Blockchain Press Releases
BMW Group, Airbus and Quantinuum Collaborate to Fast-Track Sustainable Mobility Research Using Cutting-Edge Quantum Computers
MUNICH, TOULOUSE, France, and CAMBRIDGE, England, Aug. 2, 2023 /PRNewswire/ — Airbus, BMW Group and Quantinuum, world leaders in mobility and quantum technologies, have developed a hybrid quantum-classical workflow to speed up future research using quantum computers to simulate quantum systems, focusing on the chemical reactions of catalysts in fuel cells.
In a new technical paper, “Applicability of Quantum Computing to Oxygen Reduction Reaction Simulations“, the three partners report accurately modeling the oxygen reduction reaction (“ORR”) on the surface of a platinum-based catalyst. The ORR is the chemical reaction in the process that converts hydrogen and oxygen into water and electricity in a fuel cell and it limits the efficiency of the process. It is relatively slow and requires a large amount of platinum catalyst, so there is great interest and value in better understanding the underlying mechanisms involved in the reaction.
Using Quantinuum’s H-Series quantum computer, the collaboration team has demonstrated the applicability of quantum computing in an industrial workflow to enhance our understanding of a critical chemical reaction. The three companies plan further collaboration to explore the use of quantum computing to address relevant industrial challenges.
Dr. Peter Lehnert, Vice-President, Research Technologies at BMW Group stated: “Circularity and sustainable mobility are putting us on a quest for new materials, to create more efficient products and shape the future premium user experience. Being able to simulate material properties to relevant chemical accuracy with the benefits from the accelerating quantum computing hardware is giving us just the right tools for more speed in innovation for this decisive domain.”
As a pioneer in the global automotive market BMW Group recognizes the transformative potential of quantum computing and its importance in researching new materials, where it can enable faster and more efficient processes while reducing lab prototypes. Approaching and accurately simulating one of the most fundamental electrochemical processes for the first-time using quantum computing marks a substantial step towards the sustainable energy transition, benefiting metal-air batteries, and other products with enhanced efficiency.
Isabell Gradert, Vice-President, Central Research & Technology at Airbus said: “We can clearly envision the benefits of the study in our quest for sustainable and hydrogen powered alternatives such as the ZEROe aircraft, which may operate on fuel cell engines. The study confirms that quantum computing is maturing at the scale we need for aviation.”
Airbus has identified hydrogen as a promising candidate to power low-carbon aircraft, because it emits no CO2 when flying, when generated from renewable energy. The company previously announced plans to start testing a hydrogen-powered fuel cell propulsion system onboard its ZEROe demonstrator aircraft in the next few years. The company has the ambition to develop the world’s first hydrogen-powered commercial aircraft for market entry by 2035.
Ilyas Khan, Chief Product Officer, Quantinuum said: “We have been excited to be working for some time now to support the BMW Group and Airbus, both leaders in their fields, and both of whom recognize that quantum computing could play a pivotal role in advancing future sustainable mobility. In this pioneering work, we demonstrate how to integrate quantum computing into the industrial workflows of two of the world’s most technologically advanced companies, tackling material science problems that are a prime target for progress using quantum computing.”
The research team hopes that understanding the ORR reaction provides insights that help them identify alternative materials that may improve the performance and reduce the production costs of fuel cells. Modeling chemical reactions such as the ORR accurately is an intractable task for classical computers, due to the quantum properties of the chemical mechanisms involved, making such simulations a good candidate to benefit from a potential quantum advantage in the future.
Notes to editors:
About Quantinuum
Quantinuum is the world’s largest standalone quantum computing company, formed by the combination of Honeywell Quantum Solutions’ world-leading hardware and Cambridge Quantum’s class-leading middleware and applications. Science-led and enterprise-driven, Quantinuum accelerates quantum computing and the development of applications across chemistry, cybersecurity, finance and optimization. Its focus is to create scalable and commercial quantum solutions to solve the world’s most pressing problems in fields such as energy, logistics, climate change, and health. The company employs over 480 individuals, including 350+ scientists and engineers, at eight sites across the United States, Europe, and Japan. For more information, please visit https://www.quantinuum.com. The Honeywell trademark is used under license from Honeywell International Inc. Honeywell makes no representations or warranties with respect to this service.
The BMW Group
With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services. The BMW Group production network comprises over 30 production sites worldwide; the company has a global sales network in more than 140 countries.
In 2022, the BMW Group sold nearly 2.4 million passenger vehicles and more than 202,000 motorcycles worldwide. The profit before tax in the financial year 2022 was € 23.5 billion on revenues amounting to € 142.6 billion. As of 31 December 2022, the BMW Group had a workforce of 149,475 employees.
The success of the BMW Group has always been based on long-term thinking and responsible action. The company set the course for the future at an early stage and consistently makes sustainability and efficient resource management central to its strategic direction, from the supply chain through production to the end of the use phase of all products.
About Airbus
Airbus pioneers sustainable aerospace for a safe and united world. The Company constantly innovates to provide the most efficient and technologically-advanced solutions in aerospace, defence, and connected services. In commercial aircraft, Airbus offers the most modern and fuel-efficient airliners. Airbus is also a European leader in defence and security and one of the world’s leading space businesses. In helicopters, Airbus provides the most efficient civil and military rotorcraft solutions worldwide.
Photo: https://mma.prnewswire.com/media/2167646/Quantinuum_H2.jpg
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A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
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Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
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Blockchain
Existing Blockchains Can’t Adopt Post-Quantum Cryptography Without Significant User Impact, Says Johann Polecsak
Johann Polecsak argues that existing blockchains face significant challenges in adopting post-quantum cryptography without causing substantial disruption to users. This assessment highlights the complex and multifaceted nature of transitioning to new cryptographic standards in blockchain networks.
Post-quantum cryptography refers to cryptographic algorithms that are resistant to attacks from quantum computers, which have the potential to break traditional cryptographic schemes. While post-quantum cryptography offers enhanced security, implementing it in existing blockchain networks poses technical, operational, and usability challenges.
Polecsak suggests that transitioning to post-quantum cryptography could require significant changes to blockchain protocols, consensus mechanisms, and user interfaces. These changes may disrupt existing workflows, require modifications to software and hardware infrastructure, and necessitate coordination among network participants.
Furthermore, Polecsak emphasizes the importance of ensuring backward compatibility and interoperability during the transition to post-quantum cryptography. This is crucial to prevent fragmentation of the blockchain ecosystem and maintain continuity for users and applications.
Polecsak’s assessment underscores the complexities and trade-offs involved in adopting post-quantum cryptography in existing blockchain networks. While the transition promises improved security against quantum threats, it requires careful planning, coordination, and investment to minimize disruption and ensure a smooth transition for users and stakeholders. As the field of post-quantum cryptography continues to evolve, blockchain projects will need to carefully evaluate their options and strategies for implementing these new cryptographic standards.
Source: news.bitcoin.com
The post Existing Blockchains Can’t Adopt Post-Quantum Cryptography Without Significant User Impact, Says Johann Polecsak appeared first on HIPTHER Alerts.
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