Quantum computing stocks like Arqit Quantum (NASDAQ:ARQQ), Rigetti Computing (NASAQ:RGTI) and Quantum Computing (NASDAQ:QUBT) are in full focus today after the White House announced measures to boost quantum computing technology in the United States. Today, President Joe Biden will sign an executive order that will place the National Quantum Initiative Advisory Committee under White House control. As a result, the White House will have direct access to the committee and the latest information.
The White House will also announce a series of directives to support quantum technology and help boost cybersecurity to defend against cyberattacks. Essentially, as countries like China invest billions into quantum technology, the U.S. does not want to fall behind.
Quantum computers differ from standard computers in that they can perform many calculations at the same time. So, with that in mind, let’s go into the details of Biden’s latest proposals.
ARQQ, RGTI, QUBT Stocks: White House Prepares for New Era of Quantum Computing
In addition to the order, Biden will sign a national security memorandum “outlining the administration’s plan” to enhance U.S. cybersecurity. Research shows that quantum computers will soon be able to break through cryptography measures that support internet communications.
According to Reuters, an official from the White House stated the following:
“The presidential directives being released will help us balance the scientific and economic imperatives to move fast with our obligation to protect our people, communications and investments.”
Quantum computing has several potential beneficial uses. While currently not employed in electric vehicles (EV) due to technological limitations, a “quantum battery” could possibly speed up charging times.
Currently, even today’s fastest commercial chargers take 20 to 40 minutes to fully charge an EV. Plus, it usually takes around 10 hours to charge an EV at home. Meanwhile, it typically takes just minutes to fill up a tank of gas. As a result, current users may see charging times as a burden. Quantum batteries could potentially fix that.
Still, the process to strengthen quantum technology will also take some time. The White House has said as much: “[T]he process to transition America’s most vulnerable IT systems to these new standards will take time, resources and commitment.”
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On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.