RBI appoints committee on quantum tech in finance

MUMBAI: As quantum computing moves from theory towards application, the RBI has set up an expert committee for a quantum-secure and adaptive financial ecosystem to assess how a technology that can solve complex financial problems could also threaten existing cryptographic standards.

Quantum technology is different from regular computing because it can handle multiple possibilities at the same time. It can address complex financial problems including portfolio optimisation, risk assessment and macroeconomic modelling. At the same time, it poses risks, particularly the potential to undermine certain existing cryptographic standards.

The committee will be convened by Anil Prabhakar, professor, department of electrical engineering, IIT Madras.

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