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Quantum Computing and why we need to replace the Internet

More believers; loving it!


Video by: Jan-Henrik Kulberg

As we continue to conduct more of our transactions online, consumers, companies and governments put their faith in encryption to protect their private and sensitive data. Once quantum computing becomes a reality, our current encryption methods will quickly become obsolete as quantum computers will be able to easily crack them.

With companies and governments investing heavily in quantum computing, it seems that a fully functioning quantum computer will become a reality in the not too distant future. A machine like that would have no problem cracking the encryption methods used across the Internet today.

Quantum computers will make today’s internet insecure. Therefore, we should consider replacing the current infrastructure now according to Dr. Vadim Makarov. He heads the Quantum Hacking Lab at the Institute for Quantum Computing at the University of Waterloo in Canada.

The biggest and best technology breakthroughs of 2016: From quantum computing leaps to advances in AI – International Business Times UK

If you thought 2016 was an impressive year for quantum; just wait to see what we have in store you in 2017! Google’s new QC device is coming, AI, the efforts on the Web, etc. Yes, indeed 2017 is going to be a fun and interesting year for QC.


This year has been rollercoaster crash for many with numerous tragedies and crises occurring all over the world, but it doesn’t mean that everything was grim in 2016.

Join IBTimes UK as we take a closer look at the many new developments across various fields of technological research, each with the potential to revolutionise human life for the better.

Artificial intelligence Artificial intelligence continues to be a key field of research into developing computers that can think like the human mind iStock.

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Elon Musk gets closer to worldwide internet dream (and all for the same price)

Entrepreneur’s Space X agency files request for $10bn project with the FCC and says internet speeds globally will reach 1Gb/s.

The man who wants to take humans to Mars also wants to connect the whole of planet Earth and bring digital equality across the globe.

Elon Musk’s Space X spacial agency has requested to the US Federal Communications Commission (FCC) authorisation to launch 4,425 satellites which would be used to provide connectivity to the more than 7.2 billion humans on Earth.

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Amazon’s flying warehouses to dispatch drone deliveries from the sky

Amazon has designed a floating warehouse that sits thousands of feet in the air, from which the internet retailer could dispatch swarms of delivery drones to metropolitan areas.

The company has patented futuristic plans for enormous “airborne fulfillment centres” that would be used as bases for aerial deliveries to homes.

Flying at up to 45,000 feet, the warehouses would be suspended by cables from zeppelin-style airships, and stocked with popular items. When a shopper makes an order, an onboard drone would dive down to earth and deliver it, before being sent back up to the station by a shuttle that could also restock and refuel the floating warehouse.

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Byline: Is it Finally Time for Open Security?

One of the distinct advantages of working in the IT industry for over 35 years is all of the direct and indirect experience that brings, as well as the hindsight that comes with that.

One of the more personally interesting experiences for me has been watching the growth and ultimate success of the Open Source Software (OSS) movement from a fringe effort (what business would ever run on OSS?) to what has now become a significant component behind the overall success of the Internet. I was initially reminded of the significance of the Open Source Software movement, and how long it’s actually been around when the technology press recognized the 25th anniversary of the Linux kernel. That, and the decision in January of 1998 by Netscape Communications Corp to release the complete source code for the Communicator web browser, are two of the top reasons for the Internet taking off. Well, the first specification for HTTP helped a little as well, I suppose.

There are, of course, many other examples of OSS software that power the Internet, from the numerous Apache Foundation projects, relational and other database management systems like Postgres, MySQL, MongoDB, and Cassandra. The list of markets and technologies for which there are OSS resources is essentially endless.

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China to beef up research of key components

China makes heaving R&D investments in technologies for telecom and travel industry (namely railway) that reduces China’s dependency on foreign tech companies. Looks like we’re heading more and more into a protectionism world.


China will ramp up investment to develop essential industrial components and materials next year, in a move to reduce reliance on foreign technology in key sectors including telecommunications and railways.

Miao Wei, minister of industry and information technology, said on Monday the ministry will channel more resources to help tackle technological bottlenecks in 20 industrial parts and 15 industrial materials.

The initiative is designed to promote homegrown parts related to telecommunications, the internet of things, railway equipment, machinery manufacturing and other sectors.

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China’s stringent cyber security law; Technological and human rights implications for the world

Hmmm.


Technological and human rights implications for the world

China adopted the highly controversial cyber security law on 7th November 2016. The legislation which will take effect in June 2017 was passed by its largely rubber – stamp parliament emphasizing the ‘objective need’ of China as a major internet power. The stated objective of the law is to counter the growing threats such as hacking and terrorism. Overseas critics of the law are not amused as it has already triggered concerns among foreign business and rights groups that the law threatens to shut foreign technology companies out of various sectors which China deems as ‘critical’. The legislation also incorporates contentious requirements for security reviews and for data to be stored on servers in China.

China recognizes that cyberspace profoundly impacts many aspects of national security; it is a national space; a space for military action, important economic action, criminal action and for espionage. So it controls Internet through the world’s most sophisticated online censorship mechanism infamously known outside China as the Great Firewall. The human rights advocates contend that the law will further tighten restrictions on Internet which is already stifled by highly regulated governmental control. The legislation was in drawing board stage for long. Beijing released the draft Cyber Security Law in July 2015 to make all key network infrastructure and information systems ‘secure and controllable’.

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Artificial leaf could make a medicinal mini-factory

Leaves are kind of like nature’s power plants, converting incoming sunlight into energy for the plant to thrive on. Inspired by the real thing, scientists have previously created artificial leaves that function in much the same way as their natural counterparts to produce electricity and even liquid fuels. Now a team at Eindhoven University of Technology (TU/e) is using a similar system to produce chemicals, which could one day lead to solar-powered “mini-factories” that can produce drugs, pesticides and other chemicals almost anywhere.

To mimic the light-capturing molecules in leaves, the researchers turned to luminescent solar concentrators (LSCs), materials seen in solar-harvesting window technology and used to catch and amplify laser beams carrying data in Facebook’s drone-mounted internet projec t. These LSCs absorb incoming light, convert it to specific wavelengths and then guide the photons to the edges of the device.

The TU/e team’s take on the idea was to create a leaf-shaped device, made from a silicon rubber LSC, with a thin channel running through it like the veins in a leaf. As chemicals are pumped through the channel, the LSC material directs sunlight towards it, and the high intensity of the sunlight can trigger a chemical reaction with the liquid in the channel. Essentially, one substance enters, and by the time it comes out the other end, the device will have converted it into a different chemical, which may be useful as a drug, fuel or other agent.

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Artificial intelligence is going to make it easier than ever to fake images and video

Smile Vector is a Twitter bot that can make any celebrity smile. It scrapes the web for pictures of faces, and then it morphs their expressions using a deep-learning-powered neural network. Its results aren’t perfect, but they’re created completely automatically, and it’s just a small hint of what’s to come as artificial intelligence opens a new world of image, audio, and video fakery. Imagine a version of Photoshop that can edit an image as easily as you can edit a Word document — will we ever trust our own eyes again?

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Bitcoin Arbitrage: Can you profit?

At Quora, I occasionally play, “Ask the expert”. Today, I was asked if the difference between quotes at various Bitcoin exchanges presents a profit opportunity.

In addition to my answer, one other cryptocurrency enthusiast offered pithy, one-line response: He said “Buy local, sell internationally and pocket the difference!” I tend to believe the opposite is more likely to generate profit: Buy internationally and sell locally. But, I am getting ahead of myself. Here is my answer [co-published at Quora]…


Question:
A Bitcoin exchange in my country quotes a different rate than
international markets. Can I profit from the price difference?

Answer:
Buying and selling a commodity with the intention of profiting from the difference in price in various markets, regions or exchanges is called arbitrage. Typically, the item must be widely traded and fungible. Although it can be a tangible item (one that must be delivered or stored, like gold, oil, frozen orange juice or soy beans), arbitrage is more practical when applied to an ‘item of account’, such as foreign currency, equity shares, stock futures, or Bitcoin.

With this in mind, Bitcoin qualifies as a fungible item of account. If you see a different price at vaious exchanges (or if you believe that you can source personal sales at a higher price than the market spot price), then you have found an opportunity for arbitrage. But hold on! It is not so easy…

  1. The arbitrage opportunity is often illusory. For example, the cost difference that you observe in market quotes may be overshadowed by the bid/ask spread or by fees, which can be both fixed and a percentage.
  2. The arbitrage opportunity is transient. It is there for a few seconds and then it vanishes in the next quote. For this reason, successful arbitrage players must be very adept at day-trade techniques. To avoid massive risks, you need up-to-the-second quotes, fast trading tools, and the ability to simultaneously freeze your purchase and sale price.
  3. Trust is never golden! Even with these tools and promises, when a commodity begins to move in either direction, you will find that a buyer or seller often finds a way to renege on the agreed price. These are not random events…When a trading partner abandons a transaction, it always work against you.
  4. Some exchanges (and even some national regulatory agencies) prohibit rapid and repeated trading. This may be to discourage speculation or it may be designed as a circuit-breaker (a mechanism to avert the cascade effect that sometimes results from pre-programmed trades). These halts on quick trades can wipe out your gains, or worse. They can turn your investment into a horrible mess.
  5. Some big exchanges have built-in arbitrage mechanisms that quickly adjust prices and even buy and sell on their own account to keep their limit order books in sync. They are on the front lines and you aren’t! This fact, alone, should suggest give you pause. The opportunities for an outsider are severely limited by these ‘inside’, self-adjusting trades.
  6. Other legal risks: If the transaction is later deemed to be illegal in the jurisdiction of any party, your exchange accounts may be frozen or your privileges revoked. Unlike p2p Bitcoin transactions, exchange transactions can be reversed. Again, these legal snafus will always work against you. In fact, sometimes, they were pre-planned scams from the start!
  7. Finally , there are sometimes good reasons for different prices in different markets. For example, national and local regulations may burden to the consumer cost for an item, or the seller may be required to pay a fee or tax to some authority or regulatory agency. If you dodge these costs, you may be violating laws and subject to penalties or punishment. You may even put your customer at risk.

I am neither an arbitrage player nor a day trader. These are just a few warning bells that come to mind when I think about such activity. You can be sure that this list of risks only scratches the surface. Bitcoin is remarkably fluid and many people flaunt regulations. For this reason, I am confident that opportunities for profitable arbitrage are rare and very tiny (small gain for a big risk).

Have I scared you away from Bitcoin arbitrage? If not, proceed with extreme caution and don’t bet the family ranch! Once you have some experience, come back and post feedback below. I have dabbled in options arbitrage, but never with Bitcoin or any currency. Since I don’t have first-hand experience, your feedback will be appreciated.

Philip Raymond is co-chair of Cryptocurrency Standards Association,
host of The Bitcoin Event (New York), and editor at A Wild Duck.