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Category: finance – Page 141

Money makes the world go round, or so they say. Payments, investments, insurance and billions of transactions are the beating heart of a fractal economy, which echoes the messy complexity of natural systems, such as the growth of living organisms and the bouncing of atoms.

Financial systems are larger than the sum of their parts. The underlying rules that govern them might seem simple, but what surfaces is dynamic, chaotic and somehow self-organizing. And the blood that flows through this fractal heartbeat is data.

Today, 2.5 exabytes of data are being produced daily. That number is expected to grow to 44 zettabytes a day by 2020 (Source: GigaOm). This data, along with interconnectivity, correlation, predictive analytics and machine learning, provides the foundation for our AI-powered future.

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I believe we’re really looking at less than 10yrs given the speed of evolution of QC to date. Instead of two new QC discoveries each year to advance QC; we’re now seeing 2 new discoveries every 2 months now not to mention China and US advancements on networking and communications and scalable QC for devices which Google plans to release their QC device in 2017.

Quantum computers could bring about a quantum leap in processing power, with countless benefits for fields like data science and AI. But there’s also a dark side: this extra power will make it simple to crack the encryption keeping everything from our emails to our online banking secure.

A recent report from the Global Risk Institute predicted that there is a one in seven chance vital cryptography tools will be rendered useless by 2026, rising to a 50% chance by 2031. In the meantime, hackers and spies can hoover up data encrypted using current approaches and simply wait until quantum computers powerful enough to crack the code have been developed.

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Longevity a challenge or an opportunity?

This autumn, The Economist Events will bring global leaders from business, finance and health care together with policymakers to explore the opportunities of an ageing world.

Together they will discuss how best to adapt financial products and realign business and public policies in ways that will drive economic growth and mitigate problems that ageing societies could otherwise bring.

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In 5 years if you’re looking at QC in your future state roadmap; then welcome to the dinosaur age of technology.

BEIJING: China today launched a 712-km quantum communication line, stated to be the worlds longest secure telecommunications network, which boasts of ultra-high security making it impossible to wiretap, intercept or crack the information transmitted through them.

The new quantum communication line links Hefei, capital of Anhui province, to Shanghai, the countrys financial hub.

It is part of a 2,000-km quantum communication line connecting Beijing and Shanghai, according to Chen Yuao, professor at the University of Science and Technology of China (USTC) in Hefei and chief engineer of the Beijing-Shanghai quantum communication line.

Continue reading “China Launches World’s Longest Quantum Communication Line” | >

Tesla completed its $2.6 billion acquisition of SolarCity this week, and, to celebrate, the company has announced a major solar energy project: wiring up the whole island of Ta’u in American Samoa. Previously, the island ran on diesel generators, but over the past year Tesla has installed a microgrid of solar energy panels and batteries that will supply “nearly 100 percent” of power needs for Ta’u’s 600 residents.

The project seems intended to show off the potential benefits of the SolarCity acquisition, with Ta’u’s microgrid comprised of 5,328 solar panels from SolarCity and Tesla, along with 60 Tesla Powerpacks batteries for storage. But buying SolarCity remains a risky move for Tesla, with the purchase including billions of dollars of debt for a company that’s far from profitable (SolarCity spends $6 for every $1 it makes in sales). Nevertheless, Tesla CEO Elon Musk describes the acquisition as “blindingly obvious” — a necessary step in his so-called “Master Plan” to integrate clean energy generation and storage.

The project in Ta’u shows the benefit of this. It was funded by American Samoan and US authorities (including the Department of Interior), and Tesla says it will offset the island’s use of more than 109,500 gallons of diesel per year, as well as the expense of shipping that fuel in. Confusingly, the “Factoring in the escalating cost of fuel, along with transporting such mass quantities to the small island, the financial impact is substantial,” said Tesla in a blog post.

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Planetary Resources, Inc., the asteroid mining company, announced today that it has finalized a 25 million euro agreement that includes direct capital investment of 12 million euros and grants of 13 million euros from the Government of the Grand Duchy of Luxembourg and the banking institution Société Nationale de Crédit et d’Investissement (SNCI). The funding will accelerate the company’s technical advancements with the aim of launching the first commercial asteroid prospecting mission by 2020.

Planetary Resources’ Arkyd 6 is equipped with the first commercially licensed mid-wave infrared imager, an essential tool for detecting water on asteroids. Two spacecraft are completed and will test this technology on orbit. Planetary Resources’ President & CEO Chris Lewicki and Luxembourg’s Deputy Prime Minister Etienne Schneider pictured with the Arkyd 6 in Planetary Resources’ clean room facility in Redmond, Washington.

Core hardware and software technologies developed at Planetary Resources were tested on orbit last year. The company’s next mission, now undergoing final testing, will validate the thermographic sensor that will precisely measure temperature differences of objects on Earth. When deployed on future commercial asteroid prospecting missions, the sensor will acquire key data related to the presence of water and water-bearing minerals on asteroids. Obtaining and using these key resources in space promises to fast-track the development of off-planet economic activities as the commercial industry continues to accelerate.

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