Quantum Computing-Based Banking System

In this work a quantum computing-based banking system has been proposed using a quantum blockchain model. The digital currencies which are qubits are used to purchase commodities in online platforms. The qubits are stored in quantum wallets. The qubits have a tag id to identify the buyer and seller. Each qubit has a phase angle to check the authenticity of the transaction. The qubit also has the information of the currency for the transaction. The quantum banking system checks the price of the commodity and the value of the qubit currency if matched the commodity is shipped to the customer. The quantum computing-based banking system yields a reliability for authentic transactions and unique transactions of 32% and 42%, respectively, compared to conventional blockchain networks.