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Singapore Eyes Gold Vault Expansion to Compete as Global Bullion Hub

Singapore is exploring plans to expand its gold storage capacity as it seeks to position itself as a  major global bullion trading hub , targeting central bank reserves and institutional flows. Strategic Push Into Bullion Market Authorities are evaluating potential sites — including areas near  Changi Airport  — to enhance  vaulting infrastructure for gold storage , according to sources familiar with the discussions. The  Monetary Authority of Singapore  confirmed it is  considering the use of existing facilities for gold vaulting , though it stopped short of confirming expansion plans. The move aligns with Singapore’s broader ambition to strengthen its role in  precious metals trading and financial services . Targeting Central Banks and Institutional Demand A key objective is to attract  central banks , which collectively hold around  39,000 tonnes of gold , accounting for roughly  18% of global supply , according to the World Gold...

Amazon Unveils First Quantum Computing Chip, Ocelot, to Tackle Error Correction Challenges

Amazon Joins the Quantum Computing Race

  • Amazon Web Services (AWS) has introduced its first-ever quantum computing chip, Ocelot, marking a significant step in quantum error correction.
  • The chip aims to cut quantum computing error-reduction costs by up to 90%, according to the tech giant.

Race for Quantum Dominance Heats Up

  • Amazon’s announcement follows Microsoft's recent claim of a quantum breakthrough and Google's unveiling of its Willow quantum chip in December.
  • The competition among tech giants underscores the push to solve one of quantum computing's biggest hurdles—error correction.

How Ocelot Works

  • Ocelot is a prototype, not a full-scale quantum system, designed to test error correction techniques.
  • Quantum computers use qubits, which are highly sensitive to environmental noise, causing computational errors.
  • Amazon's approach to quantum error correction will be key to scaling quantum systems for real-world applications.

Potential and Skepticism

  • Experts remain cautious, noting that quantum computing is still years—if not a decade—away from commercial viability.
  • Heather West, an analyst at IDC, says Amazon’s Ocelot chip is an advancement, not a breakthrough, as similar approaches exist.
  • AWS continues to invest in quantum infrastructure, including its cloud-based Amazon Braket service and an advisory program to prepare businesses for the technology.

Quantum Future: What’s Next?

  • Amazon is expected to refine Ocelot over the next few years, with further updates anticipated as the company advances its quantum research.
  • CEO Andy Jassy’s push into quantum computing aligns with AWS’s long-term goal of making cloud-based quantum solutions accessible to enterprises.

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