BBVA has successfully conducted a pilot test for distributed quantum simulation in the cloud – a groundbreaking initiative in the financial sector. This test, carried out across multiple conventional servers using AWS cloud services, represents a big advancement in utilizing quantum computing for complex financial tasks.
During the test, BBVA utilized a proprietary architecture developed in collaboration with the Quantum Computing team at digital transformation companies VASS and AWS. They used Qiskit software to distribute the execution of quantum algorithms across several classical compute servers, thereby enhancing their computing power to simulate 38 qubits. This scale of quantum simulation is challenging to achieve with a single classical computer and allows for solving more complex problems.
Current quantum computers are experimental and, while they might not seem to pose much of a threat today, they may do so in the near future. With that in mind, we must protect the confidentiality of our data and communications until that future arrives.
Escolástico Sánchez, leader of Quantum Discipline at BBVA Innovative Approaches to Security and Problem-Solving
BBVA is also a founding member of the Quantum Safe Financial Forum (QSFF), working alongside European and US financial firms to develop secure technologies against quantum computing threats. This forum, supported by Europol’s European Cybercrime Centre (EC3), fosters collaboration to build resilient financial systems.
The success of this pilot is not only a technical achievement but also a strategic one, showcasing BBVA’s capabilities in quantum computing. It demonstrates that classical computers can be effectively used to test quantum algorithms on a large scale in a controlled, noise-free environment. This advancement holds the promise of applying these technologies to real-world financial problems as quantum computing hardware continues to evolve.
