The Fed's Tokenization Overview, DALL-E + ChatGPT + Bing, AntChain's Eco Blockchain Boost, Walmart's Metaverse Move, and Intel's Quantum Silicon Play!
Hi Everyone,
Welcome to QX Snapshots - a weekly recap of the key news on emerging technologies. In this newsletter, you will get a "digest" of latest info on AI, Quantum Technology, Industrial Metaverse and Enterprise Blockchain.
Hope it brings you value :)
[Quantum Technology] Intel Leverages Silicon Expertise for Quantum Edge. Intel is developing a new quantum computing processor to compete with rivals like IBM and Google. Quantum computers use qubits that can represent both 1 and 0, unlike standard binary bits. This allows quantum computers to solve complex problems like materials science, finance, and AI optimizations. However, qubits are unstable and scaling up quantum computers is challenging. Intel believes its novel spin qubit approach, which resembles conventional silicon chip manufacturing, will enable higher qubit counts. Rivals use different qubit technologies like superconducting circuits or ion traps. Intel's new sequel to its 12-qubit Tunnel Falls processor will have more qubits, though Intel won't disclose how many yet. For Intel, qubit quality matters more than quantity currently. Its spin qubits built with silicon could let Intel manufacture quantum processors at scale using its existing fabs. Rivals like IBM aim to hit over 1,000 qubits this year, while China and India race to build 1,000+ qubit quantum computers by 2025-2031. India just launched a $730 million National Quantum Mission. However, developing practical quantum applications requires millions of high-quality qubits. Intel hopes its conventional silicon chipmaking expertise will give it an edge in the long run.Quantum computing shows promise for materials science, battery development, finance, cryptography and more. But it remains early days in the quantum computing race.
[AI] OpenAI and Microsoft Double Down on AI Collaboration with DALL-E 3. OpenAI has unveiled DALL-E 3, an upgraded version of its AI text-to-image generator. DALL-E 3 integrates OpenAI's viral chatbot ChatGPT to assist users in creating prompts and descriptions to generate images. Subscribers to ChatGPT's premium plans will soon be able to seamlessly create images via conversational prompts within ChatGPT. Beyond easier prompting, DALL-E 3 generates higher quality images that better reflect prompts, especially long ones, and handles tricky content like text and hands more accurately. DALL-E 3 also has new mechanisms to reduce bias and improve safety, like rejecting improper prompts and letting artists opt-out of training data. In related news, Microsoft will be integrating DALL-E 3 into Bing search to generate images from user queries. This follows Microsoft's addition of ChatGPT features into Bing in February to provide conversational responses. Microsoft has invested heavily in AI, including a $10 billion partnership with OpenAI. Microsoft also announced new features for Bing chatbot - the ability to reference previous conversations to provide more contextually relevant responses. This mimics human conversation by giving the bot "memory". Additionally, Microsoft's AI assistant Copilot will launch November 1st, offering generative suggestions in Office 365 apps.
[Blockchain] AntChain Leverages Blockchain to Boost Battery Recycling Efficiency. AntChain, the blockchain arm of Ant Group, is using blockchain technology to improve efficiency and costs in lithium-ion battery recycling in China. With surging adoption of electric vehicles, China's battery recycling industry is growing but suffers from being decentralized and disorganized, resulting in pollution and wasted resources. Traditionally, battery recycling involves inefficient and costly sampling methods. AntChain's blockchain provides a tamper-proof record of battery lifecycle data like charge levels and health, securely transferred from electric two-wheeler company Dudu Power to recyclers. This cuts inspection costs and allows better cascade utilization where healthier batteries are reassembled rather than crushed. AntChain estimates efficiency can increase 20-30% with blockchain traceability. The immutable battery history aids circulation, utilization, and recycling. AntChain has registered over 8 million new energy devices on its blockchain platform. It is building an ecosystem for battery recycling with partners, addressing trust issues and massive data in new energy industry. AntChain seeks to apply blockchain across the industry, like exploring other use cases to resolve pain points and contribute to China's new energy growth.
[Metaverse] Walmart and its commercial strategy in the metaverse. Walmart's plans to expand into the metaverse for virtual commerce. Walmart announced it is exploring new ways to connect physical and virtual shopping through metaverse experiences. Examples include selling virtual goods in games that resemble Walmart products and partnering with virtual world Zepeto for digital clothing. Walmart sees huge potential to engage customers and pioneer virtual commerce, where real-life and virtual items can be purchased together. Walmart can leverage its physical stores to enhance metaverse experiences, like providing free virtual goods with physical purchases. A key goal is enabling contextual commerce natively within virtual worlds using Walmart accounts, without needing to exit to a website. Walmart believes its extensive physical footprint gives it an advantage in blending real and virtual shopping. It plans to introduce more metaverse concepts over the next year as it competes with Amazon and Alibaba. Total spending in metaverse-related activities is projected to reach up to $13 trillion by 2030. Walmart asserts it can uniquely enhance customer experiences by linking physical and virtual worlds. It aims to make the metaverse accessible and build trust and safety as a digital leader.
[General technology] ?SpaceLab Offers Affordable Access to Orbital Experiments. Frontier Space Technologies is developing SpaceLab, an autonomous on-orbit laboratory to make space science more accessible. Space experiments currently rely on limited and expensive astronaut time on the International Space Station. SpaceLab aims to solve this by enabling multiple microgravity experiments to run simultaneously in orbit without human involvement. SpaceLab emerged from student projects at Cranfield University in the UK. A successful high-altitude balloon flight of a SpaceLab prototype in 2021 led the founders to commercialize the technology. SpaceLab is a small satellite that combines an experiment payload and interface in one 3U CubeSat unit. A key feature is the Multi-Chamber Sample Disc which can isolate multiple samples on one disc, allowing for independent manipulation. The disc aligns samples with various sensors depending on the experiment requirements. Initial experiments will focus on protein crystallization and live cell cultures to demonstrate SpaceLab's capabilities. SpaceLab offers companies and researchers affordable access to space experiments without reliance on astronauts. By enabling multiple experiments in one platform, SpaceLab can significantly expand microgravity research. Frontier has received grants from the UK Space Agency and secured a commercial customer as it works towards its first space mission. The company aims to make space science easy and accessible.
领英推荐
FEATURED: ‘Tokenization: Overview and Financial Stability Implications’
By: Francesca Carapella, Grace Chuan, Jacob Gerszten, Chelsea Hunter,
Nathan Swem
“In this paper we outline tokenization, which is a new and rapidly growing financial innovation in crypto asset markets, and we discuss potential benefits and financial stability implications. Tokenization refers to the process of constructing digital representations (crypto tokens) for non-crypto assets (reference assets).1 As we discuss below, tokenizations create interconnections between the digital asset ecosystem and the traditional financial system. At sufficient scale, tokenized assets could transmit volatility from crypto asset markets to the markets for the crypto token’s reference assets.?
The term “tokenization” refers to the process of linking reference assets to crypto tokens via design features that link the token’s price to the value of the token’s reference asset.2 In the strictest sense, tokenization would allow for a crypto token holder to have a legally enforceable ownership claim over the token’s reference asset.3 So far, tokenization projects have been typically financed and developed by small venture-capital backed crypto companies. In addition, financial firms such as Santander, JP Morgan, and Franklin Templeton, have announced crypto related projects or pilot programs relating to tokenization.4 As is the case with stablecoins, tokenizations have widely varying design features and characteristics.5 In general, a tokenization involves five design features: 1) a blockchain, 2) a reference asset, 3) a mechanism to assess the value of the reference asset, 4) a means to store and/or provide custody for the reference asset, and 5) a mechanism to facilitate redemptions of the token and/or the reference asset. Taken together, these components generate links between the crypto markets and the markets for the reference assets. These design choices can help distinguish token types and help determine each type’s impact on traditional financial markets.
The first tokenization design element that we outline is the underlying blockchain on which the crypto tokens are issued, stored, and transacted. Some crypto tokens are issued on private permissioned blockchains, and others are issued on public permissionless blockchains. A permissioned blockchain is generally controlled by a centralized entity that grants approval to selected users in an isolated ecosystem. Crypto tokens issued on permissionless blockchains (Bitcoin, Ethereum, Solana, etc.) are broadly accessible and can be used with fewer restrictions. Crypto tokens on permissionless blockchains can also be incorporated into decentralized finance (DeFi) protocols such as decentralized exchanges.”
Read the full paper: here.
If you enjoyed today’s QX Snapshots, I would love it if you subscribed for more. Can’t wait a full week? You can keep up with me here on LinkedIn for daily emerging technology content.