The super-rich preppers planning to save themselves from the apocalypse – The Guardian

As a humanist who writes about the impact of digital technology on our lives, I am often mistaken for a futurist. The people most interested in hiring me for my opinions about technology are usually less concerned with building tools that help people live better lives in the present than they are in identifying the Next Big Thing through which to dominate them in the future. I dont usually respond to their inquiries. Why help these guys ruin whats left of the internet, much less civilisation?

Still, sometimes a combination of morbid curiosity and cold hard cash is enough to get me on a stage in front of the tech elite, where I try to talk some sense into them about how their businesses are affecting our lives out here in the real world. Thats how I found myself accepting an invitation to address a group mysteriously described as ultra-wealthy stakeholders, out in the middle of the desert.

A limo was waiting for me at the airport. As the sun began to dip over the horizon, I realised I had been in the car for three hours. What sort of wealthy hedge-fund types would drive this far from the airport for a conference? Then I saw it. On a parallel path next to the highway, as if racing against us, a small jet was coming in for a landing on a private airfield. Of course.

The next morning, two men in matching Patagonia fleeces came for me in a golf cart and conveyed me through rocks and underbrush to a meeting hall. They left me to drink coffee and prepare in what I figured was serving as my green room. But instead of me being wired with a microphone or taken to a stage, my audience was brought in to me. They sat around the table and introduced themselves: five super-wealthy guys yes, all men from the upper echelon of the tech investing and hedge-fund world. At least two of them were billionaires. After a bit of small talk, I realised they had no interest in the speech I had prepared about the future of technology. They had come to ask questions.

They started out innocuously and predictably enough. Bitcoin or ethereum? Virtual reality or augmented reality? Who will get quantum computing first, China or Google? Eventually, they edged into their real topic of concern: New Zealand or Alaska? Which region would be less affected by the coming climate crisis? It only got worse from there. Which was the greater threat: global warming or biological warfare? How long should one plan to be able to survive with no outside help? Should a shelter have its own air supply? What was the likelihood of groundwater contamination? Finally, the CEO of a brokerage house explained that he had nearly completed building his own underground bunker system, and asked: How do I maintain authority over my security force after the event? The event. That was their euphemism for the environmental collapse, social unrest, nuclear explosion, solar storm, unstoppable virus, or malicious computer hack that takes everything down.

This single question occupied us for the rest of the hour. They knew armed guards would be required to protect their compounds from raiders as well as angry mobs. One had already secured a dozen Navy Seals to make their way to his compound if he gave them the right cue. But how would he pay the guards once even his crypto was worthless? What would stop the guards from eventually choosing their own leader?

The billionaires considered using special combination locks on the food supply that only they knew. Or making guards wear disciplinary collars of some kind in return for their survival. Or maybe building robots to serve as guards and workers if that technology could be developed in time.

I tried to reason with them. I made pro-social arguments for partnership and solidarity as the best approaches to our collective, long-term challenges. The way to get your guards to exhibit loyalty in the future was to treat them like friends right now, I explained. Dont just invest in ammo and electric fences, invest in people and relationships. They rolled their eyes at what must have sounded to them like hippy philosophy.

This was probably the wealthiest, most powerful group I had ever encountered. Yet here they were, asking a Marxist media theorist for advice on where and how to configure their doomsday bunkers. Thats when it hit me: at least as far as these gentlemen were concerned, this was a talk about the future of technology.

Taking their cue from Tesla founder Elon Musk colonising Mars, Palantirs Peter Thiel reversing the ageing process, or artificial intelligence developers Sam Altman and Ray Kurzweil uploading their minds into supercomputers, they were preparing for a digital future that had less to do with making the world a better place than it did with transcending the human condition altogether. Their extreme wealth and privilege served only to make them obsessed with insulating themselves from the very real and present danger of climate change, rising sea levels, mass migrations, global pandemics, nativist panic and resource depletion. For them, the future of technology is about only one thing: escape from the rest of us.

These people once showered the world with madly optimistic business plans for how technology might benefit human society. Now theyve reduced technological progress to a video game that one of them wins by finding the escape hatch. Will it be Jeff Bezos migrating to space, Thiel to his New Zealand compound, or Mark Zuckerberg to his virtual metaverse? And these catastrophising billionaires are the presumptive winners of the digital economy the supposed champions of the survival-of-the-fittest business landscape thats fuelling most of this speculation to begin with.

What I came to realise was that these men are actually the losers. The billionaires who called me out to the desert to evaluate their bunker strategies are not the victors of the economic game so much as the victims of its perversely limited rules. More than anything, they have succumbed to a mindset where winning means earning enough money to insulate themselves from the damage they are creating by earning money in that way. Its as if they want to build a car that goes fast enough to escape from its own exhaust.

Yet this Silicon Valley escapism lets call it The Mindset encourages its adherents to believe that the winners can somehow leave the rest of us behind.

Never before have our societys most powerful players assumed that the primary impact of their own conquests would be to render the world itself unliveable for everyone else. Nor have they ever before had the technologies through which to programme their sensibilities into the very fabric of our society. The landscape is alive with algorithms and intelligences actively encouraging these selfish and isolationist outlooks. Those sociopathic enough to embrace them are rewarded with cash and control over the rest of us. Its a self-reinforcing feedback loop. This is new.

Amplified by digital technologies and the unprecedented wealth disparity they afford, The Mindset allows for the easy externalisation of harm to others, and inspires a corresponding longing for transcendence and separation from the people and places that have been abused.

Instead of just lording over us for ever, however, the billionaires at the top of these virtual pyramids actively seek the endgame. In fact, like the plot of a Marvel blockbuster, the very structure of The Mindset requires an endgame. Everything must resolve to a one or a zero, a winner or loser, the saved or the damned. Actual, imminent catastrophes from the climate emergency to mass migrations support the mythology, offering these would-be superheroes the opportunity to play out the finale in their own lifetimes. For The Mindset also includes a faith-based Silicon Valley certainty that they can develop a technology that will somehow break the laws of physics, economics and morality to offer them something even better than a way of saving the world: a means of escape from the apocalypse of their own making.

By the time I boarded my return flight to New York, my mind was reeling with the implications of The Mindset. What were its main tenets? Who were its true believers? What, if anything, could we do to resist it? Before I had even landed, I posted an article about my strange encounter to surprising effect.

Almost immediately, I began receiving inquiries from businesses catering to the billionaire prepper, all hoping I would make some introductions on their behalf to the five men I had written about. I heard from a real estate agent who specialises in disaster-proof listings, a company taking reservations for its third underground dwellings project, and a security firm offering various forms of risk management.

But the message that got my attention came from a former president of the American chamber of commerce in Latvia. JC Cole had witnessed the fall of the Soviet empire, as well as what it took to rebuild a working society almost from scratch. He had also served as landlord for the American and European Union embassies, and learned a whole lot about security systems and evacuation plans. You certainly stirred up a bees nest, he began his first email to me. Its quite accurate the wealthy hiding in their bunkers will have a problem with their security teams I believe you are correct with your advice to treat those people really well, right now, but also the concept may be expanded and I believe there is a better system that would give much better results.

He felt certain that the event a grey swan, or predictable catastrophe triggered by our enemies, Mother Nature, or just by accident was inevitable. He had done a Swot analysis strengths, weaknesses, opportunities and threats and concluded that preparing for calamity required us to take the very same measures as trying to prevent one. By coincidence, he explained, I am setting up a series of safe haven farms in the NYC area. These are designed to best handle an event and also benefit society as semi-organic farms. Both within three hours drive from the city close enough to get there when it happens.

Here was a prepper with security clearance, field experience and food sustainability expertise. He believed the best way to cope with the impending disaster was to change the way we treat one another, the economy, and the planet right now while also developing a network of secret, totally self-sufficient residential farm communities for millionaires, guarded by Navy Seals armed to the teeth.

JC is currently developing two farms as part of his safe haven project. Farm one, outside Princeton, is his show model and works well as long as the thin blue line is working. The second one, somewhere in the Poconos, has to remain a secret. The fewer people who know the locations, the better, he explained, along with a link to the Twilight Zone episode in which panicked neighbours break into a familys bomb shelter during a nuclear scare. The primary value of safe haven is operational security, nicknamed OpSec by the military. If/when the supply chain breaks, the people will have no food delivered. Covid-19 gave us the wake-up call as people started fighting over toilet paper. When it comes to a shortage of food it will be vicious. That is why those intelligent enough to invest have to be stealthy.

JC invited me down to New Jersey to see the real thing. Wear boots, he said. The ground is still wet. Then he asked: Do you shoot?

The farm itself was serving as an equestrian centre and tactical training facility in addition to raising goats and chickens. JC showed me how to hold and shoot a Glock at a series of outdoor targets shaped like bad guys, while he grumbled about the way Senator Dianne Feinstein had limited the number of rounds one could legally fit in a magazine for the handgun. JC knew his stuff. I asked him about various combat scenarios. The only way to protect your family is with a group, he said. That was really the whole point of his project to gather a team capable of sheltering in place for a year or more, while also defending itself from those who hadnt prepared. JC was also hoping to train young farmers in sustainable agriculture, and to secure at least one doctor and dentist for each location.

On the way back to the main building, JC showed me the layered security protocols he had learned designing embassy properties: a fence, no trespassing signs, guard dogs, surveillance cameras all meant to discourage violent confrontation. He paused for a minute as he stared down the drive. Honestly, I am less concerned about gangs with guns than the woman at the end of the driveway holding a baby and asking for food. He paused, and sighed, I dont want to be in that moral dilemma.

Thats why JCs real passion wasnt just to build a few isolated, militarised retreat facilities for millionaires, but to prototype locally owned sustainable farms that can be modelled by others and ultimately help restore regional food security in America. The just-in-time delivery system preferred by agricultural conglomerates renders most of the nation vulnerable to a crisis as minor as a power outage or transportation shutdown. Meanwhile, the centralisation of the agricultural industry has left most farms utterly dependent on the same long supply chains as urban consumers. Most egg farmers cant even raise chickens, JC explained as he showed me his henhouses. They buy chicks. Ive got roosters.

JC is no hippy environmentalist but his business model is based in the same communitarian spirit I tried to convey to the billionaires: the way to keep the hungry hordes from storming the gates is by getting them food security now. So for $3m, investors not only get a maximum security compound in which to ride out the coming plague, solar storm, or electric grid collapse. They also get a stake in a potentially profitable network of local farm franchises that could reduce the probability of a catastrophic event in the first place. His business would do its best to ensure there are as few hungry children at the gate as possible when the time comes to lock down.

So far, JC Cole has been unable to convince anyone to invest in American Heritage Farms. That doesnt mean no one is investing in such schemes. Its just that the ones that attract more attention and cash dont generally have these cooperative components. Theyre more for people who want to go it alone. Most billionaire preppers dont want to have to learn to get along with a community of farmers or, worse, spend their winnings funding a national food resilience programme. The mindset that requires safe havens is less concerned with preventing moral dilemmas than simply keeping them out of sight.

Many of those seriously seeking a safe haven simply hire one of several prepper construction companies to bury a prefab steel-lined bunker somewhere on one of their existing properties. Rising S Company in Texas builds and installs bunkers and tornado shelters for as little as $40,000 for an 8ft by 12ft emergency hideout all the way up to the $8.3m luxury series Aristocrat, complete with pool and bowling lane. The enterprise originally catered to families seeking temporary storm shelters, before it went into the long-term apocalypse business. The company logo, complete with three crucifixes, suggests their services are geared more toward Christian evangelist preppers in red-state America than billionaire tech bros playing out sci-fi scenarios.

Theres something much more whimsical about the facilities in which most of the billionaires or, more accurately, aspiring billionaires actually invest. A company called Vivos is selling luxury underground apartments in converted cold war munitions storage facilities, missile silos, and other fortified locations around the world. Like miniature Club Med resorts, they offer private suites for individuals or families, and larger common areas with pools, games, movies and dining. Ultra-elite shelters such as the Oppidum in the Czech Republic claim to cater to the billionaire class, and pay more attention to the long-term psychological health of residents. They provide imitation of natural light, such as a pool with a simulated sunlit garden area, a wine vault, and other amenities to make the wealthy feel at home.

On closer analysis, however, the probability of a fortified bunker actually protecting its occupants from the reality of, well, reality, is very slim. For one, the closed ecosystems of underground facilities are preposterously brittle. For example, an indoor, sealed hydroponic garden is vulnerable to contamination. Vertical farms with moisture sensors and computer-controlled irrigation systems look great in business plans and on the rooftops of Bay Area startups; when a palette of topsoil or a row of crops goes wrong, it can simply be pulled and replaced. The hermetically sealed apocalypse grow room doesnt allow for such do-overs.

Just the known unknowns are enough to dash any reasonable hope of survival. But this doesnt seem to stop wealthy preppers from trying. The New York Times reported that real estate agents specialising in private islands were overwhelmed with inquiries during the Covid-19 pandemic. Prospective clients were even asking about whether there was enough land to do some agriculture in addition to installing a helicopter landing pad. But while a private island may be a good place to wait out a temporary plague, turning it into a self-sufficient, defensible ocean fortress is harder than it sounds. Small islands are utterly dependent on air and sea deliveries for basic staples. Solar panels and water filtration equipment need to be replaced and serviced at regular intervals. The billionaires who reside in such locales are more, not less, dependent on complex supply chains than those of us embedded in industrial civilisation.

Surely the billionaires who brought me out for advice on their exit strategies were aware of these limitations. Could it have all been some sort of game? Five men sitting around a poker table, each wagering his escape plan was best?

But if they were in it just for fun, they wouldnt have called for me. They would have flown out the author of a zombie apocalypse comic book. If they wanted to test their bunker plans, theyd have hired a security expert from Blackwater or the Pentagon. They seemed to want something more. Their language went far beyond questions of disaster preparedness and verged on politics and philosophy: words such as individuality, sovereignty, governance and autonomy.

Thats because it wasnt their actual bunker strategies I had been brought out to evaluate so much as the philosophy and mathematics they were using to justify their commitment to escape. They were working out what Ive come to call the insulation equation: could they earn enough money to insulate themselves from the reality they were creating by earning money in this way? Was there any valid justification for striving to be so successful that they could simply leave the rest of us behind apocalypse or not?

Or was this really their intention all along? Maybe the apocalypse is less something theyre trying to escape than an excuse to realise The Mindsets true goal: to rise above mere mortals and execute the ultimate exit strategy.

This is an edited extract from Survival of the Richest by Douglas Rushkoff, published by Scribe (20). To support the Guardian and Observer order your copy at guardianbookshop.com. Delivery charges may apply

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The super-rich preppers planning to save themselves from the apocalypse - The Guardian

Baidu Releases Superconducting Quantum Computer and World’s First All-Platform Integration Solution, Making Quantum Computing Within Reach – PR…

BEIJING, Aug. 25, 2022 /PRNewswire/ -- Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888) ("Baidu" or the "Company"), a leading AI company with strong Internet foundation, today announced its first superconducting quantum computer that fully integrates hardware, software, and applications. On top of this, Baidu also introduced the world's first all-platform quantum hardware-software integration solution that provides access to various quantum chips via mobile app, PC, and cloud. Launched at Quantum Create 2022, a quantum developer conference held in Beijing, this new offering paves the way for the long-awaited industrialization of quantum computing.

A revolutionary technology that harnesses the laws of quantum mechanics to solve problems beyond the reach of classical computers, quantum computing is expected to bring ground-breaking transformations in fields like artificial intelligence (AI), computational biology, material simulation, and financial technology. However, a significant gap remains between quantum devices and services.

"Qian Shi"[1], Baidu's industry-level superconducting quantum computer incorporates its hardware platform with Baidu's home-grown software stack[2]. On top of this infrastructure are numerous practical quantum applications, such as quantum algorithms used to design new materials for novel lithium batteries or simulate protein folding.

Qian Shi offers a stable and substantial quantum computing service to the public with high-fidelity 10 quantum bits (qubits) of power. In addition, Baidu has recently completed the design of a 36-qubit superconducting quantum chip with couplers, which demonstrates promising simulation results across key metrics.

As quantum computing continues to experience remarkable progress, a large number of enterprises are exploring how quantum computing will contribute to their real-world businesses. This has led to the development of "Liang Xi"[3], the world's first all-platform quantum hardware-software integration solution that offers versatile quantum services through private deployment, cloud services, and hardware access. Liang Xi is able to plug into Qian Shi and other third-party quantum computers, including a 10-qubit superconducting quantum device and a trapped ion quantum device developed by the Chinese Academy of Sciences. Users can conveniently visit these quantum computational resources via mobile app, PC, and cloud.

"With Qian Shi and Liang Xi, users can create quantum algorithms and use quantum computing power without developing their own quantum hardware, control systems, or programming languages," said Dr. Runyao Duan, Director of the Institute for Quantum Computing at Baidu Research. "Baidu's innovations make it possible to access quantum computing anytime and anywhere, even via smartphone. Baidu's platform is also instantly compatible with a wide range of quantum chips, meaning 'plug-and-play' access is now a reality."

These latest innovations are backed by Baidu Research's Institute for Quantum Computing, whose technological footprint covers a wide range of areas, including quantum algorithms and applications, communications and networks, encryption and security, error correction, architecture, measurement and control, and chip design. Across more than four years of research and development, Baidu has submitted over 200 core technology patent applications in the quantum technology field.

About Institute for Quantum Computing at Baidu Research

The Institute for Quantum Computing at Baidu Research was established in March 2018 by Dr. Runyao Duan, founding director of the Quantum Software and Information Centre at the University of Technology Sydney. With quantum computing playing a crucial role in next-generation computing technology, Baidu aims to integrate quantum technologies into Baidu's core business, with the institute developing towards the goal of becoming a world-leading Quantum Artificial Intelligence (AI) research.

The Institute for Quantum Computing at Baidu Research aims at building full-stack quantum software and hardware solutions, and focuses on the breakthrough in fundamental Quantum research, the construction of autonomous and controllable quantum Infrastructure, the acceleration in practical quantum frontier Applications, and the development of industrial quantum Network, which altogether form Baidu's QIAN strategy. In building an open and sustainable quantum ecosystem, Baidu strives to achieve the vision of a world where "Everyone Can Quantum".

About Baidu

Founded in 2000, Baidu's mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet foundation, trading on the NASDAQ under "BIDU" and HKEX under "9888." One Baidu ADS represents eight Class A ordinary shares.

Note:

1. Qian Shi () means "the origin of all things is found in the heavens" in Chinese.

2. Baidu's quantum software stack includes Quanlse, a cloud-based platform for quantum control, Quantum Leaf, a cloud-native quantum computing platform, QNET, a quantum network toolkit, QEP, a quantum error processing toolkit, and Paddle Quantum, a quantum machine learning platform. Learn more at quantum.baidu.com.

3. Liang Xi ().

Media Contact[emailprotected]

SOURCE Baidu, Inc.

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Baidu Releases Superconducting Quantum Computer and World's First All-Platform Integration Solution, Making Quantum Computing Within Reach - PR...

Want the best quantum computers? Then youll need time crystals… – TelecomTV

Lieutenant Commander Montgomery Scotty Scott, Chief Engineer and third in command of the starship Enterprise had his dilithium crystals: Quantum computers could soon have time crystals. It all sounds very Doctor Who, but time crystals were theoretically predicted 10 years ago, and ongoing research now shows they can be engineered to interconnect, not only to help build quantum computers but also provide greatly improved and highly stable memory storage for the devices.

Mind you, as of today, theyd be difficult to manage because any connections would have to take place in a superfluid of helium-3 maintained at a temperate of one-ten-thousandth of a degree above absolute zero, which itself is minus 273 degrees Celsius, so your average fridge wont be of much use. At such a low temperature there is no viscosity, no friction and no heat is produced, and thus perpetual motion becomes a possibility. Superfluidity can occur in helium-3 when individual atoms pair up to make bosonic complexes called Cooper pairs: Youll have to take my word for that, or read it up yourselves.

In normal crystals salt, sugar or snowflakes, for example atoms are arranged periodically in a lattice formation. These atoms move in three dimensions within that framework (up and down, left and right, backwards and forwards on an X, Y, Z axis), oscillating until, when at ground state (when all electrons are at the lowest possible energy levels), they stop moving. The structures of atoms in time crystals are very different because they oscillate in time as well in space in other words, in a fourth dimension.And, heres the astonishing bit, they do exhibit perpetual motion, jiggling around forever without the need for any energy input or losing any energy at any time.

By doing this, time crystals might appear to break the Second Law of Thermodynamics by negating entropy, which can be described as a measure of randomness, uncertainty, unpredictability and decline into disorder. Or, as Paul Simon sings (on his under-rated and under-played track), everything put together sooner or later falls apart. Entropy is also a measure of the number of possible arrangements the atoms in a system can have. However, time crystals existing in space time cannot create infinite energy as, in fact, they do obey the Second Law of Thermodynamics, because the energy is conserved within a closed system.

That negation of entropy in a closed system is down to a principle of quantum mechanics called many-object localisation. Here, when a force is exerted on one atom, that force is felt by that single atom alone and not by any others, i.e. the change is localised rather than systemwide. Thus, the system does not experience entropy and so become unpredictable and liable to breakdown, but instead continues to oscillate, presumably for ever (as no one ever looks at what is going on). If that happens, the state changes according to the Heisenberg uncertainty principle, which says that when a quantum system is observed and measured, its quantum wave function disappears. Thus, time crystals can work properly only when completely separate to, and isolated from, their surroundings, and then we are back to the closed system again.

A research fellow and physics lecturer at Lancaster University, Samuli Autti, has been working with scientists at Aalto University in Finland (where he completed his PhD) and created two time crystals that paired and interacted with one another. The pairing existed for 1,000 seconds, a period that equated to many billions of periods of oscillation before the wave function decayed and slowed. The research programme continues, and pairing times are expected be extended.

The experiment showed that the paired time crystals (and their interaction) may well turn out to be the basic foundation upon which to build a fully-functioning quantum computer. Thats because a mass of paired time crystals could be made to operate as qubits quantum bits that can represent a 1 and 0 and on and off simultaneously, to provide massive and very fast computing processing speed. Meanwhile, the search is on to develop time crystals that will work at room temperature, a breakthrough that would make it far easier to construct and run quantum computers.

Even though the experiments may sound like something from science fiction, they are science fact, and Scotty has been proved right in his oft-repeated assertion that Ye cannae break the laws of physics, Captain. And, indeed, you cant, but it may be possible to bend them a bit from time to time.

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Want the best quantum computers? Then youll need time crystals... - TelecomTV

Quantum: The Tech Race Europe Can’t Afford to Lose – PR Newswire

PARIS, Aug. 25, 2022 /PRNewswire/ -- Investments in quantum reached all-time record highs in 2021 and are predicted to continue rising significantly, with multiple existing industries set to benefit and new industries likely to be created. Boston Consulting Group (BCG), one of the world's leading management consulting firms, today published new research highlighting the scale and pace of global quantum computing, titled, Can Europe Catch Up With the US (and China) in Quantum Computing?

While the US is a clear frontrunner on quantum computing patents, venture capital, and volume of talent, the BCG report finds that the EU currently leads the way in terms of public investment. However, the EU lacks a coherent plan of action to coordinate individual Member State activities, has an underdeveloped private capital market prepared to invest in late-stage quantum businesses, and is not developing sufficient quantum computing talent to meet anticipated demand. BCG's report highlights that the US currently has between two and three times more quantum talent in the business world than does the EU.

Without urgent action, the report shows, the EU risks repeating mistakes made in the semiconductor industry. Europe, together with the UK and China, is currently well-positioned in a trio of pursuers that are chasing the US (see exhibit). The EU is among leaders in public action in quantum and has put in place plans such as the Quantum Flagship, coordinating research efforts across multiple industries, and running pilot educational projects to give a direction to the developing ecosystem.

So what does the EU need to do to avoid repeating the mistakes it made more than a decade ago in failing to scale a continental semiconductor industry?

"The EU has all the ingredients needed to succeed in the quantum race but needs to rapidly develop and deliver a comprehensive plan to turn potential into action," says Franois Candelon, a managing director and senior partner at BCG, and coauthor of the report. "Europe's history when dealing with tech revolutions has too often been characterized by early promise, failure to scale at critical moments, and then an expensive attempt to catch up. Policymakers need to learn those lessons fast. The good news is that the window is still open to create and execute a European strategy, building public and private capital powerhouses to invest in and scale European universities' ability to train the next generation of quantum experts."

An Action Plan for Europe

BCG's report maps an action plan for Europe to maintain quantum sovereignty:

Quantum Sovereignty

The COVID-19 crisis highlighted Europe's capability to design and manufacture at scale new vaccines that proved essential to controlling the impact of the pandemic on the continent. Conversely, the lack of in-house European manufacturing capabilities for advanced semiconductors showed its dependence on a global supply chain. According to BCG estimates, the chip crisis prevented the production of around 10 million vehicles, which was particularly impactful for Europe, home to major automobile manufacturers.

Quantum will impact multiple industries central to a country's competitiveness and sovereignty such as aerospace, defense, pharma, and chemicals. If Europe wants to maintain its global relevance as well as self-sufficiency in key economic areas, it must ensure access and master quantum capabilities in all stages of the supply chain, from R&D to manufacturing and end applications.

Download the publication here: https://www.bcg.com/publications/2022/can-europe-catch-up-in-quantum-computer-race

For more information, please contact Brian Bannister at +44 7919 393753 or[emailprotected].

About Boston Consulting GroupBoston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholdersempowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.

Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.

SOURCE Boston Consulting Group (BCG)

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Quantum: The Tech Race Europe Can't Afford to Lose - PR Newswire

Cyber Week in Review: August 26, 2022 – Council on Foreign Relations

Facebook and Twitter take down pro-Western influence campaign

Facebook, Instagram, WhatsApp, Twitter, and Telegram disrupted a pro-Western influence campaign focused on promoting U.S. interests abroad, according to a report from Graphika and the Stanford Internet Observatory. The accounts used in the influence operation targeted the Middle East and Central Asia, frequently criticized Russia over the war in Ukraine, and often shared content from U.S. government-affiliated news outlets such as Voice of America and Radio Free Europe. Some of the accounts appear to be part of the Trans-Regional Web Initiative, a propaganda operation run by U.S. Special Operations Command active for over a decade. The campaign is the first publicly known, U.S.-run influence operation on social media. The campaign does not appear to have been very effective, as most posts received only a handful of likes or retweets, and only 19 percent of accounts had more than one thousand followers.

Ransomware gang attacks UK water organization

The ransomware gang Cl0p said it had infected a major water treatment company, South Staffordshire Water, in the United Kingdom. Cl0p first infected the systems of South Staffordshire on August 15, although there was some initial confusion as the gang believed it had compromised the systems of a larger utility, Thames Water, which serves most of southeast England. Cl0p did not deploy ransomware on the network, citing ethical concerns, but instead stole data and threatened further consequences unless a ransom is paid. The hackers may have gained access to the industrial control systems of South Staffordshire. Attacks on water systems have become increasingly common in recent years, and in some cases these attacks could have caused active harm to civilians.

Lloyds of London Excludes State-Sponsored Cyberattacks from Insurance

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Lloyds of London, a major insurance market in England, announced that it will not allow insurers to cover catastrophic cyberattacks perpetrated by nation-states as of March 31, 2023. Lloyds currently defines a catastrophic cyberattack as an attack that will significantly impair the ability of a state to function or... that significantly impairs the security capabilities of a state. While some have praised the move to greater clarity on what will not be covered, others have noted that that Lloyds standard of catastrophic is vague and that cyberattacks are often difficult to attribute to a specific nation-state conclusively. In recent years, insurance companies have grappled with how to address major cyberattacks, and, in December 2021, Lloyds announced the exclusion of nation-state-led attacks from policies held in a small subset of countries, China, France, Japan, Russia, the United Kingdom and the United States, although it appears this exclusion has not been tested yet.

Former Twitter head of security turns whistleblower

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Twitters former head of security Pieter Zatko, also known as Mudge, filed a whistleblower complaint against the company earlier this week. Zatko made a series of claims about the state of Twitters security, including that Twitter unknowingly employs agents of foreign nations, deleted data may still be accessible, and that the loss of a few key data centers could permanently take down the entire site. Zatko also alleged that Twitters security practices violated an agreement with the Federal Trade Commission that prohibited Twitter from misleading user about its security or privacy practices. Zatko, who developed L0phtCrack in 1997, a password-recovery tool still in use in an updated form today, is well-respected in the cybersecurity community for his work over the past three decades. Zatkos disclosures will likely affect the court case between Twitter and Elon Musk over whether the tech entrepreneur can back out of his bid to buy the company without significant penalty, although experts are divided as to whether Zatkos disclosures will help or hurt Twitter.

Baidu unveils first quantum computer

Chinese internet company Baidu announced it had built its first quantum computer on Thursday this week. The computer, dubbed Qianshi, has a ten qubit processor, significantly behind Googles Sycamore at fifty four qubits, and Zuchongzi from the University of Science and Technology of China at sixty six qubits. Baidu said that it had also developed a thirty six qubit processor, although it appears that processor has not been used yet. Quantum computing has been a major research focus for China, the United States, and European Union in recent years, as each country has poured billions of dollars into research on quantum computing. The Biden administration recently announced a series of initiatives aimed at growing quantum research in the United States.

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Cyber Week in Review: August 26, 2022 - Council on Foreign Relations

The unpredictable rise of quantum computing – have recent breakthroughs accelerated the timeline? – Diginomica

Everyone knows by now how weird quantum mechanics can be. Things with quantum computers have gotten ten degrees of weirdness lately. First, a new kind of matter appears to have been observed with two time dimensions.

Let's think about that for a minute. Suppose we were aware of this in our physical world. Maybe there would be Miller Time and Half Time simultaneously.

Okay, maybe thats not so hard to imagine, but suppose you existed in two different timelines, similar but different. Or, maybe everything is the same in one timeline but working in a coal mine in the other.

If you think that's mind-boggling, thisweird quirk of quantum mechanics behavesas though it has two time dimensions instead of one; a trait that scientists say makes the qubits more robust, and able to remain stable for important lengths of time.

The work represents "a completely different way of thinking about phases of matter,"according to computational quantum physicist Philipp Dumitrescuof the Flatiron Institute, the lead author of a new paper describing the phenomenon.

How did physicists figure this out? It seems they pulsed light on the qubits in a pattern mimicking the Fibonacci sequence. This is one of those things that is stunning, things were discovered in the thirteenth century, and they pop up in completely unexpected ways. The Fibonacci is a sequence in which each number is the sum of the two preceding numbers and graphically creates a beautiful spiral repeated in nature in a million ways.

And by the way, as the Fibonacci numbers get large, the quotient between each successive pair of Fibonacci numbers approximates 1.612, known as early as the Greeks as the Golden Ratio of Beauty. This mathematical symmetry algorithm underlies our perception of attractiveness. It also appears in the shapes of spiral galaxies, hurricanes, snail shells, the distribution of flower petals and even in the proportions of the human body.

How they did this takes a little explanation.

Stability in quantum computers is called quantum coherence, and it's one of the main goals for an error-free quantum computerand one of the most difficult to achieve. A central problem in quantum computing is decoherence, or the collapse of coherence. The qubits are an unruly bunch from environmental disturbance, failing to maintain temperature near absolute zero, and entanglement, where qubits affect each other. Enforcing symmetry is one approach to protecting qubits from decoherence. An example of symmetry is a square, which, when rotated ninety degrees, is still the same shape. Symmetry protects forms from certain rotational effects.. Thats where the two time dimension discovery comes in.

This is where it gets a little dense. Tapping qubits with evenly spaced laser pulses ensures a symmetry-based not in space but in time, a symmetrical periodicity. But these researchers theorized they could create an asymmetrical quasiperiodicity, allowing them to bury a second time dimension in the first.

Net effect? For the periodic sequence, the qubits were stable for 1.5 seconds. For the quasiperiodic sequence, they remained stable for 5.5 seconds. The additional time symmetry, the researchers said, added another layer of protection against quantum decoherence.

So despite all the physics and terms like asymmetrical quasiperiodicity, the takeaway is that quantum researchers have made a significant achievement in the most daunting quantum problem, making the quibits behave long enough to solve a problem. If that isnt enough to chew on, another startling discovery was just disclosed.

Everything weve understood about quantum computers was that a single qubit can have a state of 0 and 1 simultaneously (superposition), but apparently, that is not the case. They can have multiple states simultaneously. This dramatically increases the richness and complexity of a single qubit allowing for

For decades computers have been synonymous with binary information -- zeros and ones. A team at the University of Innsbruck, Austria realized a quantum computer that breaks out of this paradigm and unlocks additional computational resources hidden in almost all of today's quantum devices. In an article, Quantum computer works with more than zero and one, researchers at Innsbruck, Austria, developed a quantum computer that breaks the 2-dimension operation.

In the Innsbruck quantum computer, information is stored in individual trapped Calcium atoms. Each of these atoms has eight different states. I have not been able to determine why its eight. The atomic number of calcium is 20. Typically only two states are used to store information in other quantum computers. Almost all existing quantum computers have access to more quantum states than they use for computation.

On the flip side, many tasks that need quantum computers, such as problems in physics, chemistry, ormaterial science, are also naturally expressed in the qudit language (qudit provides a larger state space to store and process information).. Rewriting them for qubits can often make them too complicated for today's quantum computers. "Working with more than zeros and ones is very natural, not only for the quantum computer but also for its applications, allowing us to unlock the true potential ofquantum systems, explains Martin Ringbauer.

Whats the meaning of all of this? Inan article two years ago, I wrote:

Google plans to search for commercially viable applications in the short term, but they dont think there will be many for another ten years - a time frame I've heard one referred to as bound but loose. What that meant was, no more than ten, maybe sooner. In the industry, the term for the current state of the art isNISQ Noisy, Interim Scale Quantum Computing.

The largest quantum computers are in the 50-70 qubit range, and Google feels NISQ has a ceiling of maybe two hundred. The "noisy" part of NISQ is because the qubits need to interact and be nearby. That generates noise. The more qubits, the more noise, and the more challenging it is to control the noise.

But Google suggests the real unsolved problems in fields like optimization, materials science, chemistry, drug discovery, finance, and electronics will take machines with thousands of qubits and even envision one million on a planar array etched in aluminum. Major problems need solving, such as noise elimination, coherence, and lifetime (a qubit holds its position in a tiny time slice).

So the question is, is this moving faster than Google imagined, or was their 10-year projection just a head fake to slow competitors down?

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The unpredictable rise of quantum computing - have recent breakthroughs accelerated the timeline? - Diginomica

Multiverse and IQM Partner to Create Application Specific Quantum Computers – Quantum Computing Report

Multiverse and IQM Partner to Create Application Specific Quantum Computers

Multiverse Computing is a quantum software company based in Spain that tackles complex problems in finance, manufacturing, energy and other sectors with their proprietary quantum and quantum-inspired algorithms within its Singularity SDK. IQM is a European quantum hardware manufacturer that is focused on providing on-premise quantum processors for supercomputing data centers and research labs. As part of its efforts, IQM has engaged in a number of different projects, including a program funded by the German Federal Ministry of Education and Research, abbreviated BMBF. to develop application specific quantum processors to provide hardware optimized for specific use cases.

The two companies have entered into partnership to tightly integrate IQMs co-designed quantum processors with Multiverses Singularity SDK. When designing an application specific processor, one needs to have a deep understanding of the application and the specific algorithms that will be needed to provide solutions. IQM will be coordinating this effort through their office in Madrid, Spain to help the further development of the Spanish quantum ecosystem. Additional information about this new partnership is available in a press release located on the IQM website here.

August 19, 2022

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Quantum Computing Will Be Bigger Than the Discovery of Fire! – InvestorPlace

[Editors note: Quantum Computing Will Be Bigger Than the Discovery of Fire! was previously published in June 2022. It has since been updated to include the most relevant information available.]

Its commonly appreciated that the discovery of fire was the most profound revolution in human history. And yesterday, I read that a major director at Bank of America (BAC) thinks a technology that hardly anyone is talking about these days could be more critical for humankind than fire!

Thats about as bold of a claim as you could make when it comes to technological megatrends. If true, this tech could be the most promising and lucrative investment opportunity of anyones lifetime.

The directors name? Haim Israel, head of global thematic investing research at BofA.

In his words, this technology could create a revolution for humanity bigger than fire, bigger than the wheel.

What on Earth is Mr. Israel talking about?

Two words: Quantum Computing.

Ill start by saying that the underlying physics of this breakthrough quantum mechanics is highly complex. It would likely require over 500 pages to fully understand.

But, alas, heres my best job at making a Cliffs Notes version in 500 words instead.

For centuries, scientists have developed, tested, and validated the laws of the physical world, known as classical mechanics. These scientifically explain how and why things work, where they come from, so on and so forth.

But in 1897, J.J. Thomson discovered the electron. And he unveiled a new, subatomic world of super-small things that didnt obey the laws of classical mechanics at all. Instead, they obeyed their own set of rules, which have since become known as quantum mechanics.

The rules of quantum mechanics differ from that of classical mechanics in two very weird, almost-magical ways.

First, in classical mechanics, objects are in one place at one time. You are either at the store or at home, not both.

But in quantum mechanics, subatomic particles can theoretically exist in multiple places at once before theyre observed. A single subatomic particle can exist in point A and point B at the same time until we observe it. And at that point, it only exists at either point A or point B.

So, the true location of a subatomic particle is some combination of all its possible positions.

This is called quantum superposition.

Second, in classical mechanics, objects can only work with things that are also real. You cant use an imaginary friend to help move the couch. You need a real friend instead.

But in quantum mechanics, all those probabilistic states of subatomic particles are not independent. Theyre entangled. That is, if we know something about the probabilistic positioning of one subatomic particle, then we know something about the probabilistic positioning of another. That means these already super-complex particles can actually work together to create a super-complex ecosystem.

This is called quantum entanglement.

So, in short, subatomic particles can theoretically have multiple probabilistic states at once. And all those probabilistic states can work together again, all at once to accomplish some task.

Pretty wild, right?

It goes against everything classical mechanics had taught us about the world. It goes against common sense. But its true. Its real. And, now, for the first time ever, we are leaning how to harness this unique phenomenon to change everything about everything

This is why Mr. Israel is so excited about quantum computing. Its why he thinks it could be more revolutionary than the discovery of fire or the invention of the wheel.

I couldnt agree more.

Mark my words. Over the next few years, everything will change because of quantum mechanics. And some investors are going to make a lot of money.

The study of quantum theory has led to huge advancements over the past century. Thats especially true over the past decade. Scientists at leading tech companies have started to figure out how to harness the power of quantum mechanics to make a new generation of super quantum computers. And theyre infinitely faster and more powerful than even todays fastest supercomputers.

In Mr. Israels own words: By the end of this decade, the amount of calculations that we can make [on a quantum computer] will be more than the atoms in the visible universe.

Again, the physics behind quantum computers is highly complex. But once again, heres my Cliffs Notes version.

Todays computers are built on top of the laws of classical mechanics. That is, they store information on what are called bits, which can store data binarily as either 1 or 0.

But what if you could turn those classical bits into quantum bits qubits to leverage superpositioning to be both 1 and 0 stores at once?

Further, what if you could leverage entanglement and have all multi-state qubits work together to solve computationally taxing problems?

Theoretically, youd create a machine with so much computational power that it would make todays most advanced supercomputers seem ancient.

Thats exactly whats happening today.

Google has built a quantum computer thats about 158 million times faster than the worlds fastest supercomputer.

Thats not hyperbole. Thats a real number.

Imagine the possibilities behind a new set of quantum computers 158 million times faster than even todays fastest computers

Wed finally have the level of AI that you see in movies. The biggest limitation to AI today is the robustness of machine learning algorithms, which are constrained by supercomputing capacity. Expand that capacity, and you get infinitely improved machine learning algos and infinitely smarter AI.

We could eradicate disease. We already have tools like gene editing. But its effectiveness relies of the robustness of the underlying computing capacity to identify, target, insert, cut, and repair genes. Insert quantum computing capacity, and all that happens without error in seconds allowing us to fix anything about anyone.

We could finally have that million-mile EV. We can only improve batteries if we can test them. And we can only test them in the real world so much. Therefore, the key to unlocking a million-mile battery is through simulation. And the quickness and effectiveness of simulations rest upon the robustness of underlying computing capacity. Make that capacity 158 million times bigger, and cellular simulation will happen 158 million times faster.

The economic opportunities here are truly endless.

One issue I have with emerging technological breakthroughs is that theyre usually focused on solving tomorrows problems. And we need tools to solve todays problems.

But quantum computing doesnt have that focus. Instead, it could prove mission-critical in helping us solve todays problems.

Lets revisit the making of a million-mile EV.

Were amid a global energy crisis defined by soaring oil prices. As a result, were all paying $5-plus per gallon for gas. Thats unreal. And its hurting everyone.

Of course, the ultimate fix is for everyone to buy electric vehicles. But EVs are technologically limited today. On average, they max out at about 250 miles of driving range. And theyre also pretty expensive.

Quantum computing could change that. It could allow us to create a million-mile EV rather soon. And through material simulation and battery optimization modeling, itd also dramatically reduce the costs of EV manufacturing.

In other words, with the help of quantum computing, we could be just years away from $15,000 EVs that can drive up to 1,000 miles on a single charge.

Indeed, auto makers like Hyundai (HYMTF) and Volkswagen (VWAGY) are already using quantum computers to make next-gen high-performance, low-cost EVs. These are EVs that actually drive as far as your gas car and cost less than it, too!

And those are the vehicles that will change the world, not todays $70,000 Teslas or $100,000-plus Lucid (LCID) cars. The EVs that will change the world will drive 1,000-plus miles and cost less than $15,000.

Quantum computing is the key to making those EVs.

Alas, I repeat: Quantum computing isnt a science-fiction project that will help the world in 10 years. Its a breakthrough technology that can help solve the worlds problems today!

And the most pertinent application? Electric vehicles.

Quantum computing is the most underrated, most transformational technological breakthrough since the internet.

In fact, it may be bigger than the internet. As Mr. Israel said, it may bigger than the discovery of fire itself.

The first tangible, value-additive application of quantum computing technology electric vehicles.

We truly believe that quantum computing will meaningfully accelerate the EV Revolution. Over the next few years, it will help to develop new EVs that last forever and cost next to nothing.

Forget Tesla. Focus on the next wave of EV makers that will make these quantum-enabled cars.

Believe it or not, one of those companies is Apple (AAPL).

Yep. You read that right. The worlds largest company is reportedly preparing to launch an electric vehicle very soon. Given its expertise in creating home-run-hit hardware products, we think Apples EV will drive us into an electric future.

And guess what? We found a $3 stock that we believe will become the exclusive supplier of the Apple cars most important technology.

According to our numbers, it could soar 40X from current levels.

Not 10X, 20X, or 30X 40X a potential investment that turns every $10,000 into $400,000.

Needless to say, its an opportunity that you need to hear about today.

On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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Quantum Computing Will Be Bigger Than the Discovery of Fire! - InvestorPlace

Scientists blast atoms with Fibonacci laser to make an "extra" dimension of time – Livescience.com

By firing a Fibonacci laser pulse at atoms inside a quantum computer, physicists have created a completely new, strange phase of matter that behaves as if it has two dimensions of time.

The new phase of matter, created by using lasers to rhythmically jiggle a strand of 10 ytterbium ions, enables scientists to store information in a far more error-protected way, thereby opening the path to quantum computers that can hold on to data for a long time without becoming garbled. The researchers outlined their findings in a paper published July 20 in the journal Nature (opens in new tab).

The inclusion of a theoretical "extra" time dimension "is a completely different way of thinking about phases of matter," lead author Philipp Dumitrescu, a researcher at the Flatiron Institute's Center for Computational Quantum Physics in New York City, said in a statement. "I've been working on these theory ideas for over five years, and seeing them come actually to be realized in experiments is exciting."

Related: Otherworldly 'time crystal' made inside Google quantum computer could change physics forever

The physicists didn't set out to create a phase with a theoretical extra time dimension, nor were they looking for a method to enable better quantum data storage. Instead, they were interested in creating a new phase of matter a new form in which matter can exist, beyond the standard solid, liquid, gas, plasma.

They set about building the new phase in the quantum computer company Quantinuum's H1 quantum processor, which consists of 10 ytterbium ions in a vacuum chamber that are precisely controlled by lasers in a device known as an ion trap.

Ordinary computers use bits, or 0s and 1s, to form the basis of all calculations. Quantum computers are designed to use qubits, which can also exist in a state of 0 or 1. But that's just about where the similarities end. Thanks to the bizarre laws of the quantum world, qubits can exist in a combination, or superposition, of both the 0 and 1 states until the moment they are measured, upon which they randomly collapse into either a 0 or a 1.

This strange behavior is the key to the power of quantum computing, as it allows qubits to link together through quantum entanglement, a process that Albert Einstein dubbed "spooky action at a distance." Entanglement couples two or more qubits to each other, connecting their properties so that any change in one particle will cause a change in the other, even if they are separated by vast distances. This gives quantum computers the ability to perform multiple calculations simultaneously, exponentially boosting their processing power over that of classical devices.

But the development of quantum computers is held back by a big flaw: Qubits don't just interact and get entangled with each other; because they cannot be perfectly isolated from the environment outside the quantum computer, they also interact with the outside environment, thus causing them to lose their quantum properties, and the information they carry, in a process called decoherence.

"Even if you keep all the atoms under tight control, they can lose their 'quantumness' by talking to their environment, heating up or interacting with things in ways you didn't plan," Dumitrescu said.

To get around these pesky decoherence effects and create a new, stable phase, the physicists looked to a special set of phases called topological phases. Quantum entanglement doesn't just enable quantum devices to encode information across the singular, static positions of qubits, but also to weave them into the dynamic motions and interactions of the entire material in the very shape, or topology, of the material's entangled states. This creates a "topological" qubit that encodes information in the shape formed by multiple parts rather than one part alone, making the phase much less likely to lose its information.

A key hallmark of moving from one phase to another is the breaking of physical symmetries the idea that the laws of physics are the same for an object at any point in time or space. As a liquid, the molecules in water follow the same physical laws at every point in space and in every direction. But if you cool water enough so that it transforms into ice, its molecules will pick regular points along a crystal structure, or lattice, to arrange themselves across. Suddenly, the water molecules have preferred points in space to occupy, and they leave the other points empty; the spatial symmetry of the water has been spontaneously broken.

Creating a new topological phase inside a quantum computer also relies on symmetry breaking, but with this new phase, the symmetry is not being broken across space, but time.

Related: World's 1st multinode quantum network is a breakthrough for the quantum internet

By giving each ion in the chain a periodic jolt with the lasers, the physicists wanted to break the continuous time symmetry of the ions at rest and impose their own time symmetry where the qubits remain the same across certain intervals in time that would create a rhythmic topological phase across the material.

But the experiment failed. Instead of inducing a topological phase that was immune to decoherence effects, the regular laser pulses amplified the noise from outside the system, destroying it less than 1.5 seconds after it was switched on.

After reconsidering the experiment, the researchers realized that to create a more robust topological phase, they would need to knot more than one time symmetry into the ion strand to decrease the odds of the system getting scrambled. To do this, they settled on finding a pulse pattern that did not repeat simply and regularly but nonetheless showed some kind of higher symmetry across time.

This led them to the Fibonacci sequence, in which the next number of the sequence is created by adding the previous two. Whereas a simple periodic laser pulse might just alternate between two laser sources (A, B, A, B, A, B, and so on), their new pulse train instead ran by combining the two pulses that came before (A, AB, ABA, ABAAB, ABAABABA, etc.).

This Fibonacci pulsing created a time symmetry that, just like a quasicrystal in space, was ordered without ever repeating. And just like a quasicrystal, the Fibonacci pulses also squish a higher dimensional pattern onto a lower dimensional surface. In the case of a spatial quasicrystal such as Penrose tiling, a slice of a five-dimensional lattice is projected onto a two-dimensional surface. When looking at the Fibonacci pulse pattern, we see two theoretical time symmetries get flattened into a single physical one.

"The system essentially gets a bonus symmetry from a nonexistent extra time dimension," the researchers wrote in the statement. The system appears as a material that exists in some higher dimension with two dimensions of time even if this may be physically impossible in reality.

When the team tested it, the new quasiperiodic Fibonacci pulse created a topographic phase that protected the system from data loss across the entire 5.5 seconds of the test. Indeed, they had created a phase that was immune to decoherence for much longer than others.

"With this quasi-periodic sequence, there's a complicated evolution that cancels out all the errors that live on the edge," Dumitrescu said. "Because of that, the edge stays quantum-mechanically coherent much, much longer than you'd expect."

Although the physicists achieved their aim, one hurdle remains to making their phase a useful tool for quantum programmers: integrating it with the computational side of quantum computing so that it can be input with calculations.

"We have this direct, tantalizing application, but we need to find a way to hook it into the calculations," Dumitrescu said. "That's an open problem we're working on."

Originally published on Live Science.

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Scientists blast atoms with Fibonacci laser to make an "extra" dimension of time - Livescience.com

D-Wave Releases Its Second Quarter and First Half 2022 Financial Results – Quantum Computing Report

D-Wave Releases Its Second Quarter and First Half 2022 Financial Results

For its second quarter of fiscal 2022, D-Wave reported revenues of $1.371 million versus $1.137 million in the second quarter of 2021. Adjusted EBITDA showed a loss of $10.385 million versus a loss of $8.804 million in the same period a year ago and GAAP Net loss was $13.198 million versus a net loss of $4.668 million in 2021. The company reported that its customer base consists of 95 customers of which 55 are commercial organizations, representing an increase of 44% in the number of commercial organization customers in the past year. CEO Alan Baratz acknowledge during the earning calls certain headwinds stemming largely from the economic environment. To help adjust for these changes, they are increasing their budgets for go to market activities and moderating the budget growth in other areas. Despite this, he indicated that progress in their development programs has remained on-track or even been ahead of schedule in some cases. The company ended the quarter with about $10.5 million in cash, however they have announced an agreement that will provide them with a committed equity facility for up to $150 million. You can access a press release from D-Wave with their earnings announcement on their web page here and listen to their Q2 earnings call here.

August 18, 2022

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D-Wave Releases Its Second Quarter and First Half 2022 Financial Results - Quantum Computing Report