Researchers in Austria have broken the distance record for transmission of entangled protons. The best description of this process (that I've run into) was in this episode of Nova. Basically, the team demonstrated transporting protons a significant distance, without losing their entanglement. Entanglement is where 2 (or more) sub-atomic particles are bonded together such that, when you resolve the state of one, the other particle gets resolved. Such technology can be used to instantly transmit messages, that is, faster than light. The only catch is that you must have previously transported the entangled particles, which is what these researchers have demonstrated.
But what good is instantaneous transmission ? Light can already go around the Earth 7 times per second. We can stream hi-def movies, and hold live videoconferences, where the biggest delays are in the software. Sure, having a telephone call through a satellite is annoying but so what ?
According to this TED talk, automated stock traders on Wall Street pay a premium to be closer to the exchange because the delay from the transmission of light over a few blocks is literally a performance criteria. That is, the closer you are physically, the more of an edge you have over other stock traders, because your software can react faster. Faster trading means more profits and more customers.
But what if you can transmit information instantaneously ? Then it doesn't matter where you are. If we take the record-setting distance of 143km, you could set up an automated trader in Poughkeepsie, NY and *beat* the traders on Manhattan Island.
Perhaps we will see a real estate price dip in the financial district because of this.
