ECONOMICS OF OPTICS

Artistic director: Hrvoje Hirsl 

Quantum entanglement is a physical phenomenon that occurs when pairs or groups of particles are generated or interact in ways such that the quantum state of each particle cannot be described independently of the others, even when the particles are separated by a large distance—instead, a quantum state must be described for the system as a whole.

Today’s economy is based on information. The quicker you are in collecting processing and transferring the data, the more successful you are in making profit. All of these information are at some point transferred in the form of light over huge distances in matter of milliseconds, streamed over the light cables. With the soon emergence of real quantum optical computers, information will be processed literary in the speed of light, photons will be used for processing and transferring the data.

Based on some studies, about 84% of all trades are automated and done by super computer and custom-made algorithms called High-Frequency Trading (HFT). In HFT, the data is processed on super computers, with the use of complex algorithms. The information on the economical markets may or may not have a direct connection to material goods but in any case, the end outcome will influence our material reality. Data processing and complex interactions materialize themselves on the periphery of the economical chain and cause changes in labor market and cityscape. The information can fluctuate and change without any boundaries but our physical reality can’t. The consequences of some of these changes are catastrophic and will be even more in near future.

Concept

The limit in the transfer of information is the speed of light, a barrier that is set by physical laws (nature). No information can travel faster than the speed of light, least according our present knowledge. Neoliberal market rest on never-ending growth and acceleration.
What will happen when we reach this barrier, how should we move further in speed?
The Lightcoin system is made out of three parts: Quantum entanglement device, Lightcoin crypto currency and Website platform;

1. Quantum entanglement is a physical phenomenon when two or more particles are entangled by a force that makes the interaction between them instantaneous, no matter the distance. Quantum entanglement at the present moment can’t be used to transfer information but can generate true random numbers for checking the transaction validity of the Lightcoin currency.

2. Lightcoin cryptocurrency is directly referring to these systems and its limits, namely the speed of light, in transferring and processing of the information. Lightcoin is a symbolical representation of these invisible structures of the economical market.

3. Website platform is a third level of interaction, it will support all texts and lectures related to the work, including the structural information and live monitoring of Lightcoin currency market fluctuations.

Production

The complexity of the project requires collaboration between number of disciplines and highly skilled professionals, namely, the scientists from the Department of Physics and developers from Floating Point company in Zagreb. The Quantum entanglement device will be done by the Department of Physics, University of Zagreb (cold.ifs.hr). The Lightcoin crypto currency along with the Website platform will be realized by the Floating Point Ltd (floatingpoint.io).
This project is a great opportunity for an interdisciplinary collaboration that will be mutually beneficial for each side as cross platform interaction for sharing and expanding ideas.

My last four works: algoresearch.systems, Nodes, butttton.com and clickmassage.com are dealing with the physicality of the digital and the position of labour in the distributed network. The basic goal of these series of works is interpreting the influence of technological force on our perception and daily life. The subjects of time, space and labour are basic elements of human existence. Questioning and deconstructing those paradigms is crucial in deciphering our path as a society.