Ernie, the premium bond number generator, takes a quantum leap on Friday as the fifth incarnation of the machine is launched, running at speeds 21,000 times faster than the original 1956 model developed by Bletchley Park codebreakers. Ernie 5 – the name stands for Electronic Random Number Indicator Equipment – will for the first time use quantum technology to produce random numbers through light, replacing the previous “thermal noise” method. It will sift through the 79bn premium bonds in existence to produce 3m winners in just 12 minutes each month. The new Ernie’s quantum chip can process the numbers 45 times faster, yet is only the size of a pea. Today, the value of premium bonds issued has soared to £79.6bn.

Source: The Guardian March 01, 2019 00:00 UTC