PayPal Executes First PYUSD Business Payment, Visa Launches Tokenized Asset Platform, Swift’ Live Trials, and UK Introduces Digital Securities Sandbox
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[Blockchain] PayPal Executes First PYUSD Business Payment, Visa Launches Tokenized Asset Platform, Swift’ Live Trials, and UK Introduces Digital Securities Sandbox. PayPal completed its first business payment using its PYUSD stablecoin to Ernst & Young via SAP's digital currency hub. This demonstrates how corporations can use stablecoins for instant payments. Launched in August 2023, PYUSD has a $699 million market cap.? Meanwhile, Visa introduced the Visa Tokenized Asset Platform (VTAP), enabling financial institutions to issue and manage fiat-backed tokens on blockchain networks. Benefits include minimal technical integration, smart contract functionality, and potential for automating financial processes. BBVA has been testing VTAP's sandbox, aiming for a live pilot in 2025 on the Ethereum blockchain. Visa aims to bridge fiat currencies with blockchain technology, leveraging its global network and expertise. The platform is designed to facilitate the adoption of tokenized assets and enhance existing financial infrastructure for increased efficiency and always-on capability. Also, Swift is launching live trials of digital asset and currency transactions on its network in 2025 , involving banks across North America, Europe, and Asia. Swift's infrastructure will orchestrate transactions across multiple networks, providing a single access point for various digital assets and currencies. The trials build on successful experiments connecting blockchains and CBDCs.? And, the Bank of East Asia (BEA) and Universal Digital Payments Network (UDPN) successfully completed a Proof-of-Concept for minting, managing, and transferring bank-issued stablecoins and tokenized deposits. BEA tested UDPN's Tokenised Deposit/Stablecoin Management System and Stablecoin Business System, gaining insights into CBDCs and stablecoin mechanisms. Also, the UK has launched a Digital Securities Sandbox (DSS) to explore the potential of distributed ledger technology in financial markets. Running until December 2028, the DSS aims to make markets more efficient and maintain the UK's position as a global financial center. The program is divided into four stages: initial application, testing, go-live, and scaling. Eligible digital securities include equities, bonds, and fund units.?
[AI] OpenAI Launches 'Canvas' for Collaborative Writing and Coding in ChatGPT, Google Enhances Search with AI, and DeepMind & BioNTech Develop AI Lab Assistants. OpenAI introduces canvas, a new interface for ChatGPT that enhances collaboration on writing and coding projects. Canvas opens in a separate window, allowing users to work alongside ChatGPT with improved context understanding and targeted editing. It offers shortcuts for various tasks like adjusting text length, debugging code, and changing reading levels. The GPT-4o model was trained to be a creative partner, with capabilities including triggering canvas appropriately, making targeted edits, and providing inline critique. Canvas is currently available to ChatGPT Plus and Team users, with plans to extend access to all users. This beta represents a significant update to ChatGPT's interface since its launch two years ago. Meanwhile, Google is enhancing Search with AI, introducing new features for visual and audio queries. Lens now offers video understanding and voice questions, improving visual search capabilities. Circle to Search can now identify songs in various media. AI-organized search results are being rolled out. AI Overviews now include prominent links to supporting webpages, increasing traffic to these sites. Google explained that these updates aim to expand the ways users can search and access information, leveraging AI to reimagine the Search experience. Also, Google DeepMind and BioNTech are developing AI lab assistants to aid scientific research. DeepMind is creating a science-focused large language model to help plan experiments and predict outcomes. BioNTech and InstaDeep have designed Laila, an AI assistant with biological knowledge, built on Meta's Llama 3.1 model. These AI tools aim to automate routine tasks, monitor experiments, and accelerate productivity in scientific research. The focus is on enhancing human scientists' capabilities rather than full automation. This development is part of a broader trend of tech companies adapting AI models for scientific breakthroughs. The goal is to streamline experimental processes and facilitate scientific discoveries.
[Quantum Technology] IBM Opens European Quantum Data Center in Germany, UK's MARCONI Project Advances Quantum Key Distribution, and India's National Quantum Mission Launches Four Innovation Hubs. IBM has opened its first European Quantum Data Center in Ehningen, Germany, marking a significant expansion of its global quantum computing capabilities. The center features advanced IBM Quantum Eagle-based systems and will soon include an IBM Quantum Heron-based system, offering improved performance and speed. This facility allows European enterprises and research institutions to access IBM's quantum fleet, advancing quantum algorithm discovery. The opening was attended by German Chancellor Olaf Scholz and industry leaders. IBM's quantum network includes over 250 global organizations, with 80+ based in Europe. Meanwhile, the UK's ￡1.5m MARCONI project, funded by Innovate UK, aims to develop high-performance OEM receiver modules for quantum key distribution (QKD) . Two types of receivers are being created: a SPAD system for short-range communications and an SNSPD system for long-distance applications, both using UK-made components. The University of Cambridge will demonstrate these receivers in entanglement-based QKD transmissions. MARCONI addresses the need for a UK-led supply chain in quantum networking components and aims to enhance the scalability of quantum networks. The project is expected to disrupt the growing QKD market, reduce reliance on single-source suppliers, create jobs, enhance national security, and boost the UK photonics industry's reputation. And, India's National Quantum Mission (NQM) has launched four Thematic Hubs (T-Hubs) to drive innovation in quantum computing , communication, sensing, and materials. Located at top institutions like IISc Bengaluru and IITs, these hubs involve 152 researchers from 43 institutions. The initiative aims to position India as a leader in quantum technology, integrating with national programs like 'Make in India' and 'Digital India'. The NQM focuses on bridging research and industry, supporting quantum-driven entrepreneurship, and creating societal impact in sectors such as telecommunications, healthcare, defense, and finance.?
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[General technology] CISA Warns of Critical Vulnerability in Ivanti Endpoint Manager, Europol Cracks Down on LockBit Ransomware Group, and Sophisticated Spear-Phishing Campaign Targets Recruiters. ?CISA warns of active exploitation of a remote code execution vulnerability (CVE-2024-29824) in Ivanti Endpoint Manager (EPM), a widely used tool that helps organizations manage and secure their fleets of employee devices. The flaw allows unauthenticated attackers to run malicious code on affected servers. Federal agencies must update by October 23. Ivanti confirms "limited" customer targeting but hasn't disclosed the extent of compromises or data exfiltration. This incident follows recent exploitations of vulnerabilities in Ivanti's Connect Secure VPN. With over 40,000 corporate customers, including many Fortune 100 companies, Ivanti's security issues pose significant risks to the federal and corporate sectors. Meanwhile, Europol led a coordinated action against the LockBit ransomware group, involving 12 countries. Four arrests were made, including a suspected developer and a Bulletproof hosting service administrator. Nine servers were seized in Spain. The UK, US, and Australia imposed sanctions on LockBit affiliates and Evil Corp members. This operation, part of "Operation Cronos," follows previous disruptions of LockBit's infrastructure. LockBit was the most widely used ransomware globally between 2021 and 2023, targeting various sectors.? Also, a sophisticated spear-phishing campaign targeting recruiters with the More_eggs backdoor has been detected. The attack, possibly linked to FIN6, uses fake job applications to trick people into downloading malicious files disguised as resumes. More_eggs, a malware-as-a-service, can steal credentials and is attributed to the Golden Chickens group. The infection process involves a ZIP file containing a LNK file, which triggers a series of commands leading to the More_eggs backdoor installation. Additionally, FIN7, another cybercrime group, has been observed using a private packer called PackXOR and hosting honeypot domains to distribute various malware, including stealer programs and remote access tools.
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