As part of the G7 work under the Italian Presidency, the Bank of Italy is organizing the workshop “Building the quantum safe financial system: what role for authorities and for the private sector?”.
By exploiting the principles of quantum mechanics, quantum computing will in the future make it possible to solve computational problems currently considered intractable. Artificial intelligence will particularly benefit, chemistry, quantum simulation, optimization methods, machine learning, and numerous other fields will be profoundly affected by the advancement of quantum computing. In finance, for example, there will be substantial advances in risk management and creditworthiness calculation models.
However, the encryption technologies currently in use for the authentication, transmission and secure storage of information could be compromised, seriously jeopardizing the stability of the financial and payment system. The workshop aims to promote cooperation between academia, the financial sector, supervisory and market authorities and technology companies to discuss the risks on cryptographic techniques associated with the development of quantum computing.
During the event, the main solutions currently available and their strategic and policy implications will be discussed in order to raise awareness among stakeholders of the need to plan an orderly migration towards a quantum safe world. The keynote speaker of the workshop will be Juan Ignacio Cirac Sasturain, Wolf Prize winner for physics in 2013.
