We know that the all observables are unchanged if we make a global change of the
phase of the wavefunction,
.
We could call this global phase symmetry.
All relative phases (say for amplitudes to go through different slits in a diffraction
experiment) remain the same and no physical observable changes.
This is a symmetry in the theory which we already know about.
Let's postulate that there is a bigger symmetry and see what the consequences are.
This is just the standard gauge transformation of electromagnetism, but, we now see that local phase symmetry of the wavefunction requires gauge symmetry for the fields and indeed even requires the existence of the EM fields to cancel terms in the Schroedinger equation. Electromagnetism is called a gauge theory because the gauge symmetry actually defines the theory. It turns out that the weak and the strong interactions are also gauge theories and, in some sense, have the next simplest possible gauge symmetries after the one in Electromagnetism.
We will write our standard gauge transformation in the traditional way to conform
a bit better to the textbooks.
There are measurable quantum physics consequences of this symmetry.
We can derive
the quantization of magnetic flux by calculating the line integral of
in a field free region.
A good example of a B=0 region is a superconductor. Magnetic flux is excluded from the superconducting region. If we have a superconducting ring, we have a B=0 region surrounding some flux. We have shown then, that the flux going through a ring of superconductor is quantized.

The Aharanov Bohm Effect brings us back to the two slit diffraction experiment but adds magnetic fields.
