The QBIT theory is an attempt toward solving the problem of consciousness based on empirical evidence provided by various scientific disciplines including Quantum mechanics, Biology, Information theory, and Thermodynamics. This theory formulates the problem of consciousness in the following four questions: (1) What is the nature of qualia? (2) How are qualia generated? (3) Why are qualia subjective? (4) Why does a quale have a particular quality or meaning?In sum, the QBIT theory proposes that (1) when certainty of an observer about an event exceeds a certain level, the observer becomes conscious of that event; (2) consciousness requires Maxwell demon-assisted quantum computation; (3) a quale is a dense pack of meaningful quantum information encoded in maximally entangled pure states; (4) a quale is generated when robustness of an internal representation exceeds a certain threshold; (5) the quality or meaning of a quale is determined by a process of information compression via the matching and unification of patterns; and (6) subjectivity of consciousness is due to the fact that maximally entangled pure states are private and unshareable.