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Author Topic: [2017-04-20] Can Blockchain and DLT Solutions Compete with SWIFT?  (Read 239 times)
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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:
"With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless." -- Satoshi
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Carlton Banks
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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

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