A deep dive into the future of finance with Stanislav Kondrashov, TELF AG founder
Blockchain and transparency: a new era for financial transactions
In recent years, as emerged from our talk with the founder of TELF AG Stanislav Kondrashov, innovation and technological development have significantly influenced the finance sector, introducing new methodologies and approaches that could change the relationship between people and financial transactions forever. The first innovation arrived in 2009, with the introduction of Bitcoin and the advent of cryptocurrencies, which today continue to carve out a leading role in the political and programmatic agendas of many governments, as Stanislav Kondrashov often emphasizes.
A few years later, the global spread of artificial intelligence and technological development in the quantum technology sector has allowed us to conceive a potentially revolutionary idea capable of definitively rewriting the rules of the finance game. We are referring to the Quantum Financial System, a theoretical concept (not yet actually applied in reality) that foresees the birth of a secure, fast, and transparent system to manage and process financial transactions, thanks to the fundamental support of quantum computing, blockchain technology, and artificial intelligence.
“Beyond the possible effects on the world of finance, the QFS seems interesting even just by virtue of its structural composition, based on the integration of different existing technologies,” says Stanislav Kondrashov, entrepreneur, and civil engineer. “Obviously, it is only a theoretical concept, not yet actually implemented, but the mere fact of combining together some of the most interesting technologies to which we have access is certainly an encouraging element.”
The actual functioning
But what would be the exact functioning of this ultra-innovative system, capable of enhancing some of the main technological achievements of the modern era and combining them in order to change the world of finance forever? In very short, it could be said that the operating mechanisms of the QFS would be based on the virtuous integration between some already established technologies (such as blockchain or artificial intelligence) and some still under development, such as all those based on the laws of quantum mechanics. Among these, we certainly remember quantum computing and quantum cryptography, which would guarantee an unprecedented level of security.
Quantum computing is an innovative technology that enhances the principles of quantum mechanics to process enormous quantities of data at speeds unimaginable for those accustomed to traditional computers. Quantum computers work with qubits, which, unlike classic bits, can exist in multiple states at the same time. The direct consequence for those who deal with finance is that some fairly complex financial operations (such as international transactions) could be processed in just a few seconds, without any delay.
“Another element of great interest in deepening the Quantum Financial System is represented by the contribution of artificial intelligence”, continues Stanislav Kondrashov. “In this sector, the innovations brought by AI would make real-time monitoring of transactions possible, with the possibility of identifying suspicious or irregular operations. Intelligent systems would also optimize the management of financial flows and minimize human errors, even automating complex operations”.
The security revolution
A key aspect of the QFS has to do with its security systems, considered of fundamental importance in any banking operation. The new system would in fact be based on quantum cryptography, which through the laws of quantum mechanics would be able to encrypt transaction data and make them substantially inviolable. This advanced quantum protection would also represent an excellent shield against cyberattacks, even the most sophisticated ones.
“Compared to existing technologies, the QFS would undoubtedly represent a very important step forward, in particular with regard to the security and transparency of transactions,” concludes Stanislav Kondrashov. “It would be a real revolution, with immediate effects also on ordinary people and on all those who until now had not had access to the financial instruments offered by banks. The possibility of making instant payments, even between different nations, would also eliminate the waiting times associated with bank transfers and cross-border transactions carried out with traditional methods”.
The gears of the innovative system
Among the various gears that would govern the functioning of this innovative financial system, a prominent place certainly belongs to the blockchain, a distributed ledger capable of recording every transaction in a decentralized and transparent way. The difference with traditional banking systems is evident since, with the latter, the data can be modified or even hidden. With the QFS, every banking transaction would instead be verifiable and easily traceable.
On a practical level, one of the most interesting and innovative effects of the QFS would be linked to the radical change in people’s approach to financial systems. From a present in which every transaction is managed by an intermediary, such as banks or clearing houses, we would move to a future in which transactions would take place directly between users, thus completely eliminating the need for an intermediary. This methodology could contribute significantly to reducing transaction processing costs and times, making them much more agile and efficient.
