Swift's Cross-Border Blockchain Trial Is Moving Into Its Next Phase

SWIFT is one step closer to accepting and using Bitcoin. After  months of work, a group of developers of the online banking platform  managed to complete the concept of Proof of Concept, which was built  with Hyperligament Fabric. The project, which is designed to determine whether or not it can help  Swift to provide instant services (in real time) by transferring users'  bank accounts to a distributed office, is step by step.

According  to Damien Vanderveken, responsible for technology at Swift Distributed  General Office, several banks, including New Zealand Banking Group, BNP  Paribas, BNY Mellon, DBS Bank, Wells Fargo, and others have been granted  access to this platform for further testing and testing. Is.

In  the opinion of Swift, if this test is successful, it can release  billions of dollars that are lying in the banks at banks (which is also  available throughout the world and includes different currencies to be  used to make transactions if needed). Slow With the transfer of funds to a general (and common) general office,  this test seeks to ascertain whether deletion of this item is possible,  if available, these funds can be used in other work.

Banks are expected to finish their work by the end of the month, when  the results are validated by 22 other banks, including ABN Amro,  Deutsche Bank, JPMorgan Chase and others.

The position of doubt remains

This short story and the advancement of this test have implications  for Swift as well as the use of blockade in the banking industry.

Even  with extensive experiments and efforts at various stages of development  by Swift, the technology continues to look cautious. Vanderveken, for example, says in an ordinary fashion that such development does not create interest in the organization. "Bloccini  is a very pervasive one, and if Blaccini has innovation or creativity,  he says," I think it will be in the field of payments. " But can it do anything about instant payments? I do not think so. "

source : coindesk