Remember the good old days when money was actually backed by a physical metal such as gold? It is possible with the Quantum Financial System (QFS). Only gold-backed currencies with a digital gold certificate can participate in QFS transactions. A serial number will be assigned to the gold certificate as a reference to a piece of gold kept in reserve to back the currency. It should be impossible for it to be stolen or removed from the safe vaults where it is kept. This is where the term “gold-backed currency” originates from; it must relate to a piece of gold in the vault that is supporting it.
How does it work?
Quantum banking revolves around quantum-secure blockchain encryption, quantum computing, and quantum cryptography. It is based on quantum physics and employs ‘quantum bits’ or ‘qubits,’ hence, unlike classical computers, it no longer relies on the 0-1 system. QFS is frequently stored and operated on quantum computing-based satellite servers and is built around two quantum computers that collaborate to form a quantum network. Supposedly, this makes it impossible to hack.
Other Components of QFS
- It will include a global network for the transmission of asset-backed money.
- Ensures that banks are monitored and safeguarded in relation to the transfer money process’s agreed-upon contract.
- Independent of the current centralized structure.
- It is not a cryptocurrency, but rather a digital currency backed by assets.
When is QFS Available?
Good Question! I found a wide range of information on the internet as to when. This means to me that it is not up and running yet. This is very interesting financial concept, since my biggest issue with cryptocurrency is it is not based on any type of asset, and it can be hacked. Many feel that this is the solution for financial freedom. For me to get fully on board with this financial system, I would need to know who was pulling the strings behind the curtain.
Photo by Michael Steinberg: https://www.pexels.com/photo/gold-bars-366551/
