Quantum computers are still in an experimental phase, but in the future, they may have a profound impact on the financial system. By providing faster and potentially more efficient solutions, quantum computers have the potential to solve certain complex problems that are of paramount interest in the field of economics and finance. For example, quantum simulation algorithms can be leveraged in stress testing and macroeconomic analysis, and quantum optimisation can be used in asset pricing.
Meanwhile, the advent of quantum computers also introduces a potential threat to financial stability, especially through their ability to breach some of the most widely used cryptographic algorithms. Despite the nascent state of quantum computing development, the potential for sensitive data to be stored now with the intention to be decrypted later necessitates immediate preparation.
This paper explores the transformative potential of quantum mechanics and its applications to the financial system, including the potential benefits as well as the main risks. It also highlights current actions within the central bank community to address these potential risks, including Project Leap, started by the Bank for International Settlements Innovation Hub, the Banque de France and Deutsche Bundesbank.
PDF full text – BIS Papers No 149 – Quantum computing and the financial system: opportunities and risks
___________
Related information
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
