Welcome to QX Snapshots - a weekly recap of the key news on emerging technologies. In this newsletter, you will get a "digest" of the latest info on Enterprise Blockchain, AI, Quantum Technology. Hope it brings you value :)
If you are interested in emerging technologies and you like what you read, consider subscribing to our newsletter on LinkedIn!
Every Friday we share key snapshot news on AI, Quantum Technologies, Metaverse, and Enterprise Blockchain/DLT.
Join our +500 trusted readers at U.S Bank, Eurasian Development Bank, EY, Morgan Stanley, BNY Mellon, Microsoft, Verizon, Facebook, ServiceNow, ConsenSys, Polygon Labs, Duke University, Sky, Informa, Freshfields Bruckhaus Deringer, Santander, and others.
[Blockchain] Kraken Joins Optimism's Superchain with New Ink Layer-2 Network, Aurum Launches $1B Tokenized Fund on XRP Ledger, VanEck Introduces Solana Staking ETN, and Centrifuge Partners with Fireblocks for Enhanced Tokenization. Kraken, the world's 6th-largest crypto exchange, announced it will launch Ink, a new layer-2 network built on Optimism's OP Stack technology - already used by Coinbase's Base network. Set to launch in early 2025, this move adds Kraken to the growing "Superchain" ecosystem of Optimism-based networks, which includes 43 rollups with $18.1 billion in total value locked. This decision strengthens Optimism's position against rival Arbitrum in providing technology for Ethereum layer-2 solutions. Meanwhile, Aurum Equity Partners is launching a $1 billion tokenized fund on XRP Ledger, focusing on data center investments across five regions including the US, UAE, and India. Using Zoniqx's tokenization technology, it claims to be the first combined equity and debt tokenized fund. This launch supports Ripple's expansion into real-world asset (RWA) tokenization, a market projected to reach trillions of dollars. The initiative coincides with Ripple's pending US dollar stablecoin approval in New York. Also, VanEck Europe has introduced staking rewards for its $73.9 million Solana exchange-traded note (VSOL) listed on Euronext Amsterdam. The ETN will reinvest daily Solana staking rewards into its net asset value, with a 25% fee. The non-custodial staking feature is currently exclusive to Europe, though VanEck's head of digital assets research believes US spot Solana ETFs are "inevitable." Solana-based products rank third in crypto investments with $58 million in inflows, following Bitcoin and Ethereum products. And, Centrifuge has integrated with Fireblocks to enhance its tokenization platform for asset managers. The partnership gives Centrifuge users access to Fireblocks' network of 2,000+ institutional clients and enables secure custody and wallet management services. Through this integration, customers like BlockTower can leverage Fireblocks' security framework while using Centrifuge's tokenization process for structured credit assets.
[AI] Anthropic's Claude 3.5 Sonnet Can Now Operate Computers, Runway Launches AI Animation Tool Act-One, and Meta Unveils Compressed Llama Models for Smartphone AI. Anthropic has announced that Claude 3.5 Sonnet can now use computers by moving cursors, clicking, and typing through a virtual keyboard - currently in public beta. This breakthrough allows AI to interact with any software like humans do, rather than requiring specialized tools. The model achieves 14.9% on the OSWorld evaluation, leading other AI models but still below human performance (70-75%). While presenting some safety challenges like prompt injection risks, Anthropic believes introducing computer use now is better than waiting for more advanced models. The capability remains slow and error-prone but is expected to improve rapidly. Meanwhile, Runway has launched Act-One, a new tool within Gen-3 Alpha that generates character animations from simple video and voice inputs. Unlike traditional animation pipelines requiring complex equipment, Act-One creates expressive performances directly from actor footage. The tool works with various character designs and camera angles while maintaining realistic facial expressions. It enables creators to produce dialogue scenes using just a consumer camera and one actor. Runway is implementing safety measures, including public figure detection and voice rights verification, as they roll out access to users. Also, Meta has developed compressed versions of its Llama AI models that can run directly on smartphones, using techniques called QLoRA and SpinQuant. These smaller models use 41% less memory, are 56% smaller, and run up to four times faster than earlier versions when tested on Android phones. By partnering with chip makers Qualcomm and MediaTek and making the models open-source, Meta is bypassing traditional platform controllers like Apple and Google. This breakthrough enables AI to run locally on phones rather than in data centers, potentially transforming how users interact with AI while maintaining privacy.
[Quantum Technology] DOE's $30M Quantum Program Targets Breakthroughs in Chemistry, SpaceX to Launch Quantum Experiment to ISS, and EU Invests $97M in EuroQCI for Ultra-Secure Quantum Communication. The Department of Energy's ARPA-E has launched the $30 million QC3 program to develop quantum computing algorithms for chemistry and materials science research. The initiative aims to achieve 100x improvement over classical computing methods in areas like catalyst design, superconductors, and battery development. Projects must demonstrate significant energy impact or greenhouse gas reduction potential. The program supports ARPA-E's mission to advance early-stage energy technologies through quantum solutions that exceed classical computing limitations. Meanwhile, The SpaceX CRS-31 mission in November 2024 will transport the SEAQUE quantum communication experiment to the International Space Station. Led by the University of Illinois, the experiment will test quantum entanglement technology in space conditions through the MISSE-20 platform. SEAQUE aims to improve quantum computer communications, establish secure long-distance connections, and develop self-healing quantum nodes. The research could enable Earth-based quantum networks and space-based quantum cloud computing, with implications for secure global communications and space exploration. Also, The EU is expanding quantum communication infrastructure through the EuroQCI initiative with a $97 million investment. The project aims to establish ultra-secure communication channels across member states using both terrestrial and satellite quantum networks. The funding focuses on developing cross-border connections using quantum key distribution technology to prevent eavesdropping. According to The Quantum Insider, quantum communication companies represent 15% of the quantum technology sector, with this initiative forming 8% of total EU quantum investments.
[General technology] Apple Opens Private Cloud Compute for Security Testing with $1M Bounties, LinkedIn Fined €310M for GDPR Violations, and New Qilin Ransomware Variant Targets Healthcare. Apple has released its Private Cloud Compute (PCC) Virtual Research Environment for public inspection, allowing researchers to verify its security claims. The company is offering bounties up to $1 million for identifying security vulnerabilities in PCC. The virtual environment includes tools for analysis and source code access via GitHub. This move comes amid growing concerns about security, including recent discoveries of methods to bypass safeguards, such as the Deceptive Delight technique for tricking chatbots and the ConfusedPilot attack targeting RAG-based systems like Microsoft 365 Copilot. Meanwhile, the Irish Data Protection Commission has fined LinkedIn €310 million ($335 million) for GDPR violations related to user data processing for targeted advertising. The investigation found LinkedIn failed to obtain explicit user consent and properly inform members about data processing practices. The company violated three GDPR principles concerning transparency and fairness. LinkedIn has three months to comply with GDPR requirements. Meanwhile, privacy group noyb has filed a separate complaint against Pinterest for similar tracking practices without user consent. Also, a new variant of Qilin ransomware, called Qilin.B, has emerged with enhanced encryption capabilities using AES-256-CTR or Chacha20, and improved evasion tactics. The ransomware, which switched from Golang to Rust, can terminate security tools, clear Windows Event Logs, kill backup processes, and self-delete. Its affiliates receive 80-85% of ransom payments. Related research shows healthcare is particularly vulnerable, with 389 U.S. institutions attacked this year, facing daily losses of $900,000, and median ransom payments of $1.5 million.
Transforming Asset Servicing with AI, Oracles and Blockchains - Chainlink
Tokenisation in the context of money and other assets: concepts and implications for central banks - BIS
Legal & General's $1.5 trillion asset management arm mulls fund tokenization - The Block
Stripe Acquires Stablecoin Platform Bridge for $1.1 Billion - Bloomberg
Building Bitcoin - Funding a $1.2 Trillion Dollar Project - 1A1z
Adopting Generative AI in banking - Deutsche Bank
Perplexity says it’s now serving 100M search queries a week - TechCrunch
OpenAI plans to release its next big AI model (Orion) by December - The Verge
Lazarus Group Exploits Google Chrome Vulnerability to Control Infected Devices - The Hacker News