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How Gain Bitcoin Swindled Users Out of Over $12 Billion – Bitcoinist

An Indian-based company called Gain Bitcoin was accused of running one of the largest scams in the country. Back in March 2022, authorities shut down this illegal operation that was suspected to steal $3.8 billion or 80,000 from 100,000 victims. This number is larger, according to a recent report.

Related Reading |Crypto Firm Three Arrows Capital Considers Bailout, Hires Financial Advisers

Local authorities record over 40 reports filed by Gain Bitcoin or GainBitcoin victims. The scam stole money from people nationwide. New estimates claim that the illegal operation could have defrauded victims with as much as 600,000 BTC.

The total value of the scams is linked to the price of Bitcoin. The number one crypto by market caps has lost over 60% of its value since 2021 and currently trades at $20,500 with a 31% loss in the past week alone.

One of GainBitcoins main suspects, Amit Bhardwaj was the alleged leader of the operation. However, this suspect died from a cardiac arrest.

His brother Ajay Bhardwaj is the primary suspect after Amits death. Local authorities have attempted to get Ajay to surrender the private keys and password to the crypto wallet which could be holding the stolen funds.

In a trial held in March 2022, Ajay refused to cooperate with authorities. His legal representation argued that the living Bhardwaj lacks the skills to operate a crypto wallet.

Local police enforcement agencies record over 60,000 IDs and email addresses, according to the news media, from potential victims. These people were attracted to the illegal operation due to its yield. Clients were promised a risk-free 10% monthly payment on their BTC deposits.

Those people that agreed to lend their BTC, the report says, were offered bigger monthly payments for taking on more risks. Ultimately, as often happens with these investments, the risk-free option is the most expensive.

The local report claims that Ajay Bhardwaj remains the prime suspect. Other suspects included Magender Bhardwaj and Vivek Bhardwaj, potentially related to the late lead suspect. The report quotes a spokesperson from Indias Enforcement Directorate (ED):

The investigation conducted so far has revealed that Amit Bhardwaj (who died in January this year) with the connivance of petitioner, Vivek Bhardwaj, Mahender Bhardwaj and others i.e, multi-level marketing agents and associates have collected 80,000 bitcoins as proceeds of crime.

Related Reading |BlockFi Mentions That It Liquidated Three Arrows Capital, Heres What We Know!

The ED is yet to track down all the crypto wallets related to the scam. In that sense, they have continued to conduct raids and perform other operations to advance the case which have led them to seize hardware, and other evidence linked to GainBitcoin.

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Bill Gates: Crypto Is 100% Based on Greater Fool Theory ‘I’m Not Involved in That’ Featured Bitcoin News – Bitcoin News

Microsoft co-founder Bill Gates says crypto is an asset class that is 100% based on the Greater Fool Theory. The billionaire also mocked Bored Ape NFTs, stating: Obviously, expensive digital images of monkeys are going to improve the world immensely.

Microsoft co-founder Bill Gates talked about cryptocurrency and non-fungible tokens (NFTs) at this years Techcrunch Sessions: Climate 2022 event Tuesday.

Referring to the Bored Ape Yacht Club NFTs, Gates sarcastically said: Obviously, expensive digital images of monkeys are going to improve the world immensely. Thats so incredible.

He clarified, Im used to asset classes like a farm where they have output or a company where they make products, describing crypto as:

An asset class thats 100% based on some sort of Greater Fool Theory that somebodys going to pay more for it than I do.

The Greater Fool Theory suggests that there will always be a greater fool in the market ready to pay a price based on a higher valuation for an already overvalued investment. However, eventually, when theres no one left willing to pay a higher price, asset prices can decline sharply, leaving investors holding worthless investments.

Gates stressed that he is not getting involved in any asset that at its heart has sort of this anonymity that you avoid taxation or any sort of government rules about kidnapping fees or things. He emphasized:

Im not involved in that. Im not long or short in any of those things.

The billionaire also claimed that the digital banking efforts he supports through his philanthropic foundations are hundreds of times more efficient than cryptocurrencies.

The Microsoft co-founder has long been a critic of cryptocurrency and bitcoin. In May, he said during a Reddit AMA that he does not own any cryptocurrency. I like investing in things that have valuable output, the billionaire explained. The value of crypto is just what some other person decides someone else will pay for it, so not adding to society like other investments.

What do you think about the comments by Bill Gates? Let us know in the comments section below.

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons, lev radin

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Bitcoin Mining Could Be The Answer To Nigerias Inflationary Crisis – Bitcoin Magazine

This is an opinion editorial by Heritage Falodun, a software engineer and co-host of the Bitcoin In Nigeria podcast.

The aim of this work is to give a brief, concise but insightful elucidation around the economic meltdown and environmental degradation in Nigeria, while also proposing Bitcoin mining through renewable energy sources as a solution to those problems.

This document analyzes and showcases the complexity around electrical energy sources that have been explored, and the impact of such exploration to the countrys ecosystem.

Observed available renewable energy sources should be explored for mining Bitcoin in Nigeria in order to spur the nation's growth economically, and concurrently to serve as a reference point for curbing environmental degradation and climatic havoc caused by carbon emissions from fossil fuels and gas.

Bitcoin mining is the process of creating new digital tokens and adding past transaction records to a public blockchain ledger.

Bitcoin mining requires sophisticated hardware, specialized computers called ASIC miners for solving complex math problems, and as a reward, miners earn new bitcoin and collect transaction fees on every valid transaction in the block, which is what has been instrumental in keeping the Bitcoin network active. Miners can be curious individuals or professional mining firms. The bitcoin mining process is ultimately a proof-of-work consensus mechanism.

The first miner to solve a cryptographic puzzle receives bitcoin for expending computing energy and validating the transaction block. Bitcoins pseudonymous founder, Satoshi Nakamoto, originally implemented a limit of one megabyte of transaction data per block.

The inventor of Bitcoin also set a hard limit on bitcoins supply at 21 million bitcoin. Miners have mined more than 90% of the available bitcoin. Every four years, the number of bitcoin awarded for solving new blocks is halved, which is a process known as Bitcoin halving.

This is a feature that is widely believed to corroborate the principles of economics and scarcity. Based on this schedule, it could be a few decades before the final bitcoin is mined. However, these hardware devices that enable Bitcoin mining must be powered by electricity and the mode of generating this electrical energy from different energy sources without causing environmental havoc and climatic degradation is of utmost importance. Generating electrical energy from green and renewable energy sources has been the best option for the Bitcoin mining ecosystem globally.

A study by CoinShares estimated that, as of 2019, at least 74% of cryptocurrencys global energy consumption came from renewables, mostly in the form of relatively cheap, Chinese hydropower.

Bitcoin being a global, decentralized currency which is a censorship-resistant, deflationary asset, as opposed to the inflationary Nigerian naira, means Bitcoin will be the best bet for revitalizing Nigerias economy if consideration are put in place to initiate Bitcoin mining investment powered by the various, unexplored renewable and green energy sources available in Nigeria, one of the leading countries in global Bitcoin adoption.

Nigerias economy remains the biggest economy in Africa, despite the challenges that have been dwindling its growth over the years.

According to Heritage.org:

Nigeria's economic freedom score is 54.4, making its economy the 124th freest in the 2022 Index. Nigeria is ranked 23rd among 47 countries in the Sub-Saharan Africa region, and its overall score is above the regional average but below the world average. In the long-term, Nigeria GDP is projected to trend around 445.00 USD Billion in 2022 and 450.00 USD Billion in 2023, according to our econometric models. The gross domestic product (GDP) measures national income and output for a given country's economy. Nigeria gdp for 2020 was $432.29B, a 3.53% decline from 2019. Nigeria gdp for 2017 was $375.75B, a 7.14% decline from 2016.

However, inflation has been eating deep into the Nigeria economic market, driving the cost of food there up by nearly 26% over the last year.

Fixing carbon emission hasn't played out as a priority for the government agenda in Nigeria yet, as demonstrated by the increasing levels of carbon emissions there. Carbon dioxide emissions stem from the burning of fossil fuels. They include carbon dioxide produced during the consumption of solid, liquid and gas fuels and gas flaring. Nigerias carbon (CO2) emissions for 2018 was 130,670 kilotons (kt), a 15.72% increase from 2017.

Nigeria has the required infrastructure, climate, expertise, as well as human capital to take advantage of renewable energy sources.

In 2018, the share of energy derived from renewable energy sources in primary energy consumption amounted to around 75.4 percent in Nigeria, according to Statista. It is projected that the renewable energy share of total final energy consumption in Nigeria will reach 86.4 percent by 2025.

Solar Energy: According to Solynta Energy, there is an average of 1,885 hours of sunlight per year, with an average of five hours and nine minutes of sunlight per day in Lagos. It is sunny for 43% of daylight hours there.

Solar panels are known to work(although dependent on the design) with an average peak sunlight hour of 3.5 hrs, per Solynta, thus indicating that solar power would be a feasible energy source in a Nigerian city like Laos.

Hydroelectric Energy: To my knowledge, the only major rivers that are being explored for hydroelectric power in Nigeria are the Kanji, Shiroro, Niger and Benue. According to recent research, 32 exploitable hydropower sites have been observed in Nigeria with a total installed capacity of 12.22 gigawatts (GW).

But Nigeria is bestowed with many rivers and natural falls that could favor the initiation of more hydropower systems.

Electricity in Nigeria is generated through thermal and hydropower sources. Most electricity generation in Nigeria comes from fossil fuels, particularly gas, which makes up 86% of the capacity in Nigeria, with the remainder generated from hydropower sources.

A consistent increase in carbon emissions in Nigeria is likely.

Kanji Jebba Power Plc

Hydro

1,330 MW

Ugheli Power Plc

Gas

942 MW

Sapele Power Plc

Gas

1,020 MW

Shiroro Power Plc

Hydro

600 MW

Afam Power Plc

Gas

987.2 MW

Niger Delta Power Holding Company

Gas

5,455 MW

IPPs

Gas

1,392 MW

Egbin Power Plc

Gas

1,020 MW

With the abundance of renewable energy sources in Nigeria, as explained above, Nigeria should consider mining Bitcoin with these energy sources.

Bitcoin ecosystem research released in January by the Bitcoin Mining Council stated that, in the fourth quarter of 2021, the worldwide Bitcoin mining sector was being powered by about 58.5% renewable energy. I believe that Nigeria shouldnt be left out of this emerging market as it stands a chance of boosting its economy.

The mining data shows that a new hybrid model for Bitcoin mining has emerged. Bitcoin miners can easily buy energy from renewable energy providers when energy is abundant, or create a private structure and capital around generating electrical energy from green and renewable energies as part of their setup costs and implementation capital. In so doing, the miners are monetizing renewable assets that would have otherwise been dumped or ignored, while maintaining a generally high uptime and safe environment and contributing to the countrys economy.

Taking a look at an existing mining farm in Alberta, Canada, run by Hut 8 Mining, for example: The bitcoin generated from its first quarter 2022 mining rewards was 942 BTC. If similar mining farms were implemented across 36 locations in Nigeria a reasonable number based on my research into locations where this would be feasible that could yield some 33,912 BTC in one quarter if conditions were the same, worth about $712 million at the time of writing this.

Bitcoin being a deflationary currency which serves as the reward for mining makes it an investment source capable of boosting Nigerias internally-generated revenue with about $2.84 billion per year (based on the $712 million assumption from above, multiplied across four quarters), assuming the government taxed privately-owned Bitcoin mining farms.

But the mining farms must be powered by renewable and green energy sources such as solar energy and hydroelectric energy sources. This will be a perfect way of utilizing the possible electricity that could be generated from an average of 1,885 hours of sunlight per year in places like Laos. Hydroelectric power plants very frequently substitute power generation from fossil fuels, thus reducing issues like acid rain, carbon emissions and smog.

The unexplored, possible electrical energy that can be generated from hydro sources in Nigeria should be developed, and nation states with government-owned and privately-owned Bitcoin mining infrastructure, such as El Salvador, Canada and some parts of the United States, should be considered as reference points in this context.

This is a guest post by Heritage Falodun. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

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Microsoft aims to win the race to build a new kind of computer. So does Amazon – Greater Milwaukee Today | GMToday.com

SEATTLE The tech giants are locked in a race.

It might not end for another decade, and there might not be just one winner. But, at the finish line, the prize they promise is a speedy machine, a quantum computer, that will crack in minutes problems that can't be solved at all today. Builders describe revolutionary increases in computing power that will accelerate the development of artificial intelligence, help design new drugs and offer new solutions to help fight climate change.

Ready. Set. Quantum.

Relying on principles of physics and computer science, researchers are working to build a quantum computer, a machine that will go beyond the capabilities of the computers we use today by moving through information faster. Unlike the laptop screen we're used to, quantum computers display all their inner organs. Often cylindrical, the computers are an intimidating network of coils, plates, wires and bolts. And they're huge.

"We're talking about computing devices which are just unimaginable in terms of their power in what they can do," said Peter Chapman, president and CEO of IonQ, a startup in the race alongside tech giants Microsoft, Amazon, Google, IBM, Intel and Honeywell.

The companies are riding a swell of interest that could grow to $9.1 billion in revenue by 2030, according to Tractica, a market intelligence firm that studies new technologies and how humans interact with tech advancements.

Right now, each company is deciding how to structure the building blocks needed to create a quantum computer. Some rely on semiconductors, others on light. Still others, including Microsoft, have pinned their ambitions on previously unproven theories in physics.

"Bottom line, we are in very heavy experimentation mode in quantum computing, and it's fairly early days," said Chirag Dekate, who studies the industry for research firm Gartner. "We are in the 1950s state of classical computer hardware."

There's not likely to be a single moment when quantum computers start making the world-changing calculations technologists are looking forward to, said Peter McMahon, an engineering professor at Cornell University. Rather, "there's going to be a succession of milestones."

At each one, the company leading the race could change.

In October 2019, Google said it had reached "quantum supremacy," a milestone where one of its machines completed a calculation that would have taken today's most advanced computers 10,000 years. In October last year, startup IonQ went public with an initial public offering that valued the company at $2 billion. In November, IBM said it had also created a quantum processor big enough to bypass today's machines.

In March, it was Microsoft's turn.

After a false start that saw Microsoft retract some research, it said this spring it had proved the physics principles it needed to show that its theory for building a quantum computer was, in fact, possible.

"We expect to capitalize on this to do the almost unthinkable," Krysta Svore, an engineer who leads Microsoft's quantum program, said in a company post announcing the discovery. "It's never been done before. ... [Now] here's this ultimate validation that we're on the right path."

As envisioned by designers, a quantum computer uses subatomic particles like electrons instead of the streams of ones and zeros used by computers today. In doing so, a quantum computer can examine an unimaginable number of combinations of ones and zeros at once.

A quantum computer's big selling points are speed and multitasking, enabling it to solve complex problems that would trip up today's technology.

To understand the difference between classical computers (the computers we use today) and quantum computers (the computers researchers are working on), picture a maze.

Using a classical computer, you're inside the maze. You choose a path at random before realizing it's a dead end and circling back.

A quantum computer gives an aerial view of the maze, where the system can see several different paths at once and more quickly reach the exit.

"To solve the maze, maybe you have to go 1,000 times to find the right answer," said IonQ's Chapman. "In quantum computing, you get to test all these paths all at once."

Researchers imagine quantum computers being used by businesses, universities and other researchers, though some industry leaders also talk about quantum computing as a technology that will unlock new ideas our brains can't yet imagine. (It's not likely the average household will have a quantum computer room any time soon.)

Microsoft recently partnered with paints and coatings company AkzoNobel to create a "virtual laboratory" where it will test and develop sustainable products using quantum computing to overcome some of the constraints that jam up a traditional lab setting, like access to raw materials, lack of space and concerns about toxicity.

Goldman Sachs is working to use quantum computing to speed up risk evaluation done by Wall Street traders. Boeing wants to use the advanced tech to model how materials will react to different environments, while ExxonMobil has plans to use it to simulate the chemical properties of hydrogen, hoping to develop new materials that can be used to make renewable energy.

In the long run, companies are aiming for a "fault-tolerant" quantum computer that will keep operating correctly even if components go awry. To get there, researchers are focused on keeping one thing happy: the qubit.

The computers we use today to look up the best restaurants or check the weather rely on bits, a unit of information in the computing world that is usually a zero or a one. Quantum computers rely on qubits, short for quantum bits, a unit of quantum information that can be (confusingly) both zero and one at the same time.

In a classical computer, a bit flips between zero and one. In a quantum computer, a qubit can be in both states at once, allowing it to simultaneously evaluate different possibilities.

It helps to think about qubits like a spinning coin, said Jim Clarke, director of quantum hardware for Intel. (Clarke himself is so devoted to qubits he named his German shepherd after them.)

While a coin is spinning, it is briefly both heads and tails, before it lands on one side or the other. The electrons used to make quantum calculations in Intel's machines are mid-spin.

But qubits are easily disturbed by pretty much anything, including light, noise and temperature changes. "Qubits are notoriously fickle," said Chapman from IonQ. "They are the introverts of the world."

If a qubit gets too bothered, it will lose the information it is carrying, making the computer's calculations less reliable.

When computer scientists, physicists and engineers think about their quantum strategy, a lot of the discussion revolves around the best way to keep those qubits comfortable. That discussion then sparks another: What is the best way to build a qubit?

Intel is using semiconductors. Google, IBM and Amazon Web Services are using superconductors. IonQ is taking an approach that puts atoms in a vacuum sealed chamber to create something called "trapped-ion" qubits. Other companies are using light.

Microsoft is aiming to create something new. It's taking a physics-based approach to create what it calls "topological qubits." In March, it said it got one step closer by successfully demonstrating the physics behind its qubit philosophy.

But it has said that before. In 2018, a team of Microsoft-led researchers published a paper that said it had found evidence of the type of physics it was looking to prove. Last year, the group retracted the paper, writing it could "no longer claim the observation."

Since then, the Microsoft team developed a new protocol meant to "screen out false positives," said Svore, who is working on the quantum project at Microsoft's Redmond headquarters. "We are more confident than ever in our approach."

"Just like I can't prove the sun comes up tomorrow," Microsoft can't prove it can create the qubits it is hoping for, she said. But, "We've now demonstrated on multiple devices that the physics is here."

Though a competitive race, there may be more than one prize.

"All the technologies have advantages and disadvantages," said Fred Chong, a computer science professor at the University of Chicago. "A lot of these things are still evolving. Some of the technologies are good for the near-to-medium term, some of them are a little bit more in the future, some of them are very far in the future."

Determining the shortest route to get from Seattle to Portland might best be solved by one approach, while speeding up a chemical reaction might call for something different.

Most of the companies in the race today will develop "fairly credible quantum machines," Chong said, and customers will look for ways to "take advantage of their strengths and mitigate their weaknesses."

In the meantime, Amazon, Google and Microsoft are hosting quantum technology from their competitors, alongside their own, hoping to let customers play around with the tech and come up with uses that haven't yet been imagined. In the same way companies can buy cloud space and digital infrastructure technology from Amazon Web Services or Google Cloud, the tech companies now offer customers pay-as-you-go quantum computing.

"At this stage of the tech, it is important to explore different types of quantum computers," said Nadia Carlsten, former head of product at the AWS Center for Quantum Computing. "It's not clear which computer will be the best of all applicants. It's actually very likely there won't be one that's best."

Dekate, who analyzes the quantum industry for research and consulting firm Gartner, says quantum may have reached the peak of its "hype cycle."

Excitement and funding for the quantum industry has been building he said, pointing to a rising slope on a line graph. Now, it could be at a turning point, he continued, pointing to the spot right before the line graph takes a nosedive.

The hype cycle is a five phase model Gartner uses to analyze new technologies, as a way to help companies and investors decide when to get on board and when to cash out. It takes three to five years to complete the cycle if a new tech makes it through.

Predictive analytics made it to phase five, where users see real-world benefits. Autonomous vehicles are in phase three, where the original excitement wears off and early adopters are running into problems. Quantum computing is in phase two, the peak of expectations, Dekate said.

"For every industry to advance, there needs to be hype. That inspires investment," he said. "What happens in these ecosystems is end-users [like businesses and other enterprises] get carried away by extreme hype."

Some quantum companies are nearing the deadlines they originally set for themselves, while others have already passed theirs. The technology is still at least 10 years away from producing the results businesses are looking for, Dekate estimates. And investors are realizing they won't see profits anytime soon.

In the next phase of the hype cycle, Dekate predicts private investment in quantum computing will go down, public investment will go up in an attempt to make up the difference, and companies that have made promises they can no longer keep will be caught flat-footed. Mergers, consolidation and bankruptcy are likely, he said.

"The kind of macroeconomic dynamics that we're about to enter into, I think means some of these companies might not be able to survive," Dekate said. "The ecosystem is ripe for disruption: way too much fragmentation and companies overpromising and not delivering."

In other words, we could be headed toward a "quantum winter."

But, even during the funding freeze, businesses are increasingly looking for ways to use quantum computing preparing for when the technology is ready, Dekate said. While Amazon, Microsoft, Google and others are developing their quantum computers, companies like BMW, JPMorgan Chase, Goldman Sachs and Boeing are writing their list of problems for the computer to one day solve.

The real changes will come when that loop closes, Dekate said, when the tech is ready and the questions are laid out.

"At some point down the line, the classical [computing] approaches are going to stall, and are going to run into natural limitations," he said. Until then, "quantum computing will elicit excitement and, at the same time, disappointment."

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QuantLR Partners With MedOne to Test and Validate a QKD Solution to Protect Against Quantum Computer Attacks – StartupHub.ai

QuantLR Ltd, an Israel-based Quantum Key Distribution (QKD) company, and MedOne, a leading Israeli data center service provider, have announced the successfuloperationofQuantLRs QKD system with MedOnes Data Centerinfrastructurebetween the cities ofTel Aviv andPetah Tikva.

Quantum Key Distribution (QKD) is the onlyproven technology that provides the ultimate level of security fordata in transit, includingsecurity against any attack or eavesdropping attempts by contemporary, future, classical or quantum-based computers. Another threat that is secured by QKD is a hack now- decrypt later attack where the attacker collects the data now and decrypt in a later stage. This puts a sense of urgency in the implementation of QKD.

This quantum-based technology isespeciallyimportant in a data center environment to secure the information to and from the data center, between data centers, and within the data center itself.

The announcement comes following the recent successful testthat was conducted between the MedOne Tel Aviv and MedOne Petah Tikva facilities, over a distance of more than 35km (21.7 miles). Earlier this year QuantLR managed to exchange keys over longer distances.

The test was led by Dr. Nitzan Livneh, QuantLRs CTO, and Eli Saig, MedOnes CTO.

A single fiber strand was used to carry the quantum information as well as C-band data channels, enabling quantum-safe communication for clients without dark fiber. The system created more than ten 256bit symmetric encryption keys per second, without any flaws.

A QKD solution at an affordable price is critical to solve a major upcoming problem: todays networksecurityrelies on public keycryptographythatishighly vulnerable to cracking. The vast majority of encryption keys in the commercial world are distributed via PKI, but new algorithms and advances in quantum computing will soon provide the capabilities to crack most PKI instances, including RSAand Diffie Hellman methods. This issue is well-known, and Quantum Key Distribution is widely considered the most secure solution for long-term data security, as conventional security solutions approach their end-of-life.

We are delighted to collaborate with a leading data center service provider such as MedOne. Data Centers are a very important use case for QKD and we see an increasing demand from leading players in this market, notesDr. Nitzan Livneh, CTO of QuantLR

Data security has become the most important aspect in a data center offering, and we are planning to be the first data center service provider worldwide that will offer a QKD solution to secure its clients data noted Ronnie Sadeh, CEO of MedOne.

AboutQuantLR:Headquartered in Israel, QuantLRaims to provide versatile cost-effective quantum cryptographic solutions based on quantum key distribution (QKD)technology to protect communicated data. This solution is proven to provide the ultimate level of security against any attack by contemporary, future, classical or quantum-based computers. QuantLRs solutions will be offered to the market as a component embedded within communication hardware vendor products, as well as stand-alone products.

About MedOne:MedOne leads Israels data center market, providing comprehensive hosting services to Israels largest organizations. With several underground data centers spanning over 16,000 square meters (172,000 square feet), MedOne provides hosting, backup and business continuity services with the highest SLA, resiliency and the best standard of security.

QuantLR Contact

Shlomi Cohen, shlomi[at]quantlr.com

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What quantum information and snowflakes have in common, and what we can do about it – CU Boulder Today

Qubits are a basic building block for quantum computers, but theyre also notoriously fragiletricky to observe without erasing their information in the process. Now, new research from CUBoulder and the National Institute of Standards and Technology (NIST) may be a leap forward for handling qubits with a light touch.

In the study, a team of physicists demonstrated that it could read out the signals from a type of qubit called a superconducting qubit using laser lightand without destroying the qubit at the same time.

Artist's depiction of an electro-optic transducer, an ultra-thin devicethat can capture and transform the signals coming from a superconducting qubit. (Credit: Steven Burrows/JILA)

The groups results could be a major step toward building a quantum internet, the researchers say. Such a network would link up dozens or even hundreds of quantum chips, allowing engineers to solve problems that are beyond the reach of even the fastest supercomputers around today. They could also, theoretically, use a similar set of tools to send unbreakable codes over long distances.

The study, published June 15 in the journal Nature, was led by JILA, a joint research institute between CU Boulder and NIST.

Currently, theres no way to send quantum signals between distant superconducting processors like we send signals between two classical computers, said Robert Delaney, lead author of the study and a former graduate student at JILA.

Quantum computers, which run on qubits,get their power by tapping into the properties of quantum physics, or the physics governing very small things. Delaney explained the traditional bits that run your laptop are pretty limited: They can only take on a value of zero or one, the numbers that underly most computer programming to date. Qubits, in contrast, can be zeros, ones or, through a property called superposition, exist as zeros and ones at the same time.

But working with qubits is also a bit like trying to catch a snowflake in your warm hand. Even the tiniest disturbance can collapse that superposition, causing them to look like normal bits.

In the new study, Delaney and his colleagues showed they could get around that fragility. The team uses a wafer-thin piece of silicon and nitrogen to transform the signal coming out of a superconducting qubit into visible lightthe same sort of light that already carries digital signals from city to city through fiberoptic cables.

Researchers have done experiments to extract optical light from a qubit, but not disrupting the qubit in the process is a challenge, said study co-author Cindy Regal, JILA fellow and associate professor of physics at CU Boulder.

There are a lot of different ways to make a qubit, she added.

Some scientists have assembled qubits by trapping an atom in laser light. Others have experimented with embedding qubits into diamonds and other crystals. Companies like IBM and Google have begun designing quantum computer chips using qubits made from superconductors.

A quantum computer chip designed by IBM that includes four superconducting qubits. (Credit: npj Quantum Information,2017)

Superconductors are materials that electrons can speed around without resistance. Under the right circumstances, superconductors will emit quantum signals in the form of tiny particles of light, or photons, that oscillate at microwave frequencies.

And thats where the problem starts, Delaney said.

To send those kinds of quantum signals over long distances, researchers would first need to convert microwave photons into visible light, or optical, photonswhich can whiz in relative safety through networks fiberoptic cables across town or even between cities. But when it comes to quantum computers, achieving that transformation is tricky, said study co-author Konrad Lehnert.

In part, thats because one of the main tools you need to turn microwave photons into optical photons is laser light, and lasers are the nemesis of superconducting qubits. If even one stray photon from a laser beam hits your qubit, it will erase completely.

The fragility of qubits and the essential incompatibility between superconductors and laser light makes usually prevents this kind of readout, said Lehnert, a NIST and JILA fellow.

To get around that obstacle, the team turned to a go-between: a thin piece of material called an electro-optic transducer.

Delaney explained the team begins by zapping that wafer, which is too small to see without a microscope, with laser light. When microwave photons from a qubit bump into the device, it wobbles and spits out more photonsbut these ones now oscillate at a completely different frequency. Microwave light goes in, and visible light comes out

In the latest study, the researchers tested their transducer using a real superconducting qubit. They discovered the thin material could achieve this switcheroo while also effectively keeping those mortal enemies, qubits and lasers, isolated from each other. In other words, none of the photons from the laser light leaked back to disrupt the superconductor.

Our electro-optic transducer does not have much effect on the qubit, Delaney said.

The team hasnt gotten to the point where it can transmit actual quantum information through its microscopic telephone booth. Among other issues, the device isnt particularly efficient yet. It takes about 500 microwave photons, on average, to produce a single visible light photon.

The researchers are currently working to improve that rate. Once they do, new possibilities may emerge in the quantum realm. Scientists could, theoretically, use a similar set of tools to send quantum signals over cables that would automatically erase their information when someone was trying to listen in. Mission Impossible made real, in other words, and all thanks to the sensitive qubit.

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What quantum information and snowflakes have in common, and what we can do about it - CU Boulder Today

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Aqemia Announces an Extension of Its First Collaboration With Sanofi About AI and Quantum Physics-driven Drug Discovery in Oncology – Business Wire

PARIS--(BUSINESS WIRE)--Aqemia, the next-gen pharmatech company leveraging artificial intelligence and quantum physics announced, today that it has entered a new research collaboration with Sanofi.

This new agreement is a follow-up to a Research Collaboration initiated at the end 2020 by Sanofi to bring the unique technologies of Aqemia to the design and discovery of novel molecules in several projects in oncology, a priority therapeutic area for Sanofi.

This initial collaboration resulted in promising molecules for an oncology program, for which Sanofi and Aqemia decided to pursue joint efforts.

Aqemia will take responsibility for the AI-based design of optimized molecules that fulfill several small molecule design goals among which potency and selectivity in a priority project in oncology. Unlike most AI-based technologies that need experimental data to train their algorithms prior to starting the design, Aqemia will tackle the drug discovery project by generating its own data with quantum and statistical physics-based calculations.

This collaboration includes an undisclosed upfront payment from Sanofi.

Maximilien Levesque, CEO and co-founder of Aqemia, commented, We are really proud of the results obtained in the first Sanofi-Aqemia oncology collaboration and are very excited to continue working together to accelerate important projects in oncology. He added, This follow-up of our first collaboration project with Sanofi, a global leader in the Pharmaceutical industry, demonstrates our ability to quickly generate novel potent and selective compounds for a given target, and we cant wait to scale it up to dozens of drug discovery projects.

We are also extremely excited by the promising results obtained by Aqemia using their proprietary and disruptive technology to design potent inhibitors on given targets. We are eager to prolong our collaboration to speed up our candidate finding process for the sake of patients suffering from cancer, said Laurent Schio, head of Integrated Drug Discovery of Sanofi France,

About Aqemia

Aqemia is a next-gen pharmatech company generating one of the world's fastest-growing drug discovery pipeline. Our mission is to design fast innovative drug candidates for dozens of critical diseases. Our differentiation lies in our unique quantum and statistical mechanics algorithms fueling a generative artificial intelligence to design novel drug candidates. The disruptive speed and accuracy of our technological platform enables us to scale drug discovery projects just like tech projects.

For more information visit us on http://www.aqemia.com or follow us on LinkedIn

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Aqemia Announces an Extension of Its First Collaboration With Sanofi About AI and Quantum Physics-driven Drug Discovery in Oncology - Business Wire

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What is time? The mysterious essence of the fourth dimension – New Scientist

The nature of time is a tricky notion to pin down. But whether it is a fundamental part of our universe or just an illusion has huge implications

By Richard Webb

Skizzomat

WE ARE BORN; we live; at some point, we die. The notion that our existence is limited by time is fundamental to human experience. We cant fight it and truth be told, we dont know what we are fighting against. Time is a universal whose nature we all and physicists especially fail to grasp. But why is time so problematic? If we had a really good answer to that question, says Astrid Eichhorn, a theoretical physicist at the University of Southern Denmark in Odense, then it wouldnt be so problematic.

On a certain level, time is simple: it is what stops everything happening at once. That might seem flippant, but it is at least something people can agree on. The causal order of things is really what time is all about, says Eichhorn.

Viewed this way, the existence of time can be interpreted as a necessary precondition for the sort of universe where things lead to other things, among them intelligent life that can ask questions, such as what is time?. Beyond that, times essence is mysterious. For instance, why can things only influence other things in one direction in time, but in multiple directions in the three dimensions of space.

Most physical theories, from Isaac Newtons laws of motion to quantum mechanics, skirt such questions. In these theories, time is an independent variable against which other things change, but which cant be changed by anything else. In that sense, time exists outside physics, like the beat of a metronome outside the universe to which everything inside it plays out.

Albert Einsteins theories of relativity, developed in the early 20th century, threw such ethereal notions over a barrel. In relativity, time is a physical, dynamic thing, fused with space to form space-time the fabric of the universe itself. And space-time isnt absolute, but relative, warped by motion and gravity. If you travel fast, or if you are in a strong gravitational field, it slows down.

The relativity of time has wide-ranging consequences. Because there is no unique way of defining its passage, there is no unique way of defining now. Einstein concluded that all nows past, present and future must exist simultaneously, a picture known as the block universe that is completely at odds with our intuitions.

That mismatch occurs because, in our universe, the speed of light is finite. We can only reach certain times within a certain, well, time, so we can never achieve that God-like block-universe view. In practice, causality limits what we can perceive in a very strict way, and our experience and anything that affects us is limited strongly by causality, says cosmologist Katie Mack at North Carolina State University.

The mysteries dont stop there. By making time part of the physical fabric of a universe that, as far as we can tell, began in a big bang some 13.8 billion years ago, Einsteins theory of general relativity implies that time itself had a beginning and perhaps an end, too. There can be no eternal metronome ticking outside the universe as quantum theory implies, because such a source would have to exist outside space and time itself. This sets up a currently unbridgeable divide between relativity and quantum theory. In attempting to cross it, researchers such as Eichhorn hope to make progress towards a more unified picture of physics one that would have to have a very different conception of time.

Many quantum gravity theories propose that if you could zoom in very close to the fabric of Einsteins space-time, to a fine-grained level known as the Planck scale, you would discover a substructure a kind of quantum pixelation. That would open up entirely new possibilities. It may very well be that the quantum structure of space and time is different in the presence of matter than it is if youre just thinking of sort of a universe which contains just space and time, says Eichhorn.

Not everyone thinks we need to go that far. Some see an avenue to finding the nature of time in a better understanding of quantum theory. Or perhaps time is itself a mirage. Like the colour or pattern of a tree leaf, time might be something of no significance, says Mack, the passage of which we invent to make sense of local patterns around us and our own lives.

After all, we never measure time itself, but rather regular changes be it the passage of the seasons, the swing of a pendulum or the oscillation of a caesium atom that we reverse-engineer into some mysterious thing we call time. Its something that we see, and that appears to be there, says Mack. It may not matter to the cosmos.

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Quantum leap: uOttawa partners with TO firm in bid to commercialize high-powered computing technology – Ottawa Business Journal

The University of Ottawa is teaming up with a Toronto-based company to develop and commercialize high-powered quantum computing technology.

The university said this week its signed a memorandum of understanding with Xanadu, one of the worlds leading suppliers of quantum hardware and software, to create new courses aimed at training the next generation of quantum computing experts as well as develop algorithms to make high-speed quantum computers even more powerful.

The one-year agreement, which has the option of being renewed, is expected to take effect in September. Sylvain Charbonneau, the universitys vice-president of research and innovation, said it will make uOttawa a leader in discovering real-world applications for quantum computing.

This partnership will help elevate emerging quantum research by giving our students and researchers access to the cutting-edge technologies and expertise held at Xanadu, he said in a statement.

It has the potential to change lives as we train the next generation of quantum pioneers, and work with industry experts to develop and commercialize real-life applications.

Xanadu will provide an undisclosed amount of funding for the research program. The federal government which last year said it planned to invest $360 million in a national strategy to advance quantum research is also expected to help fund the project.

Combining uOttawa's deep knowledge in quantum photonics with Xanadu's industry-leading expertise in quantum hardware and software will pave the way for tackling today's most important scientific and engineering challenges, Josh Izaac, Xanadu's director of product, said in a statement.

Under the agreement, uOttawa researchers will use Xanadus hardware and software to test quantum computing technology in real-world settings and help find ways of commercializing it.

Charbonneau said Xanadu which was founded in Toronto in 2016 and now employs more than 130 people will also help the school create new quantum diploma and certificate programs that straddle the border between science and engineering.

Quantum computing uses the laws of quantum physics, tapping into the world of atoms and molecules to create computers that are many times faster and more powerful than traditional digital computers.

Charbonneau said the technology has a wide range of applications, including encrypting data to make it more difficult for hackers to crack and creating ultra-powerful sensors for industries such as health care and mining.

The veteran academic said recent market research suggests quantum computing will be an $86-billion industry by 2040.

Its going to be big, he told Techopia on Wednesday afternoon. If youre (the Department of National Defence) and you want to communicate securely between A and B, youre going to use quantum cryptography for sure.

Charbonneau said uOttawa currently has more than 70 faculty members involved in quantum research, from faculties as diverse as engineering, law and physics. About a dozen of them will be part of the universitys quantum research team, and they will be assisted by upwards of 100 graduate and PhD students.

The new deal with Xanadu promises to boost uOttawas growing expertise in the field of quantum research.

The agreement comes seven years after the launch of the Max Planck uOttawa Centre for Extreme and Quantum Photonics. The facility was created to provide a forum for researchers from the university and the Max Planck Society, a non-profit association of German research institutes, to work together on technology such as high-intensity lasers.

Charbonneau said quantum computing is getting closer to becoming mainstream, and uOttawa hopes to lead the pack when it comes to training developers and programmers.

Talent really is the new currency, and were capable of providing it to the ecosystem, he said.

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Emily Williams, Mark Turiansky Win 2021-22 Winifred and Louis Lancaster Dissertation Awards – Noozhawk

How can we better hold environmental polluters accountable? How can we enhance the efficiency of qubits?

These questions, which loom large for the researchers who study them, are the type of big-issue topics UC Santa Barbara graduate students are encouraged to tackle. And theyre the central themes of the dissertations that won the 2021-2022 Winifred and Louis Lancaster Dissertation Awards.

This years recipients are Emily Williams and Mark Turiansky, selected by the awards committee for dissertations with significant impact on the field in terms of methodological and substantive contributions.

As global temperatures rise and communities feel the effects of climate change, how do we as a global society address the uneven distribution of harms and gains?

The tropics, for instance, are already bearing the brunt of sea level rise and ocean acidification, yet they are not the places that have generated the magnitude of carbon emissions that cause these events, nor do they benefit in a proportionate way from the activities that cause these emissions.

Elsewhere around the world, weather events of disastrous proportions are increasing in severity and frequency, clearly caused by anthropogenic activity, yet who exactly do we hold accountable?

Inequalities and blind spots such as these are the type of thing that spark Emily Williams curiosity and activist drive. A long-time environmentalist, she got her first taste of the discipline of environmental studies as an undergraduate at UCSB under the tutelage of the late Professor William Freudenburg.

He opened my eyes to thinking about the causes of climate change, Williams said. She became conscious of the strategies corporations use to justify their actions and their methods of deflection from their outsized contribution to the problem.

Around that time, Typhoon Haiyan, then the most powerful typhoon on record, struck the central Philippines, becoming a strong and real reminder of global warmings effects. But even more compelling for Williams who had become part of a civil delegation to the UN Framework Convention on Climate Change (the international climate negotiations space) was the maddening slowness to address these impacts.

Fast-forward several years, and Williams desire to illuminate the gaps in climate accountability resulted in her dissertation, Interrogating the science of climate accountability: Allocating responsibility for climate impacts within a frame of climate justice. In it, she builds a best practices conceptual framework to identify responsibility for climate impacts.

She then tests it using an empirical case study involving the drought in the greater Four Corners region and the Zuni people who live there.

I had the opportunity to work with very diverse mentors, meaning I got to do the attribution science, engage ethnographic methods, organizational sociology and some science and technology studies-related work, she said. Its certainly hard to do interdisciplinary work, but if you find a group of mentors that will support you in this effort, its fascinating.

Among the things she uncovered in her research is the meteorological concept of vapor pressure deficit and its role on droughts, as a result of increased temperatures.

By linking this fundamental principle to vegetation, Williams and her co-authors were able to estimate what the Four Corners region would look like without climate change, and identify the human fingerprint in this whodunit of global warming.

This ability to definitively attribute effects to human activity can help build a case toward holding polluters accountable, advancing the field of climate justice. Its also what earned Williams the Lancaster Award.

Emilys outstanding integration of theory with qualitative and quantitative methods and her passionate commitment to climate justice truly set her apart, said her adviser, geography professor David Lpez-Carr.

Her dissertation makes a significant contribution to the nascent climate accountability literature by being the first to identify the human contribution to regional climate change and to follow those climate change impacts on vulnerable populations at the local level," Lpez-Carr said.

Her work provides a framework for future researchers and practitioners to advance the important area of climate accountability, with real-world implications for holding those responsible for climate change emissions and for mitigating impacts on vulnerable populations, he said.

I feel so honored and so humbled to have received this award, said Williams, who plans to complete a short post-doc before moving into the nonprofit world for more advocacy work. I know for certain that anyone who gets through a Ph.D. program, with all the challenges and opportunities the program presents, deserves such an award.

"I chose my dissertation topic because I believe so deeply in the importance of ensuring climate accountability work is done within principles of justice. I am just so happy that the selection committee thinks this topic is important, too.

The quantum world holds much potential for those who learn to wield it. This space of subatomic particles and their behaviors, interactions and emergent properties can open the door to new materials and technologies with capabilities we have yet to even dream of.

Mark Turiansky is among those at the forefront of this discipline at UCSB, joining some of the finest minds in the quantum sciences as a fellow at the NSF-supported UCSB Quantum Foundry.

The field of quantum information science is rapidly developing and has garnered a ton of interest, said Turiansky, who developed an abiding interest in physics as a child. In the past few years, billions of dollars of funding have been allocated to quantum information science.

Enabled by relatively recent technologies that allow for the study of the universeat its smallest scales, quantum researchers like Turiansky are still just scratching the surface as they work to nail down the fundamentals of the strange yet powerful reality that is quantum physics.

At the heart of some of these investigations is the quantum defect imperfections in a semiconductor crystal that can be harnessed for quantum information science.

One common example is the nitrogen-vacancy center in a diamond: In an otherwise uniform crystalline carbon lattice, an NV center is a defect wherein one carbon atom is replaced with a nitrogen atom, and an adjacent spot in the lattice is vacant. These defects can be used for sensing, quantum networking and long-range entanglement.

The NV center is only one such type of quantum defect, and though well-studied, has its limitations. For Turiansky, this underlined the need to gain a better understanding of quantum defects and to find ways to predict and possibly generate more ideal defects.

These needs became the basis of his dissertation, Quantum Defects from First Principles, an investigation into the fundamental concepts of quantum defects, which could lead to the design of a more robust qubit the basic unit of a quantum computer.

To explore his subject, Turiansky turned his attentions to hexagonal boron nitride.

Hexagonal boron nitride is an interesting material because it is two-dimensional, which means that you can isolate a plane of the material that is just one atom thick, he said. By shining light on this material, it is possible to detect quantum defects called single-photon emitters by the bright spots that shine back. These single photons, he said, are inherently quantum objects that can be used for quantum information science.

The main feat was identifying the defect that was responsible for single-photon emission, Turiansky said. He accomplished it with computational methodologies that he worked to develop in his research.

One methodology that Ive worked on a lot is for nonradiative recombination, he said, describing it in his paper as fundamental to the understanding of quantum defects, dictating the efficiency and operation of a given qubit.

By applying his methodology, Turiansky was able to determine the origin of these single photon emitters a topic of much debate in the community. Its a feat that could be applied to examine other quantum defects, and one that was deemed worthy of the Lancaster Award.

Marks work has moved the field forward by systematically identifying promising quantum defects, and providing an unambiguous identification of the microscopic nature of the most promising quantum emitter in hexagonal boron nitride, said Turianskys adviser, materials professor Chris Van de Walle. He accomplished this by creatively applying the computational approaches he developed and fruitfully collaborating with experimentalists.

Its really an exceptional honor to receive such a prestigious award for my research efforts over the last five years, Turiansky said. Its even more meaningful knowing the high quality of research turned out at UCSB and the fierce competition of my peers.

"Im incredibly grateful to my adviser, group members, collaborators, friends and family who helped make this achievement possible.

The two Lancaster dissertations are enteres into a national competition sponsored by the Council of Graduate Schools. A check for $1,000 and a plaque will be awarded upon completion of entry for the national competition.

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Emily Williams, Mark Turiansky Win 2021-22 Winifred and Louis Lancaster Dissertation Awards - Noozhawk

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