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Researchers In Abu Dhabi To Receive The Middle East’s First Quantum Computer

A quantum computer doesn’t rely on traditional bits. Instead, it encodes information using qubits, which can have the value of “0” and “1” at the same time.

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researchers in abu dhabi to receive the middle east's first quantum computer
IBM

If there’s one emerging technology capable of single-handedly ushering in a new era of information technology, it’s quantum computing. Soon, researchers working at the Technology Innovation Institute (TII) in Abu Dhabi will get their hands on the Middle East’s first quantum computer, allowing them to solve incredibly complex problems by harnessing the phenomena of quantum mechanics.

“This will put the UAE on the map to be a known entity for research on such a topic. And that’s a big achievement for the entire Arab world,” said Boulos Alfakes, a senior researcher at the TII. “There will be a dramatic difference between the countries that own the technology and the ones that depend on the technology, believes Professor Jose Ignacio Latorre, chief of research at the TII’s Quantum Research Center.

One of the biggest challenges associated with quantum computing is cooling. The small quantum microchip at the heart of the computer is designed to operate at very low temperatures (near absolute zero). If the microchip gets too hot, it becomes unstable, rendering the whole computer useless.

To address this issue, researchers ordered two dilution refrigerators from Finland. The refrigerators are complex and expensive, but less sophisticated cooling methods are not up to the task.

Also Read: Saudi Researchers Use Quantum Computing To Design More Efficient Airplanes

Just like all quantum computers, the one that will soon be in the hands of researchers at the TII doesn’t rely on traditional bits (combinations of zeros and ones). Instead, it encodes information using qubits (or quantum bits), which can have the value of “0” and “1” at the same time.

Thanks to this and other unusual properties, quantum computers can solve certain difficult problems much faster than traditional computers. For example, some cybersecurity experts fear that quantum computing could break traditional cryptography in the near future, potentially forcing millions of organizations around the world to implement quantum-resistant cryptographic algorithms.

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du Considers Adding Crypto & Investment Tools To New Service

The company plans to bridge gaps in one of the financial market’s most underserved demographics, according to its CEO.

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du considers adding crypto and investment tools to new service

The Emirates Integrated Telecommunications Company, better known as Dubai-based du, is contemplating incorporating cryptocurrency and investment tools into its recently launched financial technology platform, according to CEO Nicolas Levi.

According to Levi, the potential enhancements would enable improved portfolio management for investors. The new tools and features would be realized through future partnerships while continuing to adhere to strict UAE regulations.

“Cryptocurrencies are being used as an investment. Will we have an investment product one day potentially? I’m not saying no to that. Will we use crypto for our own transactions? There are some plans with the [UAE] central bank to work on that,” Levi said in a recent interview.

The UAE Central Bank does not currently recognize cryptocurrencies as legal tender. However, the regulator began implementing its own form of digital currency back in March 2023, known as Digital Dirham. Additionally, the UAE Central Bank’s endorsement of legitimate crypto enterprises for banking services underscores the Emirates’ commitment to addressing real-world financial needs.

Also Read: Lebanese Newspaper Builds AI President To Beat Political Crisis

du Pay, the company’s inaugural venture into the FinTech sector, had a soft launch earlier this month after UAE Central Bank authorization. Offering an array of financial services like domestic and international transfers, bill payments, recharges, and salary receipts through a unique IBAN, du Pay marks a significant strategic move by the telecom firm into the digital finance space.

The rising trend of mobile-based financial services in the UAE, including digital wallets and online payments, mirrors global trends. Statista projects the digital payments market to balloon to $16.7 trillion by 2028, at a CAGR exceeding 9.5% from 2024’s estimated $11.53 trillion.

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