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JPMorgan Says Quantum Experiment Generated Truly Random Numbers

3 months 1 week ago
JPMorgan Chase used a quantum computer from Honeywell's Quantinuum to generate and mathematically certify truly random numbers -- an advancement that could significantly enhance encryption, security, and financial applications. The breakthrough was validated with help from U.S. national laboratories and has been published in the journal Nature. From a report: Between May 2023 and May 2024, cryptographers at JPMorgan wrote an algorithm for a quantum computer to generate random numbers, which they ran on Quantinuum's machine. The US Department of Energy's supercomputers were then used to test whether the output was truly random. "It's a breakthrough result," project lead and Head of Global Technology Applied Research at JPMorgan, Marco Pistoia told Bloomberg in an interview. "The next step will be to understand where we can apply it." Applications could ultimately include more energy-efficient cryptocurrency, online gambling, and any other activity hinging on complete randomness, such as deciding which precincts to audit in elections.

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Fidelity Prepares To Unveil Its Own Stablecoin

3 months 1 week ago
According to the Financial Times, Fidelity Investments is in advanced stages of developing its own stablecoin. Binance reports: The Boston-based financial services giant plans for the token to serve as a form of digital cash, according to the report, which cites two people close to the matter. The token would form part of company's strategy to enter the tokenized government bonds market. Stablecoins are a cryptocurrency whose value is pegged to a real-world asset such as the U.S. dollar or gold. They provide a convenient way for crypto traders to preserve their fiat value without having to cash out of the market. The news emerges just days after Fidelity filed paperwork to register a blockchain-based version of its U.S. dollar money market fund. The company seeks to register an "OnChain" share class of its Treasury Digital Fund (FYHXX), which holds cash and U.S. Treasury securities and is available only to Fidelity's hedge fund and institutional clients. A Fidelity stablecoin could fill the role of cash in this fund. The report comes a day after World Liberty Financial, a crypto venture backed by Donald Trump and his family, launched a U.S. dollar-pegged stablecoin called USD1.

Read more of this story at Slashdot.

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