In 2019, Google used its quantum computer, the Sycamore machine, to prove that quantum computers can solve a problem in mere minutes. Experts working on the quantum computer found that their system could execute a calculation in 200 seconds, whereas a standard computer would take 10,000 years to complete. What on earth is this powerful tool?
The recent FTX scandal has all the trappings of a Netflix drama series where the business tycoon—once lauded for his power moves—is brought down by greed, selfishness and the judiciary system (The Wolf of Wall Street, much?). The CEO of crypto exchange FTX, Sam Bankman-Fried, has come into the spotlight for bringing about the downfall of FTX and his other company Alameda Research. In November 2022, he filed for bankruptcy for both companies after a devastating collapse in the public eye.
n November 11 this year, the world’s second-largest cryptocurrency exchange FTX filed for bankruptcy protection. This was a result of CEO Sam Bankman-Fried’s decision to save other crypto firms, such as Alameda Research. It led to major losses for the exchange.
Over the past couple of years, cryptocurrencies have become a mainstay in financial discussions. As of this year, there are 15,174 businesses worldwide that accept Bitcoin as a means of payment. This rise in the popularity of crypto has encouraged governments to open up to crypto, with El Salvador declaring Bitcoin as a legal tender and Ukraine legalizing cryptocurrency in 2021.
With a market capitalization of US$380 billion, Bitcoin has established itself as the most prominent cryptocurrency today. While Bitcoin continues to dominate the crypto market, its price crashing from an all-time high of over US$68,000 in November 2021 to US$19,775 a year later has left people pulling their hair, with some even attempting suicide.
On June 22, the non-profit standards organization the Khronos Group announced the formation of a collaborative body called the Metaverse Standard Forum (MSF). Many major metaverse players, like Meta, Microsoft, Epic Games, Adobe and Nvidia, have come together to join the Khronos Group as founding members of the MSF.
The global cryptocurrency market has been struggling with hacks for almost its entire existence. One of the most recent attacks to have shaken up the crypto market is a hack on the Binance ecosystem. On October 7, the world’s biggest cryptocurrency exchange, Binance, reported that its blockchain (BNB Smart Chain) had been attacked.
Despite the recent slump in the cryptocurrency market, the space is replete with job opportunities. Jobs in this sector grew by 395% in the U.S. between 2020 and 2021.Experts say that most forward-thinking tech companies have been making moves to incorporate blockchain technology into their businesses. Naturally, to do so, they must hire people who are well-versed in crypto and blockchain.
Just when you thought everything under the sun had a twin in the metaverse, the U.S. military decided to make a metaverse of their own. On May 10, two fighter pilots in the U.S. used virtual reality (VR) headsets to simulate refueling an aircraft flying alongside them in the sky. Besides hanging out with friends or attending a fashion show, many are using the metaverse to simulate tasks that are too difficult, dangerous or expensive to experiment on in real life.
This year, watchmakers pulled out all stops to ensure that connoisseurs were impressed, as watch events, like the Geneva Watch Days and Watches & Wonders, sprung back to life. From materials like platinum ruling the roost to tourbillons and skeleton watches stealing the thunder, we round up some of the top luxury watches of 2022 so far for different kinds of wearers.
Knowledge is power; when it comes to cryptocurrency, the more you know, the better financial decisions you will make. There is a lot to learn within the cryptocurrency space, such as how the different layers of blockchain technology work and which blockchain has the fastest transaction speed. Another important thing you need to know regarding blockchain transactions is the differences between off-chain and on-chain transactions—and which one can save you more money!
If you are a frequent reader of our website, you must have seen us mention The Sandbox, Decentraland and Axie Infinity. These are some of the most popular metaverses out there, and the one thing they all have in common is that they all have their origins in Asia. While Asia is home to all these metaverse projects, it suffers two main issues: the region has major rural-urban inequality as well as a significant wage difference between high-skilled and low-skilled occupations.
As of 2021, US$6.6 billion has been spent on blockchain solutions. The technology not only underpins the global cryptocurrency market but also provides unique utility for other sectors, like healthcare, logistics and real estate. A blockchain is a decentralized digital ledger made up of blocks that record data across a peer-to-peer (P2P) network. Once information is stored on this ledger, it becomes near impossible to delete, alter and hack.
It seems like just about anyone is creating some kind of cryptocurrency these days. In April this year, news broke that Meta founder Mark Zuckerberg was planning on creating his own centralized-social token (dubbed “Zuck Bucks” by Meta’s employees) to reduce the company’s dependence on advertisers. This currency would operate like tokens inside a video game, meaning that you could use them to buy items on Meta’s platform.
Last year, a physical Elon Musk-signed Tesla Model X toy car was minted as a non-fungible token (NFT) and put up for auction on OpenSea. The auction didn’t turn out to be very successful (probably because it wasn’t an official release made by Tesla), but this caused some car fans to wonder: will NFTs get into the automotive market someday?