Qubit
In quantum computing, a qubit () or quantum bit (sometimes qbit) is the basic unit of quantum information—the quantum version of the classical binary bit physically realized with a two-state device. A qubit is a two-state (or two-level) quantum-mechanical system, one of the simplest quantum systems displaying the peculiarity of quantum mechanics. Examples include: the spin of the electron in which the two levels can be taken as spin up and spin down; or the polarization of a single photon in which the two states can be taken to be the vertical polarization and the horizontal polarization. In a classical system, a bit would have to be in one state or the other. However, quantum mechanics allows the qubit to be in a coherent superposition of both states/levels simultaneously, a property which is fundamental to quantum mechanics and quantum computing.
Relational quantum mechanics
It is generally well established that any quantum mechanical measurement can be reduced to a set of yes/no questions or bits that are either 1 or 0. RQM makes use of this fact to formulate the state of a quantum system (relative to a given observer!) in terms of the physical notion of information developed by Claude Shannon. Any yes/no question can be described as a single bit of information. This should not be confused with the idea of a qubit from quantum information theory, because a qubit can be in a superposition of values, whilst the "questions" of RQM are ordinary binary variables.