Daily Archives: October 8, 2019

Have at It, Libra: Theres No Apple Cryptocurrency on the Horizon – Blockonomi

Posted: October 8, 2019 at 4:45 pm

Dont expect American tech powerhouse Apple to launch a cryptocurrency any time soon or ever for that matter.

Well, at least not while the companys chief executive officer Tim Cook is at the helm. The CEO noted in a new interview with French financial newspaper Les chos that he believes states, and not private entities like firms, should remain societys monetary masters.

Asked by the publication whether Apple was planning to launch its own money, Cook said No, adding:

I seriously think money needs to stay in the hands of nation states. I am not comfortable with the idea of a private group creating a competing money. A private enterprise doesnt have to strive for power like this. Money, like national defense, needs to remain the domain of nation states, its at the heart of their mission. We elect our representatives to undertake government responsibilities. Businesses or private groups are not elected, they dont have to enter this field.

Thats open and shut as far as sentiment goes, and many people in mainstream circles would agree with Cooks positions here. Could his thinking evolve on money in the coming years? Of course. But theres no debating where Cook currently stands on the matter.

To be sure, reasonable people can disagree on monetary subjects. Yet there is no question that with the advance of top cryptocurrencies like bitcoin and ether combined with Facebooks major Libra splash that money, what it is and what it can be, is now a matter that the largest organizations are increasingly taking positions on.

At Apple the buck stops with Tim Cook as far as the companys wider strategies go, so when he says money should remain in the realm of states, its a bright flashing signal that Apple isnt making its own rendition of the Libra for the foreseeable future.

Still, it appears the tech giant is keeping its ears to the ground where the possibilities cryptocurrencies are concerned, at least according to comments made by Apple Pay vice president Jennifer Bailey in September.When interviewed by CNN at a private event in San Francisco on September 5th, Bailey said:

Were watching cryptocurrency We think its interesting. We think it has interesting long-term potential, but were primarily focused on what consumers are using today.

The payments arm of the massive company, Apple Pay made waves earlier this year when it unveiled the Apple Card, a fee-less titanium debit card that users could link to their Apple Pay accounts.

Some saw the new product as a potential challenge to traditional banks. Yet combined with Cooks latest remarks, it seems that banks and not money itself marks the limit of what Apple is willing to shakeup right now.

Again, though, the company isnt totally burying its head regarding the possibilities around cryptocurrencies.

If you look at QR code payment solutions, if you look at the long-term potential of cryptocurrency, I think youll continue to see that change over time, Bailey told CNN.

Apple may not have to shakeup the money game itself if the central banking system of the United States does so first.

Theres nothing concrete on that front at the moment. But American lawmakers did notably send Federal Reserve Chairman Jerome Powell a series of questions this week that centered around any plans the Fed might have digitizing the dollar as a cryptocurrency.

While some Americans currently use cryptocurrency for speculative purposes, usage of digital assets may well increasingly align with that of paper money in the future, the congressmen said.

How Chairman Powell will respond remains to be seen, but it does look like the tides are steadily changing regardless.

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Cryptocurrency firm slapped with cease-and-desist after impersonating registered financial adviser – The Next Web

Posted: at 4:45 pm

Missouri-based cryptocurrency companyMavixbtc Limited has been handed a cease-and-desist order for allegedly misleading investors.

The company, based in St.Louis, misled the public through its website, which falsely claimed to be registered with the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation. Maxixbtc promised investors returns of up to 55 percent in as little as six days.

If this wasnt enough, the company also used the registration number of a legitimately registered investment adviser who had nothing to do with and no knowledge of Mavixbtc.

According to its website, Mavixbtc was founded in 2008 by Mavis Ann Lehr, a subsidiary of Benjamin F. Edwards & Company, Inc. a broker-dealer with over 2,136 financial professionals registered nationwide.

Securities Commissioner David M. Minnick said:The novelty and promise of quick profits by investing in cryptocurrencies can be enticing to investors.

But there are significant, real risks associated with these non-traditional investments, and scam artists are hard at work trying to defraud investors. Always check with our office before you invest, he added.

Want more Hard Fork?Join usin Amsterdam on October 15-17 to discuss blockchain and cryptocurrency with leading experts.

Published October 3, 2019 13:30 UTC

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International exchanges campaign against UK cryptocurrency derivatives ban – The Next Web

Posted: at 4:45 pm

Global exchanges are begging the UKs Financial Conduct Authority (FCA) not to ban the sale of cryptocurrency-based derivatives.

The World Federation of Exchanges said today that there is a need to find a balance between innovation and keeping consumers protected, Reuters reports. But it doesnt think banning cryptocurrency-based investment products is the right answer.

The WFE recognizes the volatility identified by the FCA in its consultation report and is supportive of ensuring that proper consumer protection is put in place as a priority for any new and relatively untested product on the market, the WFE said in a statement.

Earlier this year, the FCA proposed a blanket ban on cryptocurrency-related investment products in an attempt to protect retail investors.

In July, the FCA said thatcryptocurrency-based derivatives and exchange traded notes, were ill-suited to retail consumers who cannot reliably assess the value and risks.

Heres the thing, exchanges that are part of the WFE are regulated, and so, investors are protected. The issue lies with the unregulated exchanges offering cryptocurrency derivatives.

By banning these products, it immediately makes the act of selling them unlawful and in theory should protect investors. But even the regulated exchanges will be affected if this happens.

At the moment, the FCAs proposed ban is under consultation, meaning industry bodies have the opportunity to give their feedback.

According to Reuters, the FCA will announce the final rule changes in early 2020.

Want more Hard Fork?Join usin Amsterdam on October 15-17 to discuss blockchain and cryptocurrency with leading experts.

Published October 7, 2019 14:27 UTC

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7 Top Cryptocurrency Traders to Follow on Twitter – BeInCrypto

Posted: at 4:45 pm

We have made a selection of 7 top cryptocurrency traders to follow on Twitter.

Whether youve been inside the cryptocurrency space for a longer time, or youve just decided to start looking around, this selection will be interesting for everyone. Weve made a fine selection of very credible, solid and established names, combined with some highly-skilled next generation traders. Be sure to check them all out and give them a well-deserved follow!

Twitter

Murad is a very reputable cryptocurrency trader from the Adaptive Capital fund, a cryptocurrency fund that is actively trading cryptocurrencies. As a renowned name in the Crypto Twitter world, Murad is best known for his charts, but he also often shines a very interesting light on cryptocurrency debates and regularly brings newsworthy information.

Twitter

Formerly known as @crypToBanger, PaTo has been a notorious Crypto Twitter trader for quite some time. PaTo is mostly famous for his elegant high time frame macro charts, often accompanied by flashy graphics and his sigNatuRe WriTing stYle.

But dont be fooled by his flashy appearance, PaTo really knows his trading and often spots wonderful buying opportunities and hidden small-cap gems.

Twitter

YoungTilopa will be a new name to many traders out there. Fortunately, the amount of followers doesnt say much about your trading skills and YoungTilopa is the living proof. Tilopa has very clean charts and often accompanies them with a very interesting order book analysis. Definitely someone to keep an eye on and a very interesting one to follow.

Follow @BeInCrypto on Stocktwits for the lastest trading news!

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FilbFilb might just be the most productive trader of the lot. Not only does he tweet on a very consistent basis, but filbfilb also has a very active Telegram channel, where he further elaborates on his trades and ideas. As a bonus, filbfilb also gives out a weekly report/newsletter for free. His charts are a great way to help get a grasp of what is going on with the markets.

Twitter

NebraskanGooner is a cryptocurrency entrepreneur and highly-skilled short term trader/scalper. Being on the Glassnode Trade Advisory Board, he also often shares very interesting on-chain metrics with his followers. With 32k followers, hes already made quite a name for himself, but he definitely deserves a lot more.

Twitter

We couldnt make this list without mentioning CryptoCred. For anyone trading cryptocurrencies, whether youre a beginner or an experienced trader, CryptoCred has great content for you. With several trading guides and immensely valuable trading videos, hes probably the go-to for every cryptocurrency trader that wants to learn something new. Apart from this, he also tweets very interesting charts, instantly helping you to understand current price action.

Twitter

D4rkEnergY is another highly-skilled cryptocurrency trader that made a name for himself on Tradingview, where his excellent charting used to earn him a spot among the All-Time top-ranked traders. His Twitter timeline is filled with interesting charts and great trading set-ups.

D4rkEnergY is also currently leading a very profitable cryptocurrency signals trading group, called Aedge. All his trade signals are well-documented and available for everyone to see.

BeInCrypto is the first fully transparent cryptocurrency news and trading platform no hidden, unlabelled sponsored articles masquerading as real news. We bring you high-quality content and are on top of things to bring you breaking news before anyone else. If you havent done so before, have a look around on our website and make sure to follow us on Twitter!

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Cryptocurrency buying and selling and how it works – What Investment

Posted: at 4:45 pm

Cryptocurrency buying and selling got a boost with the recent decision by Starbucks to accept cryptocurrencies as payment for food and drink which only adds to the pressure for more businesses to do the same.

Its not an easy decision to make, especially for anyone without strong instincts for digital technology; and there are risks as well as advantages.

Cryptocurrencies are a digital invention, an asset created, held and traded entirely online without any underpinning by Governments. They are not a fiat currency, one issued by a Government with all the security, regulation and visibility that implies. Quite the reverse. Cryptos exist because people have willed them into being and find them useful enough to value accordingly. Furthermore, they rarely come up for air to be converted into real money, so our collective experience of them is low.

Their value is also volatile, swerving alarmingly from dizzying highs to uncomfortable lows since Bitcoin, the first and most famous, arrived just over 10 years ago.

There is also an invisibility to crypto that can be unsettling, with some iterations turning out to be more risky than others.

But there are solid commercial benefits. Crypto allows for instant, borderless payments. This can be an advantage for businesses that trade globally and particularly those with an e-commerce platform.

They are also not bound by a single countrys exchange rate or even location, making it easy for companies entering a global market to accept payments from anywhere in the world. In addition, they avoid banking transaction charges.

And there is the marketing edge. The very fact of accepting crypto communicates something dynamic and engaged about a business; and being able to offer several payment options, including this one, helps secure trade as well as to stand apart from rivals.

There are certainly plenty of cryptos out there, but Bitcoin and Ethereum are the most well-known and understood. This make them arguably the most sensible to work with, at least initially, if you take the plunge.

It is perfectly possible to set up digital wallets and accept crypto payments directly. But that means also accepting all the associated risk and technical know-how required.

Few businesses will want to get that involved in the infrastructure associated with holding the coins, let alone working out what they are worth at the crucial moment an invoice is raised. Fortunately, there are now a number of large, well-regarded exchanges. These essentially absorb the risk of accepting digital payments and make the necessary transfers, including translating the crypto into the fiat amount billed.

BitPay, for example, is a payment processing provider that will convert a traditional fiat currency fee into a Bitcoin equivalent as soon as it is issued.

That Bitcoin price is then fixed for 15 minutes before being automatically renewed using the same process. This is necessary because of the value fluctuations.

The invoicing firm then receives its payment electronically through BitPay, but as fiat money.

The advantage for the invoicing business from using a reputable exchange is reduced risk and the likelihood of prompt payments, particularly as clients respond to the 15 minute conversion windows. And for some, who bought Bitcoins when they were cheaper that current prices, there is the prospect of goods or services costing them far less to actually pay for. A win-win.

Although paying for services by crypto may seem something of a niche currently, it is hard to think that will remain the case for much longer, especially as the world moves to paperless transactions in fiat currencies.

Issues around risk are also likely to diminish. Governments are fully engaging with the highly complex task of trying to regulate an essentially invisible, stateless currency; and with regulation will come oversight and a reassuring legitimacy. In fact, something to bank on.

Jon Wedge is a financial services partner at accountancy firm and business advisers BKL.

Further reading: The cryptocurrency investors guide

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How Adoption Of Cryptocurrency Stablecoins Can Open Access To The 1.7 Billion Unbanked and Poor – Forbes

Posted: at 4:45 pm

Public retail adoption of stablecoins might occur more rapidly in countries without a strong banking infrastructure.

The 2017 Global Findex database, launched with funding from the Bill and Melinda Gates foundation, points to advances in digital technology that are key to achieving the World Bank goal of universal financial access.

Stablecoin initiatives are developing at a rapid pace.Adoption of stablecoin, a form of collateralized cryptocurrency pegged to a stable fiat currency like the yen or dollar are being debated by central banks.This is a good signregulators are discussing how blockchain style coins can become mainstream payment options.However in developed economies where the banking sector is more established, regulators are still cautious of risks.

While the basic use-case for the mass adoption of stablecoin is as a potential fiat-currency replacement, how those coins are implemented is hotly debated.Coins collateralized by traditional currency, like the euro, United States dollar or the pound can be structured in different ways.

Based on the European Central Bank (ECB) paper In Search For Stability In Crypto-Assets: Are Stablecoins The Solution? (August 2019), stablecoin adoption, particularly in well-regulated countries, for example counties in the European Union, would need definitive rules governing the accountability of the issuer, decentralization responsibilities, and clear guidelines for what underpins the value of the asset before widespread implementation can occur. Last months statement by the French finance minister regarding the intention to block Libra development in France makes it clear that stablecoin adoption has challenges.

At the same time institutions like the Financial Markets Authority (AMF), part of the French financial regulatory system, announced in July 2019 plans to create a voluntary regulatory framework for crypto firms.

While Libra may face an adoption risk among European nations, it seems clear that coin development will continue.

Recently the president of the ECB said in a letter, dated September 26, 2019, that it is exploring the potential of crypto assets and assessing their impact to monetary policy and retail implications.In the letter the ECB president, Mario Draghi, said that new stablecoin arrangements (such as Libra) backed by large technology companies could have potential for widespread adoption.

However in the same letter a number of concerns were cited where stablecoin initiatives were untested and gave rise to a host of risks and issues.

For proponents of stablecoin adoption, central bank media coverage combined with Facebooks determination to create Libra suggest collateralized coins will have a future, especially in retail payments, sometime in the coming years.

But where can stablecoin trading and exchange find a foothold as a true monetary option in the short term?

Potential adoption can have a competitive advantage in countries where currency volatility, compounded by a poorly regulated banking system or nonexistent financial infrastructure, is the norm.Stablecoin trading can provide access to banking with less volatility, compared to economies where the financial system is viewed with a lack of trust. Venezuela is a good example.

The 2017 Global Findex database, lunched with funding from Bill and Melinda Gates foundation, points to advances in digital technology are key to achieving the World Bank goal of universal financial access. The same report highlights that 1.7 billion people lack a bank account.Stablecoin can become a path for the unbanked to create a stable store of monetary value and exchange. If access to digital technology increases across all nations, the implication for the unbanked and poor may well be widespread crypto adoption over local and less resilient financial systems.

An adoption strategy to watch is where stablecoins can offer an alternative to hyperinflation, offer price stability and financial access to the public.

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What on Earth Is a Quantum Computer, and Why Should You Care? – The Wire

Posted: at 4:44 pm

This is an edition ofQuintessence, a series about fundamental ideas in science.

Earlier this year, IBM unveiled a much-hyped device at the Consumer Electronics Show in Las Vegas: a black cylinder hanging at the centre of a locked glass cage. Light from a wide panel on top bounced off of it. It was a simulacrum of a computing machine but it looked futuristic, even too futuristic. It didnt look like any normal computer because it wasnt.

It is easy to forget that even the simplest function on any electronic device in use today is the result of many, many transistors working in tandem. A keystroke, a button press, a single tap all of it is about current flowing in and out of a transistor, the modern version of which was invented 72 years ago.

A bit, which is the most fundamental unit of computing, refers to the state of a transistor. If the transistor is on, the bit has a value of 1; if the transistor is off, the bit has a value of 0. Every instruction fed to a computer and output derived from it is a pattern of such 0s and 1s. The computers hardware and software manipulate these patterns using a set of rules called Boolean algebra. All this logic flows at blazing speeds, enabling humankind to make rapid technological advancements.

But even though transistors have become incredibly sophisticated over the years and engineers have become able to cram billions of them on tinier and tinier chips, they are still classical objects. The kind of computing they lend themselves to uses the simpler principles of classical physics and is therefore limited by the limitations of these principles. The deepest of them is this: transistors can either be on or off. A bit can only assume one value at a time.

This is where IBMs sleek machine turns the curve. Enclosed in the black cylinder lies the soul of a quantum computer, in the form of a chip that taps into a more esoteric set of computing possibilities.

Also read:A Walk With Steven Kivelson Through the Realm of Strange Materials

Quantum computers are devices that manipulate quantum bits, or qubits. But instead of using a transistor to perform this function, quantum computers directly encode this information onto elementary particles like electrons and photons, or even entire atoms. These particles are thus part of a quantum computers hardware, and because they play by quantum rules, they execute their functions as qubits through strange quantum mechanical effects.

One of these effects is superposition. Where a classical bit has two states 0 and 1 a qubit also has a state where it is neither 0 nor 1 (but not a third value). This value is a fuzzy combination of two states, like 40% 1 and 60% 0. That is, if a classical bit is like a mechanical switch that can be turned on or off, a qubit can be on and off at the same time but neither completely on or off. Classical objects cannot be in such superposition.

Most people have already heard of such behaviour in the form of the Schrdingers cat thought experiment. A cat and a bowl of poison are placed in a sealed box. Until an observer opens the box and checks, the cat a metaphor for subatomic particles is to be considered both dead and alive. Similarly, an unobserved electron can have a spin pointing up and down at the same time, but the moment it is observed, it defaults to one of the two states: either up or down.

Next, two classical bits can have one of the following four configurations: {0, 0}, {1, 1}, {1, 0} and {0, 1}. But two qubits can exist in a mixture of all four at the same time; indeed, N number of qubits can exist as a simultaneous mixture of 2N states, each one representing a possible solution. Put differently, instead of tackling a problem by pursuing one solution at a time like a classical computer, a quantum computer can pursue multiple potential solutions at once and, presumably, arrive at the optimal one faster.

Superposition explains how a single qubit can be more powerful than a single bit. To understand how multiple qubits can work together as computers will require physicists use another concept called entanglement.

Quantum entanglement establishes strong ties between particles such that if one particle changes in a particular way, the other one also changes in a corresponding way. For example, if two qubits are entangled and one of them reveals its state, the other qubit automatically reveals its state as well.

Though the components of a quantum computers are markedly different from those of a classical computer, they still have to behave like computers, including processing instructions and producing an answer to a question in a predictable amount of time. This means a set of entangled qubits in superposition should ultimately collapse into a meaningful configuration of 1s and 0s on demand.

This is tricky. A qubit has a finite probability of existing in one of two quantum states. So N qubits have a tendency to randomly settle into any one of the 2N possible states when measured. Eight qubits, for example, could settle into one of 256 states. To get around this problem, the qubits have to be subtly manipulated to increase their probability of chasing the correct, or more desirable, paths.

Scientists achieve this by orchestrating the qubits in such a way that the signatures of the undesirable quantum states cancel out and the right ones add up. This is how some quantum computing algorithms that can take advantage of this technique based on the idea of interference from high-school physics vastly outperform their classical counterparts.

Also read:The DIY Experiment That Captures All the Mystery of Quantum Physics

For example, a quantum computer could use Grovers algorithm named for the computer scientist Lov Kumar Grover to sift through very large, unstructured databases to find a specific entry faster than a classical machine can. Using Peter Shors algorithm, a quantum computer can find the factors of large integers that are prime numbers much faster than the best algorithms classical computers use.

Scientists in various fields would also like to understand how complex molecules behave and interact with each other. Powerful supercomputers struggle with the dynamics of such many-body interactions, but quantum computers are expected to have a knack for them because theyre networks of particles themselves.

On the flip side, quantum computers arent always better. There are many problems for which classical computers arent efficient and quantum computers arent either. In most of these cases, increasing the scale of the problem exponentially increases the amount of time the computer needs to find the answer. Quantum computers might be able to crack some of them efficiently but not some others.

It would also be prudent to move our eyes away from the horizon of infinite possibilities and towards the mountain range standing in the way. Qubits must be stable and work well together for a computer to compute. This is easier said than done. Multiple qubits in a superposition, and entangled with each other, tend to be quite fragile. Even the smallest physical vibration can destroy their collective coherence, interfere with their quantum nature and induce large errors that can render the machine useless.

Different research groups around the world have stretched engineering to its bleeding edge to prevent such decoherence. IBMs monolithic quantum computer cools its superconducting chip which carries the qubits to about 0.01 K, or 270-times colder than outer space.

Late last month, a paper quietly appeared on and promptly disappeared from a NASA website. In the paper, scientists from Google claimed to have performed a computing task way out of reach of even the best conventional computers using a quantum computer.

The company hasnt issued an official comment or shared a peer-reviewed paper. According to various news reports, its 53-qubit machine performed a purpose-built task a computation in about 200 seconds when a powerful classical machine would have required millennia. If independent experts are able validate Googles claim, it will be the first time a quantum computer will have surpassed a classical machine at a specific task.

That said, we are still decades away from a practically useful quantum computer. The transistor reigns supreme for now.

The author would like to thank Vedangi Pathak and Kevin Dsouza for discussions about quantum mechanics and computing.

Ronak Guptais doing a PhD in fluid mechanics at the University of British Columbia, Vancouver.

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Goldman Sachs can’t seem to find anyone to lead its quantum computing team – eFinancialCareers

Posted: at 4:44 pm

It's been a while now and Goldman Sachs still doesn't seem to have anyone to lead its proposed 'quantum computing research' team.

The firm doesn't date stamp its jobs, but we first noticed it was advertising for a 'Leader of a new quantum computing research team in R&D Engineering,' in early September. One month on, there don't seem to have been any takers: the job is still open.

Goldman didn't respond to a query on the role. It might be simply that the firm is taking its time and interviewing every quantum computing expert on the market. Or it might just be that quantumpeople are hard to come by.

Goldman's requirements are fairly precise: it wants someone who can identify applications for quantum computing across Goldman, who can talk to clients about quantum computing, who can liaise with Goldman staff and academics,and who can lead thenew quantum computingresearch team. The ideal would seem to be a quantum computingPhDwith client facing skills, which might be hard to come by.

In the meantime, Goldman has at least one quantum computing research already.Rajiv Krishnakumar joined the firm in March 2018 and began work in the Franchise Analytics Strategy and Technology (FAST) team, which is tasked with applying machine learning across the firm.Krishnakumar moved into the quantum computing research team as an associate last month. It probably helps that he has a PhD in applied physics from Stanford and that he spent six months as a postdoctoral research fellow in machine learning at Caltech.

Goldman Sachs seems to be unusual among banks in having a dedicated quantum computing research team. Others are certainly interested though -Roland Fejfar, head of technology business development at Morgan Stanley for EMEA and APAC, says on LinkedIn that one of his tasks is to look at 'disruptive technology' like quantum systems. And JPMorgan hired a quantum research scientist on a salary of $150k in New York in March 2019, according to the H1B Visa database.

Google claimed last month that it had built a quantum computer that could perform a calculation in three minutes and 20 seconds instead of the 10,000 years it would take the fastest traditional computer. When and if quantum computers become usable, experts have warned that all existing systems of encryption will become instantly meaningless.

Google is also looking for quantum recruiting talent. It's currently advertising nine roles, seven of which are related to quantum artificial intelligence (AI). All are in California. Goldman, by comparison, wants its quantum researchers in New York City - which may be a harder sell.

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‘Quantum computing’s trapped between hype and hope in science you get surprises and what’s useful may not be what we expect now’ – Times of India

Posted: at 4:44 pm

Todays conventional computers may soon reach their limits. Moores law, which predicts that it takes about two years to double the power of computers, is expected to reach a dead end soon. Dealing with more complex problems ahead needs quantum computers, where individual atoms store and process information.Serge Haroche,a French physicist who won the Nobel Prize in 2012 for his work on manipulating individual quantum systems, discussed the subject withShimona Kanwarduring a recent visit to India.

August saw an agreement between India and France on cooperation in the fields of quantum computing. Where do you see this association headed?

I think laboratory scale classical computing is a matter of technology and one can see in what direction it is going.Quantum computing is still a question of basic science. So, you cannot predict if and when it will lead to practical applications. There is big progress in quantum computing, quantum communication and quantum meteorology using quantum devices. There are laboratories working on these in India and France.

One way to combat the quantum decoherence is supercooling, but its impractical for commercialisation. What kind of solution will emerge?

There are methods called quantum error correction to combat decoherence. This works on paper but not to the level of precision which is required to get a quantum computer. It means if you get a practical device, it will be very cold and not like a laptop which everybody can have at home. There are lot of challenges to scale up to a size which is useful. There is lot of hype in the field of quantum devices. Many private companies which are involved in this want to make profit. Quantum computing is trapped between hype and hope. A hope that one day it will lead to something useful. But as always in science you get surprises and what will be useful is may be not what we expect now.It is very rare in science where you have a path which leads you to a discovery that is predicted 20-30 years ahead of time. For the time being, quantum computing is basic science and not applied yet. Those who promise quantum computers are overselling, I think.

Why are researchers not motivated to pursue basic science?

I think basic science is background. You cannot have applied if there is no basic. Basic science requires a lot of time. Before it gives us application, it takes a very long time. For instance, the first idea of the laser wasgiven by Einstein in 1916 and the first laser came up in 1960. It took 44 years between the basic discovery and the invention. Sometimes it takes less time, but on an average 10-20 years. The big problem we have as scientists is to make sure that people will give us money and keep patience, and not ask for short term results. You need to build an atmosphere of trust and give time to basic science to develop.I think one of the problems is that there are not many positions in basic science. If you do not nourish basic science, you will not have good applied science.

Can we have Chinas model where there is huge investment in science?

China invests a huge amount and has made advances in science in the last 20 years. They have very good science institutes. They do good science in physics and biology. China has one problem and that is lack of freedom. I think science cannot be disconnected from humanities. A good scientist needs to have freedom of soul, freedom to choose his topic and to work with passion. A good scientist is driven by his/her own curiosity. I am sure if China gives more freedom to its researchers, it will be much more productive than it is now.

CERN (European Organisation for Nuclear Research) has been a successful example of science diplomacy. What advice would it give?

CERN is a very big project as it involves thousands of researchers from all over the world. This is necessary as it is a project in high energy physics and requires huge instruments like big accelerators which no single country can manage. However, my area of working is in small scale physics. As a policy, small-scale physics is very interesting as it brings PhD students hands on with physics and they are responsible for their own project.So, it is a very different way of training people. I think for a country like India, this small-scale physics is good becauseit allows it to develop science in different institutes.A big project like CERN or space agency projects are interesting for governments as it gives them bigger media attention. I think the work you do on smaller scale, even if it does not attract attention, is more fruitful.

DISCLAIMER : Views expressed above are the author's own.

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Six Impossible Things: The Mysteries Of The Subatomic World – Forbes

Posted: at 4:44 pm

This book shows how our understanding of quantum physics is mostly, but not entirely, correct

Cover: Six Impossible Things by John Gribbin(Credit: Icon Books Ltd, 2019).

Quantum physics is so bizarre that even physicists dont understand it. According to the rules of quantum physics, a cat can be alive and dead at the same time, an electron can be in two places simultaneously, and a subatomic particle can also be a wave. But nobody has ever been able to provide a rational explanation for how these contradictory and seemingly impossible things can be true. Basically, the subatomic world is so strange that even Einstein could only shrug and describe it as spooky action at a distance.

Undaunted, British science writer and astrophysicist John Gribbin wrote a small book, Six Impossible Things (Icon Books; 2019: Amazon US / Amazon UK) that succinctly summarizes six of the foremost hypotheses that seek to explain the mysteries of the subatomic world. This slim hardcover is an elegant and accessible attempt to explain quantum physics to the nonspecialist, and is one of the six books included on the shortlist for the Royal Society Insight Investment popular Science Book Prize for 2019.

Six of the books ten chapters correspond to each of the six most popular explanations that may underlie quantum physics weirdness: All of them are crazy, and some are more crazy than others, Dr. Gribbin notes early in his book, but in this world crazy does not necessarily mean wrong, and being more crazy does not necessarily mean more wrong (p. xvii). The six impossible things include the Copenhagen Interpretation, the Pilot Wave Interpretation, the Many Worlds Interpretation, the Decoherence Interpretation, the Ensemble Non-Interpretation (also known as the Statistical Interpretation), and the Timeless Transactional Interpretation.

The chapters are quite short (as is the book itself), and include black-and-white diagrams and images of the main proponents of each hypothesis along with a condensed and readable description of that hypothesis. Professor Gribbins coherent summary of each hypothesis makes these incredibly complex ideas, puzzled over by physics leading minds since the late 1920s, into something that may be vaguely comprehensible to most readers, even if these ideas remain firmly embedded in the realm of the fantastic for physicists as well as for mere mortals.

Beside the fact that simply reading this book gave me incredible dreams, I was most tantalized during my waking hours by Dr. Gribbins too brief description of quantum computing, a fascinating technological advancement that cannot come too soon, in my opinion. But more interesting even than quantum computing (and its concomitant cybersecurity) is coming to a firm understanding about the reason that it works and that remains elusive.

The book lacks maths, so if you are skittish about mathematics, or lack a maths background, you will breathe a sigh of relief to discover that this book is still quite comprehensible well, as intelligible as quantum physics can be made.

If quantum physics still leaves you breathless, Professor Gribbin also summarizes each of these six impossible interpretations in a neat, and amusing, single sentence. Highly recommended for students of the sciences and fans of science fiction, as well as for anyone who is curious to understand the strange world of quantum physics.

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Six Impossible Things: The Mysteries Of The Subatomic World - Forbes

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