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 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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