The forum "Quantum Communications in the Financial Sector", the first industry discussion event on the practical implementation of new technology in business, was held in the Meeting Room of the Academic Council of the Financial University under the Government of the Russian Federation. The event was organized by JSC Russian Railways, the Ministry of Digital Development, Communications and Mass Media of the Russian Federation, and the Financial University under the Government of the Russian Federation.
The forum was attended by more than 200 representatives of financial companies, banks, relevant ministries, telecom operators, integrators, and equipment manufacturers. The participants discussed the specifics of the technology and the possibilities of its implementation for information protection of the banking business infrastructure, the experience of using quantum communication services by Russian companies, the prospects for scaling market products in the financial industry, and international experience in the development of quantum technologies.
Opening the forum, Alexander Shoitov, Deputy Minister of Digital Development, Communications and Mass Media of the Russian Federation, noted that quantum communications technologies are among the key and promising ones – they are developing rapidly and potentially should have a significant effect on the economy and national security.
"Quantum communications are at a fairly high level of maturity, a backbone quantum network has already been created, which is being built as part of the national Data Economy project, and in accordance with the roadmap, it is planned to develop it together with Russian Railways by 2030. An important task now is to scale the technology and implement it in various sectors of the economy. For example, the process has already begun in the financial industry, and we are seeing some progress," added Alexander Shoitov.
During the discussion, experts confirmed that the requirements for data storage and transmission protection in the banking and financial sectors are constantly increasing, and both current and future threats must be taken into account.
The development and implementation of quantum communications will ensure the long-term protection of information systems. The created industry-specific technical solutions are already on the market, are being successfully piloted and used to organize highly secure corporate networks.
"Russian Railways is already a consumer of solutions based on the backbone quantum network. We are systematically transferring the company's information channels and services to protection using quantum communications technology, as well as implementing new projects, for example, to protect control channels for unmanned locomotives. In addition, we cooperate with a number of telecom operators and integrators to expand the product line and provide services to end customers, and conduct pilot projects with a number of large financial sector organizations. Their successful implementation will create the prerequisites for scaling the technology, as well as develop industry recommendations for banks and financial organizations. Indeed, in modern realities, the introduction of quantum communications is an essential element of the technological development and sovereignty of the country," said Valery Tanaev, Deputy General Director and Chief Engineer of Russian Railways.
Summing up the results of the forum, Grigory Ostapenko, Vice-rector for Digitalization of the Financial University, noted that the discussion made it possible to document the transition of quantum technologies from the research agenda to the formation of practice-oriented solutions and service models for their application in digital and financial infrastructure.
"Today we see that quantum technologies are moving beyond the stage of exclusively scientific development and are gradually moving into practical use. This means that the next step is not only the development of the technological base, but also the formation of sustainable service models that are understandable and applicable to business, the financial sector and the digital economy as a whole," emphasized Grigory Ostapenko.
During his speech, he also noted that as part of the research, equipment is being tested, parameters are being analyzed, and models for the development of networks with quantum key distribution are being formed. "About 5% of financial organizations are working on or have already implemented the integration of their distributed data centers using quantum key distribution technology. In fact, further service development begins with this," said Grigory Ostapenko.
Please note that this press release is based on materials provided by the company. AK&M Information Agency shall not be held liable for its contents, nor for the legal and other consequences of its publication.
