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Urban Clouds
Sep 5

👉Issue #82 of QX Snapshots is out!




Welcome to QX Snapshots - a weekly recap of the key news on emerging technologies. In this newsletter, you will get a "digest" of the latest info on Enterprise Blockchain, AI, Quantum Technology. Hope it brings you value :)


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Every Friday we share key snapshot news on AI, Quantum Technologies, Metaverse, and Enterprise Blockchain/DLT.


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[Blockchain] Swift & Stablecoins for cross-border payments; European Unified Ledger; Infineo’s $100 million in tokenized life; Qatar’s Digital Asset Framework.

Progmat and Datachain have launched Project Pax aiming to develop a cross-border stablecoin transfer platform. The initiative addresses challenges in the $182 trillion cross-border transfer market by leveraging stablecoins for fast, cost-effective, 24/7 transfers. The platform will use Swift's API framework, allowing banks to settle on blockchain networks while addressing regulatory compliance and operational challenges. A pilot test with a prototype is set to begin, with the goal of commercialization by 2025. Meanwhile, François Villeroy de Galhau, Governor of the Banque de France has shared a proposal outlining a phased approach to develop a DLT-based European unified ledger, integrating wholesale CBDC, tokenized commercial bank money, and financial instruments. This infrastructure aims to streamline transactions, reduce risks and costs, and foster Capital Markets Union while preserving the two-tier financial system. Also, infineo has minted $100 million in tokenized life insurance policies on Provenance Blockchain in just three months. They intend to create a transparent, efficient, and accessible market for life insurance using blockchain technology. The tokenized policies are recorded on infineo's Policy Ledger System, ensuring immutable records and streamlining processes. This development is part of infineo's broader strategy to revolutionize the $3 trillion global life insurance industry. The collaboration with Provenance Blockchain Labs highlights the growing potential of blockchain in regulated financial markets. And, Qatar Central Bank, Qatar Financial Centre Authority, and Qatar Financial Centre Regulatory Authority have launched the QFC Digital Assets Framework 2024. This regime establishes the legal and regulatory foundation for digital assets, including tokenization, property rights, custody, transfer, and exchange. It also recognizes smart contracts. The framework aims to create a secure and transparent digital asset ecosystem in line with international standards and is expected to attract domestic and international players.


🎥 Our latest episode of QX Institutional is now available: https://www.youtube.com/watch?v=XGGTKPaQovk



[AI] HyperWrite Unveils Reflection 70B AI Model, Replit Launches AI-Powered Development Agent, xAI Builds World's Largest AI Cluster, and Luma AI Reveals Dream Machine 1.6. HyperWrite has unveiled Reflection 70B, a powerful open-source AI model based on Meta's Llama 3.1-70B Instruct. Developed using Reflection-Tuning, it can identify and correct its own errors, outperforming top closed-source models on various benchmarks. The model separates planning into a distinct step, improving accuracy and conciseness. HyperWrite plans to release an even more powerful 405B version soon. The company used Glaive's synthetic data generation platform to accelerate development. HyperWrite is a Long Island-based AI startup that has raised significant funding. Meanwhile, Replit has launched Replit Agent, an AI-powered tool designed to assist users in building software projects from scratch. The agent can understand natural language prompts, set up development environments, install dependencies, and configure databases. In a demonstration, the agent created a local landmarks app based on location, including search functionality, in just two minutes. The process is transparent, allowing users to learn as the agent works. It can be easily deployed to the cloud without additional configuration. Replit Agent aims to make software development more accessible to users of all skill levels and is currently available in Early Access. Also, Elon Musk's xAI has launched Colossus, a massive AI training cluster with 100,000 Nvidia H100 GPUs. It's set to double to 200,000 GPUs, including 50,000 H200s. The cluster, possibly the largest Gen-AI system to date, is designed to train Grok-3 AI. Power requirements are substantial, with initial concerns addressed by using mobile natural gas generators. The project's first phase is estimated to cost $3-4 billion. When complete, Colossus will likely be the world's largest Gen-AI training cluster. And, Luma AI has released Dream Machine 1.6, an advanced AI video generator offering users 12 specific camera motion controls. This  allows for more precise direction in AI-generated films, addressing a key limitation in AI video production.


[Quantum Technology] U.S. Imposes New Export Controls on Quantum Tech, Quantum Brilliance Partners with Oak Ridge, and SDT Secures $7.47M to Accelerate Quantum Computing in South Korea. The U.S. Commerce Department's Bureau of Industry and Security has implemented new export controls on emerging technologies, including quantum computing, advanced semiconductor manufacturing, and GAAFET technology. These controls align with international agreements to protect national security. A new License Exception IEC allows trusted countries with equivalent controls to avoid licensing requirements. The rule introduces a 60-day compliance delay for quantum items to certain destinations. The measures aim to prevent misuse of advanced technologies by adversaries while fostering innovation among allied countries. Public comments are invited, particularly regarding deemed export policy for quantum items. The controls reflect efforts to balance national security with international collaboration in critical technologies. Meanwhile, Quantum Brilliance and Oak Ridge National Laboratory have announced a strategic collaboration to integrate parallel quantum computing with high-performance computing systems. The partnership aims to explore the on-premises integration of Quantum Brilliance's room-temperature diamond quantum accelerators into ORNL's HPC infrastructure. Key objectives include developing new computational methods for parallel and hybrid quantum-classical computing, creating software tools, and informing the design of future HPC systems. This collaboration represents a significant step towards practical quantum computing applications and demonstrating the benefits of parallel quantum computing. The project is supported by funding from the ACT Government and aligns with Quantum Brilliance's mission to enable mass deployment of quantum technology. Also, SDT, South Korea's only quantum computing company, has secured a 10 billion won ($7.47M USD) pre-IPO investment from Shinhan Venture Investment. SDT plans to commercialize quantum computers, build a quantum cloud data center, and develop quantum processing units. Their goals include completing a 3D array for a neutral atom quantum computer by mid-2025 and a 64-qubit superconducting quantum computer by mid-2026. 


[General technology] KTLVdoor Cross-Platform Malware Hits Trading Firm, Contagious Interview Campaign Exploits Job Seekers, and Rocinante Trojan Targets Brazilian Banking Apps.  A new cross-platform malware called KTLVdoor, written in Golang, has been discovered in an attack on a trading firm. The malware, used by the threat actor Earth Lusca, can target both Windows and Linux systems. It impersonates various system utilities and allows attackers to manipulate files, execute commands, and perform remote port scanning. Over 50 command-and-control servers, all hosted by Alibaba, have been identified as communicating with the malware. KTLVdoor is highly obfuscated and named after its "KTLV" marker in the configuration file. The malware's distribution method and global targets remain unclear, but it may be shared with other threat actors. Meanwhile, a threat actor is targeting job seekers with a fake Windows video conferencing app impersonating FreeConference.com. This is part of the "Contagious Interview" campaign, which uses phony job interviews to trick victims into downloading malware. The latest attack uses a Windows installer (FCCCall.msi) to deploy the BeaverTail downloader and CivetQ, a set of Python scripts for stealing data. The FBI has warned of North Korean actors aggressively targeting the digital assets and crypto industry with sophisticated social engineering attacks. Also, a new Android banking trojan called Rocinante is targeting mobile users in Brazil. Developed by a threat actor known as DukeEugene, it masquerades as legitimate banking apps to steal sensitive data. Rocinante uses accessibility services for keylogging and can perform device takeover. It's distributed through phishing sites and sends stolen data to a Telegram bot. The malware shows similarities to ERMAC, possibly due to a 2023 source code leak. In related news, Symantec reported a separate banking trojan campaign targeting Spanish and Portuguese-speaking regions, and a new "extensionware-as-a-service" offered through an updated Genesis Market was discovered, targeting Mexico and other LATAM countries.




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