SWIFT
From CryptoWiki
Revision as of 07:52, 4 December 2019 by wiki_crypto>Zeb.dyor
Basics
- Society for Worldwide Interbank Financial Telecommunication code. An internationally-recognized identification code for banks around the world. SWIFT codes are most commonly used for international wire transfers and are comprised of 8 or 11 alphanumeric characters.
- Ripple aims to disrupt Swift, the messaging system the worlds’ banks use to transfer an estimated $6 trillion a day, with RippleNet, with aims to be cheaper, faster and more transparent.
Other links
- Has had connections with Chainlink since 17-10-2017.
- LINK is a Smart Contract developed by a team with more than three years of experience building and securing oracles for Bitcoin and Ethereum networks via partnerships with SWIFT to utilize the SWIFT messaging system.
- But as this article (22-1-2018) states:
"The most touted line by ChainLink believers is its partnership with SWIFT, which is no small feat. Very few cryptocurrency projects have the ability to say they have a real partnership with one of the largest financial institutions in the world. Though it’s also likely that Sergey and his team are helping SWIFT develop their own smart contract solution, instead of using ChainLink. We don’t know."
