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Multiverse and BASF Partner to Research Quantum Use for Foreign Exchange Optimization

At first glance you might wonder why BASF, a large chemical company, would be working with Multiverse Computing to use quantum computing for a financial problem. But on closer look, you would see that BASF is a giant company with 2021 revenues of 78.6billion ($78.2B USD) and operates in over 190 countries. So they need to convert currencies in their operations all the time and even small improvements in the exchange rates that they can achieve could be worth a lot of money. The team started a small 9 month research effort in January 2022 that focused only on the trading between Euros and U.S. dollars. It will be completed shortly and the team will issue a final technical report. Presumably, if this first trial is a success the companies will move on to subsequent phases that may incorporate more currencies or more complicated scenarios. For more about this project, you can read a press release issued by Multiverse that you can access here.

August 23, 2022

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Originally posted here:
Multiverse and BASF Partner to Research Quantum Use for Foreign Exchange Optimization - Quantum Computing Report