Quantum Computing and the Internet of Things…a Potential Economic Paradigm Shift

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If you are not a physicist or science fiction fan, you are probably not familiar with the amazing and mind blowing subject of quantum physics. Not only does quantum physics hold the potential for an exponential leap in computing power, but also it may provide answers to some of life’s most perplexing issues such as life, death and consciousness. Although it is a bit of a rigorous subject, it is worth a visit. However, the purpose of this article is to reveal the potential benefits quantum computing can provide. It is a real potential game changer.

Without going into the discussion of what quantum physics is and what it can do, we will just start out by saying quantum computing will be over 100 million times faster than the standard computer and thousands of times faster than today’s super computers. Indeed, it has the potential of solving problems that would take today’s computers hundreds of years to solve in just minutes. It can process complex problems that contain Petabytes of information in less than a minute.

What is one Petabyte[1]:

1015  bytes

20 million 4 drawer filing cabinets filled with text

13.3 years of HD video

8 billion Facebook photos

A 20 petabyte quantum computer can hold all written documents since the outset of human writing-translated into all languages.

There are many who feel that it is actually impossible to comprehend the amount of information a quantum computer could store and process. Moreover, Moore’s law would suppose a doubling of that non-comprehensible amount in 18 months! It is like trying to comprehend the number of stars and the distances in the universe.

The Internet of Things, quantum computing and the meaning of objective “truth”

Quantum ComputingToday, most statistical analysis is done using sampling of a population. It goes without saying that the ability to crunch and analyze whole populations of data would provide a whole new meaning to statistical analysis Sampling of a population implies less error and higher probabilities of outcomes.

The ability to gather huge amounts of data to feed the quantum computing processes is being independently developed with the advent of the Internet of Things (IOT). The combination of these two powerful technologies will change our world. From Medicine to fundamental science, new discoveries based upon godlike computing ability will yield unforeseen benefits to mankind. For example, the recent political season has shown how difficult it is to screen fact from fiction. Having an instantaneous ability to access, filter and analyze the overwhelming amount of information out there should help develop a more accurate picture of our world by filtering out the garbage. When it comes to measuring data, the quality of analysis and outcomes will be much more accurate and less subject to spin and manipulation.

Economics could moves out of the dark

Known as the “dark science,” economics can become central to developing a new economic model based on instantaneous real time data. Human economic behavior could be analyzed free from bias.

For business and economics, the human social infrastructure, the profession of Economics will move from a “dismal science” to a central position in forming the basis for a new economy based on real time data collection from the sources. For example, it will be possible to develop a digital network made up of all points of sale of all products and services in the entire world. This potential new system would allow economists to have a near instantaneous ability to see where economic bubbles are building or other imbalances in economic activity. Indeed, the emotional factors resident in using market pricing will change to represent a more accurate picture of cost and profit. But here is a really cool potential: automatic deduction of taxes at the very point of transaction. This may allow for a simple low flat tax that would be equitable and capture tax revenues before they can be moved into tax shelters or loopholes. But wait! I know what you are thinking.

The fear of central control usually pulls the rug out from under the “One World” concept of government. But one has to ask: Isn’t the world economic system now controlled by other than market forces? I don’t want to get into conspiracy theories but no one can deny that we have a totally opaque global financial system where only the insiders seem to understand how it works. Certainly, low paid regulators don’t have a chance. To deny that the system is rigged is to either be an insider or naive.

Quantum computing and the IOT have the potential to benefit all of us. Information is king but it depends on how it is used and by whom it is used. If we are going to truly pursue the idea of democracy, equality of opportunity and economic justice, these two nascent technologies may offer us real tools to develop a better economic system that works better for more citizens. Yes, there are many possible objections and concerns, but once out of denial that our past capitalist model may need some modifications, we will be able to take the next step in solving the problems that may be in the very process of changing the rules and goals of “the game.”

[1] http://gizmodo.com/5309889/how-large-is-a-petabyte

 

Additional Reading

The Internet of Things: Friend or Foe?

Musings: A Needed Paradigm Shift?

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