top of page
Urban Clouds
7 days ago

👉Issue #87 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 :)


If you are interested in emerging technologies and you like what you read, consider subscribing to our newsletter on LinkedIn!


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


Join our +500 trusted readers at U.S Bank, Eurasian Development Bank, EY, Morgan Stanley, BNY Mellon, Microsoft, Verizon, Facebook, ServiceNow, ConsenSys, Polygon Labs, Duke University, Sky, Informa, Freshfields Bruckhaus Deringer, Santander, and others.





[Blockchain] Stripe Stablecoin Payments Success in 70 Countries, Citi Unveils 24/7 Tokenized Cash Services, Midas Expands Access to Tokenized T-Bills in Europe, and CACEIS Enables Ethereum-Based Fund Subscriptions. Stripe's new stablecoin payment option gained rapid adoption across 70 countries on its first day. The company now supports USDC and USDP on multiple blockchains, converting payments to USD and charging a 1.5% fee. Stripe's product lead emphasized meeting businesses' needs for expanded customer reach and lower costs. The move aligns with Stripe's recent partnership with Coinbase, integrating fiat-to-crypto services between platforms. Meanwhile, Citi has launched Citi Token Services for Cash as a live commercial solution, facilitating multimillion-dollar transactions for institutional clients. This service uses Distributed Ledger Technology and smart contracts to provide 24/7 cross-border liquidity and payments. Additionally, Citi Token Services for Trade has conducted pilot transactions with shipping agents, aiming to streamline trade finance processes. The technology replaces traditional trade finance instruments with smart contracts and tokenized cash, potentially reducing transaction times from days to minutes. Also. Midas, a real-world asset platform, has expanded access to its tokenized U.S. Treasury bills and yield-bearing carry trade products for retail users in Europe. After obtaining regulatory approval in Liechtenstein, Midas removed the $100,000 minimum investment requirement and investor accreditation process for its mTBILL and mBASIS tokens. The products will be passported across Germany and Europe, making them globally accessible except in the U.S. and sanctioned countries. This move positions Midas as the only RWA issuer offering regulatory-compliant, permissionless tokens without minimum thresholds. The tokenized T-bill market has grown significantly, tripling to $2.3 billion in a year, with Midas's products gaining traction among investors seeking steady yields on blockchain platforms. And, CACEIS has enabled client subscriptions into the first French UCITS money-market funds with units natively issued on Ethereum Mainnet. 



[AI] OpenAI Launches MLE-Bench to Evaluate AI's ML Engineering Skills, AI-Driven Gmail Phishing Attack Emerges, and Walmart Prepares to Deploy Retail-Focused LLMs. OpenAI has introduced MLE-bench, a new benchmark for evaluating AI agents' machine learning engineering skills. It uses 75 Kaggle competitions to test abilities in training models, preparing datasets, and running experiments. Human baselines are established using Kaggle leaderboards. The best-performing setup, OpenAI's o1-preview with AIDE scaffolding, achieves at least a bronze medal in 16.9% of competitions. The benchmark investigates resource-scaling and pre-training contamination impacts. Open-sourced code facilitates further research. MLE-bench aims to deepen understanding of AI agents' capabilities in ML engineering tasks, contributing to the safe deployment of more powerful models in the future. The benchmark uses public data and emphasizes ethical AI development. Meanwhile, a sophisticated AI-driven Gmail phishing attack has been reported, involving fake account recovery notifications and realistic AI-generated phone calls. The scam uses spoofed Google phone numbers and convincing email communications to trick users into believing their account has been compromised. The attacker's goal is likely to capture login credentials and bypass two-factor authentication. Key red flags include unsolicited calls from "Google support" and urgency to act. Users are advised to stay calm, verify information independently, and never rush into providing sensitive data. This incident highlights the evolving nature of AI-powered phishing attempts and the importance of vigilance in protecting personal accounts. Meanwhile, Walmart is testing Wallaby, its own suite of retail-focused large language models (LLMs) trained on decades of company data. While not yet in use, Wallaby is expected to be deployed within the next year, initially for consumer-facing applications. Walmart uses a platform called Element to manage various AI models, including third-party and proprietary ones, for different use cases. The company has already integrated AI into many aspects of its operations, including customer support, inventory management, and personalized recommendations. 



[Quantum Technology] Researchers Execute First Quantum Attack on Encryption, Google Demonstrates Quantum Advantage with Sycamore Processor, and Q-Ctrl Raises $59M to Expand Quantum Error-Suppression Tech.  Researchers claim to have executed the first successful quantum attack on widely used encryption algorithms using a D-Wave quantum computer. The team breached SPN-structured algorithms, posing a potential threat to banking and military security. While they haven't cracked specific passcodes, this marks a significant milestone in quantum computing's application to cryptography. The researchers used quantum annealing combined with conventional methods to create a novel computational architecture. However, they acknowledge current limitations such as environmental interference and underdeveloped hardware. Despite these constraints, the study suggests that as quantum technology advances, it could pose increasing risks to existing cryptographic systems, particularly those using AES encryption. Meanwhile, Google researchers have determined the conditions under which quantum computers can outperform classical supercomputers using the Sycamore processor. They found that when noise interference is reduced below a certain threshold while running the Random Circuit Sampling (RCS) algorithm, quantum computers become too complex for classical computers to simulate effectively. This achievement demonstrates a clear quantum advantage, although it doesn't mean quantum computers will replace classical ones for everyday tasks. The study highlights the importance of reducing qubit noise in quantum computing and contributes to the ongoing competition between quantum and classical computers, which drives innovation in the field. Meanwhile, Q-Ctrl, a quantum technology startup backed by Salesforce Ventures, has raised $59 million in additional funding, bringing its Series B round to $113 million. Investors include Lockheed Martin Ventures, highlighting growing interest in quantum's military applications. The Sydney-based company develops error-suppressing software for quantum computing and sensors, including quantum navigation systems. CEO Michael Biercuk notes they're working with the Australian Department of Defense on navigation solutions. The funding will help expand Q-Ctrl's sales and marketing team, complementing its existing staff of mostly scientists and engineers.



[General technology] Tesla Unveils Cybercab, Robovan, and Optimus Robot, LinkedIn's Services Marketplace Hits 10 Million Freelancers, and Star Health Suffers Major Cyberattack Exposing 31 Million Policyholders.  At Tesla's "We, Robot" event, three key products were revealed: the Cybercab (an autonomous taxi), the Robovan (a surprise autonomous van for up to 20 people), and an updated Optimus humanoid robot. The Robovan, designed to "change the look of the roads," features a boxy design with strip windows and no windshield. Musk claims it could reduce travel costs significantly. The Optimus robot, still in development, is envisioned to perform various tasks from teaching to babysitting. Musk predicts it will eventually cost $20-30,000, though initial pricing may be higher. These reveals showcase Tesla's ambitious plans in autonomous vehicles and robotics. Meanwhile, LinkedIn has announced that its Services Marketplace, launched in 2021, has now attracted 10 million freelancers, representing a 48% increase in the last year. Service requests have risen 65% year-over-year, averaging eight per minute. However, this represents only 1% of LinkedIn's 1 billion users, and the company hasn't disclosed actual commercial engagement numbers. Compared to competitors like Fiverr and Upwork, LinkedIn's performance is difficult to gauge due to different metrics. The platform is currently focused on driving engagement and premium subscriptions rather than formal pricing. Premium subscriptions have increased 51% this fiscal year, generating $1.7 billion in revenue, though this remains a small portion of LinkedIn's overall $16 billion annual revenue. Also, Star Health and Allied Insurance, a major Indian health insurer, has confirmed a "malicious cyberattack" resulting in unauthorized data access. Hackers allegedly posted personal and medical data of 31 million policyholders and 5.8 million insurance claims on Telegram bots. Star Health filed a legal complaint against Telegram and Cloudflare for hosting the data. The company is conducting a forensic investigation and working with authorities. The extent of the breach and the role of the company's CISO remain unclear. Star Health, which covers 170 million individuals across India, has not disclosed specific details about the accessed data or the nature of the breach.





Comments

Commenting has been turned off.

What else is new at QualitaX?

bottom of page