able to simulate that and the result of this random circuit, uh, sampling 00:07:32.200 --> 00:07:35.060 operation is a verifiable random result. 00:07:38.060 --> 00:07:43.130 Um, why so like why, what is Quip looking for in Korea and the wider Asia and why 00:07:43.130 --> 00:07:48.060 did you guys choose KBW to come and do things like that? 00:07:48.300 --> 00:07:53.330 Yes. Uh, so when we say worldwide quantum computer, we mean worldwide, uh, every 00:07:53.330 --> 00:07:57.960 single region on earth should be a part of this network and should be able to 00:07:57.960 --> 00:08:01.500 contribute to it and to get advantage from these machines. 00:08:01.860 --> 00:08:06.620 Uh, Seoul is actually very cutting edge in terms of taking advantage of some of 00:08:06.620 --> 00:08:10.380 these quantum computers, uh, Joseon university. 00:08:10.380 --> 00:08:14.630 And, uh, I believe South Korea university, uh, both have their own quantum 00:08:14.630 --> 00:08:15.480 computers. 00:08:15.480 --> 00:08:19.440 And so there's already this capability here in South Korea. 00:08:19.620 --> 00:08:23.800 And we want to make sure that we include this community as we build out this open 00:08:23.800 --> 00:08:29.300 source software and as we build out the, uh, availability of these other computers 00:08:29.300 --> 00:08:31.080 that may not be available locally. 00:08:31.440 --> 00:08:36.350 And so, you know, why KBW there's no better time if you're in distributed systems 00:08:36.350 --> 00:08:41.440 to get involved with researchers, with, uh, really passionate people who are ready 00:08:41.440 --> 00:08:44.460 to develop on these open source distributed networks. 00:08:44.640 --> 00:08:50.380 And, uh, we thought it was a great opportunity to, uh, arrive here as a large 00:08:50.380 --> 00:08:56.760 community was coming together to enjoy, uh, sort of the fruit of all of this 00:08:56.760 --> 00:09:02.700 development that goes on in crypto, in, uh, web three and in these distributed 00:09:02.700 --> 00:09:03.280 systems. 00:09:05.480 --> 00:09:06.820 I don't, uh, I don't have anything to add to that. 00:09:06.820 --> 00:09:07.080 Okay. 00:09:07.080 --> 00:09:07.140 Okay. 00:09:07.140 --> 00:09:14.090 So what comes next, um, what are you guys building towards and what builders and 00:09:14.090 --> 00:09:15.820 funds should be looking forward to? 00:09:16.460 --> 00:09:16.760 Yeah. 00:09:16.760 --> 00:09:20.750 So, uh, you know, the main thing that we're building right now is the smart 00:09:20.750 --> 00:09:23.260 contract language for the Quip virtual machine. 00:09:23.260 --> 00:09:27.590 Uh, we're hoping that developers will be able to use this to more easily get up to 00:09:27.590 --> 00:09:29.480 speed with quantum computing. 00:09:29.480 --> 00:09:34.710 And it won't take you a five year PhD or doctorate to, uh, sort of understand what's 00:09:34.710 --> 00:09:39.280 going on and get your first good results from the machine over time. 00:09:39.280 --> 00:09:44.010 We hope that we are actually building entanglement into the network and that the 00:09:44.010 --> 00:09:49.140 way you get access to the most powerful systems in the world is by trusting quip 00:09:49.140 --> 00:09:50.700 network with your computation. 00:09:50.700 --> 00:09:53.580 And so, you know, we're looking for collaborators. 00:09:53.580 --> 00:09:59.360 We're looking for, uh, developers to help us build this vision and for operators of 00:09:59.360 --> 00:10:03.040 these computers to join the network and to benchmark the machines. 00:10:03.040 --> 00:10:05.500 And we hope that everyone will join us for that ride. 00:10:07.600 --> 00:10:10.930 I'm going to answer a different question than you asked, which is what am I most 00:10:10.930 --> 00:10:12.300 excited about? 00:10:12.780 --> 00:10:17.660 Uh, and I am most excited about the different types of things we'll be able to 00:10:17.660 --> 00:10:21.300 expose to people because now it becomes available to them. 00:10:21.300 --> 00:10:26.090 Uh, much like when computing was first invented, it was only a select few that 00:10:26.090 --> 00:10:27.180 could use it. 00:10:27.180 --> 00:10:30.180 And we're really hoping to be able to bring that to regular people. 00:10:30.180 --> 00:10:34.170 I expect that you'll be able to use quantum computers to optimize your fantasy 00:10:34.170 --> 00:10:39.710 football team, uh, in addition to the, the bit refill example, uh, in the very near 00:10:39.710 --> 00:10:40.140 future. 00:10:40.140 --> 00:10:44.870 And I hope that will encourage people to not only, you know, participate on the 00:10:44.870 --> 00:10:49.620 network by using it, but also participate by, you know, buying one of these smaller 00:10:49.620 --> 00:10:53.020 quantum computers and then helping to mine on the network or, you know, just 00:10:53.020 --> 00:10:53.860 lending us a GPU. 00:10:53.860 --> 00:10:57.060 If you have spare compute capacity to help simulate some of this stuff, because 00:10:57.060 --> 00:10:58.860 that's a big part of what we do right now. 00:10:59.700 --> 00:11:05.130 And, you know, to add onto that, uh, the original purpose of classical computing 00:11:05.130 --> 00:11:07.220 was breaking cryptography. 00:11:07.620 --> 00:11:10.990 And so a lot of people are really focused on, oh man, the quantum computers are 00:11:10.990 --> 00:11:12.700 going to break cryptography. 00:11:12.940 --> 00:11:16.930 But that's exactly how we started with classical computing and the world evolved 00:11:16.930 --> 00:11:19.740 once they saw that that threat was a capability. 00:11:20.020 --> 00:11:25.300 And very few people could have foreseen all of the magic of the internet, of AI, 00:11:25.300 --> 00:11:28.720 all of the wonderful things that we take for granted today that came out of 00:11:28.720 --> 00:11:29.220 classical computing. 00:11:29.220 --> 00:11:33.560 And we really see that it's going to be the exact same thing with quantum where, 00:11:33.560 --> 00:11:37.000 you know, it might be scary right now, but there's also a whole world of 00:11:37.000 --> 00:11:39.300 opportunity out there that's waiting for you to explore it. 00:11:39.300 --> 00:11:43.140 So we hope you'll join us and come explore that opportunity. 00:11:43.140 --> 00:11:48.360 Now, I'll just point out that the way it breaks cryptography is solving this 00:11:48.360 --> 00:11:49.820 problem called the hidden subgroup problem. 00:11:49.820 --> 00:11:55.390 Cryptographers know it as a discrete log problem, but that hidden subgroup problem 00:11:55.390 --> 00:11:59.230 has a lot of actual real world application in terms of if you can identify subgroups 00:11:59.230 --> 00:12:04.040 in these larger groups in mathematical systems, then you have this ability to 00:12:04.040 --> 00:12:08.100 potentially simulate different parts of the environment. 00:12:08.100 --> 00:12:12.100 Do drug discovery better, do drug discovery better, there's all kinds of things, 00:12:12.100 --> 00:12:20.140 use cases that this can apply to.