During a CNBC interview, Trump criticized the inefficiencies in the U.S. financial and regulatory landscape. Meanwhile, Elon Musk criticized outdated government technology, and suggested blockchain integration as a solution to inefficiencies and fraud. On the tech front, Google recently announced a major quantum computing breakthrough with the Willow chip, while Microsoft unveiled a sustainable, water-saving cooling system for data centers.
Blockchain the Future of Finance?
Eric Trump, the second son of Donald Trump and an American businessman, recently shared his strong support for the transformative potential of cryptocurrency and blockchain technology. In an interview with CNBC’s Dan Murphy on Dec. 9 in Abu Dhabi, Trump pointed out some of the inefficiencies of modern banking systems and how blockchain can revolutionize the financial sector. He also criticized the lengthy processes for routine transactions like getting a home loan, and argued that blockchain technology offers a much faster, cheaper, and more efficient alternative to traditional methods, eliminating the need for excessive paperwork.
Eric Trump during his CNBC interview
Trump also mentioned his father’s awareness of the global embrace of crypto and blockchain technology, and warned that if the United States fails to lead in areas like regulation, it risks falling behind other nations. He is still optimistic about the growing pro-crypto sentiment in Congress, and believes that the influx of crypto-friendly lawmakers could pave the way for transparent and sensible regulations. This, he believes, will not only benefit the industry but also position the U.S. as a global leader in the crypto space.
Both Eric Trump and his brother, Donald Trump Jr., are involved in the decentralized finance platform World Liberty Financial, though they do not hold official roles in the organization. On a broader scale, Eric Trump applauded Elon Musk’s role in the upcoming administration, where Musk is set to co-lead the Department of Government Efficiency (DOGE) alongside Vivek Ramaswamy. Trump is confident in Musk’s ability to drive innovation and reduce governmental interference in business.
Trump concluded his interview by encouraging the government to support, rather than stifle, innovation. He also shared that blockchain technology represents a pivotal shift for the U.S.
Elon Musk Critiques Outdated U.S. Government Tech
Elon Musk also recently shared his thoughts about the U.S. government’s outdated way of doing things. Musk specifically took aim at the outdated state of the U.S. government’s technological infrastructure.
In a series of posts on X, Musk shared some of the inefficiencies and shortcomings of federal computer systems, and also questioned their inability to reliably verify payments or prevent fraud, waste, and abuse. He attributed these issues to obsolete equipment and software, which he described as a natural consequence of an entrenched bureaucracy lacking accountability.
Musk claims that the government is overpaying for ineffective software and that agencies like the Internal Revenue Service (IRS) are operating with technology far older than most people imagined. Responding to a user’s humorous post showing outdated 1990s-era computers, Musk suggested the actual situation was even worse. His thoughts are very similar to the broader criticisms that suggest the U.S. neglected the maintenance and modernization of certain critical infrastructure.
While his statements were sharply critical, Musk did not assign any political blame, and suggested instead that the issues stem from systemic inefficiencies rather than deliberate mismanagement.
The incoming Trump administration’s strong emphasis on crypto and blockchain technology could align with Musk’s vision for modernization. Blockchain’s inherent ability to function as an immutable ledger offers a very compelling use case for government operations. By integrating blockchain technology at the federal level, it will become feasible to maintain a permanent, transparent record of all government transactions. An innovation like this could facilitate comprehensive audits and provide better transparency in the allocation and use of tax dollars.
Google Pushing Boundaries With Willow Chip
Although the U.S. government’s technological infrastructure is very outdated, companies are still hard at work to create revolutionary new technologies. Google’s Quantum AI team unveiled a major breakthrough in quantum computing with its new chip, Willow, which can solve certain computational problems in under five minutes. This task would take the world’s best supercomputers approximately 10 septillion years.
Quantum AI lead Hartmut Neven compared the results to the concept of quantum computation occurring across multiple parallel universes, as theorized by physicist David Deutsch.
One of Willow’s most impressive advancements lies in error correction. The chip demonstrates an exponential reduction in error rates as more qubits are added, which is a milestone that experts have pursued for almost three decades. By cutting the error rate in half, the team achieved a breakthrough referred to as “below threshold,” a critical step toward making large-scale quantum computing more reliable. Qubits, which are the fundamental units of quantum information, are key to this progress. However, increasing their number often raises the risk of errors, posing a challenge for scaling the technology to practical applications.
Google CEO Sundar Pichai believes Willow is a big step toward building a “useful quantum computer” with potential applications in fields like drug discovery, fusion energy, and battery design. While Willow is only the second milestone in Google’s six-step quantum computing roadmap, the accomplishment still proves that major advancements are being made in the field.
The development of Willow also reignited discussions about its implications for cryptographic systems. Quantum computing has long been considered a potential threat to encryption, including the cryptographic protections that are used in cryptocurrencies. However, experts like former Google product manager Kevin Rose pointed out that Willow, with its 105 qubits, is far from the scale actually needed to compromise Bitcoin’s encryption, which would require close to 13 million qubits for rapid decryption.
Despite this reassurance, industry leaders still think it is important to prepare for a post-quantum future. David Marcus, the CEO of Lightspark, believes it is very urgent to advance post-quantum cryptography to address potential risks. Ethereum co-founder Vitalik Buterin already proposed ways to mitigate these threats, and suggested a hard fork and updated wallet software as solutions to protect Ethereum’s blockchain against quantum vulnerabilities.
Microsoft Pilots Sustainable Cooling for Future Data Centers
Microsoft also recently introduced a groundbreaking data center design that eliminates the need for water to cool its servers and chips. This design could potentially save over 125 million liters of water annually per facility.
The design was announced on Dec. 9, and it employs a closed-loop cooling system that recycles water between servers and chillers. This makes precise temperature control possible without evaporation. While water will still be used for essential onsite functions like kitchens and restrooms, the system is set to greatly reduce water consumption in the company’s data centers.
The environmental impact of data centers has come under increasing scrutiny because they provide the computing power for artificial intelligence, cryptocurrency mining, and other online services. Research shed some light on the large amounts of resources consumed by these operations. Some reports even suggest that OpenAI’s ChatGPT uses around half a liter of water to generate 100 words, and a single Bitcoin transaction requires enough water to fill an average household pool for cooling mining rigs.
Microsoft stated that its existing data centers will continue using air and water-based cooling systems, but the new design will be piloted in upcoming facilities in Arizona and Wisconsin by 2026. The company also began implementing the zero-water evaporation system for new data centers in August, and these facilities are expected to go online starting in late 2027.
The announcement coincides with Microsoft’s robust growth in AI-related services, particularly in its Azure business, which saw a 33% year-on-year increase in revenue for the quarter ending Sept. 30.
This article was originally Posted on Coinpaper.com
