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Bitcoin => Press => Topic started by: Vladdirescu87 on April 20, 2017, 05:48:08 PM



Title: [2017-04-20] Can Blockchain and DLT Solutions Compete with SWIFT?
Post by: Vladdirescu87 on April 20, 2017, 05:48:08 PM
Banks are looking forward to implementing new technologies for changing and improving the existing payment systems.

Qatar Commercial Bank has completed their blockchain-based pilot for international money transfers. Ripplestrives to provide a new DLT solution ambitiously aimed at competing with the world-known system Swift. 

Fintech enthusiasts might look forward to the implementation of new solutions which could potentially change the whole payments industry, but there still are a lot of questions about the actual aspects of usage for such solutions.

You can read the full article here: https://coinidol.com/can-dlt-solutions-compete-with-swift/


Title: Re: [2017-04-20] Can Blockchain and DLT Solutions Compete with SWIFT?
Post by: Carlton Banks on April 20, 2017, 07:27:10 PM
Bitcoin has been outcompeting SWIFT since 2011 when Gox first opened, even with today's so-called "expensive" tx fees, Bitcoin is much much cheaper (and faster to clear) than SWIFT. And more flexible. And uncensorable. And un-confiscable.
 
tl;dr: SWIFT can never compete, headline fail