>After months of testing, Swift has published its first conclusions on its blockchain proof of concept (PoC), and presented a live demo of the technology to Sibos delegates. While results so far are “encouraging”, Swift is not yet entirely convinced it’s the best technology for the purpose.
>“I think we have to be realistic,” Damien Vanderveken, head of research and development at SwiftLab
>He went on to comment on the fact that Hyperledger Fabric v1 – the blockchain framework on which the PoC is based – is still in its infancy. “The Hyperledger Fabric v1 technology was released during the summer, so it’s two months old. It’s still going to take some time before it’s ready for production usage.”
>In fact, blockchain may not even be the best solution: Swift has not ruled out that real-time nostro visibility can be addressed using another kind of technology.
>“Is blockchain the right technology to solve that business problem? What we have shown so far is quite encouraging: we believe it is the right fit and could solve the problem. But could we do it in another way? Yes, we could solve the problem by using another technology, and that’s one of the things we will confirm by the end of the year – how we are going to move it forward,” said Vanderveken. “Only then will we confirm whether we will do it with blockchain or actually, for example, to minimise the integration effort for the industry, if it may be better to do it differently.”
Swift finds blockchain “has potential” but will not commit yet
Chainlink isn't blockchain retard
if swift is not even using blockchain technology what fucking hope does chainlink have
Ding ding
i swear Veeky Forums is full of the brightest and the dumbest
ohhhhhh, you poor poor deluded linkies....i'd cry if it weren't so fucking hilarious.
Chainlink uses blockchain technology no?
It doesn't
Interesting
With jews you lose i hope you all learned a valuable lesson for down the rode
Under 4k. Someone hodl me.
The article is about Hyperledger Fabric, and it literally says SWIFT might simply use another blockchain.
Reading, it's good for you.
Yes, that poltards are low iq and blame everyone else for their failures?
The article mainly talks about Hyperledger Fabric, the actual blockchain which is only two months old.
The rest speaks glowingly about blockchain tech, and it even says SWIFT might simply use another blockchain instead of Fabric.
Whichever blockchain they use, Chainlink remains the key to entering external data into it.
And then there's these little gems:
>Swift has concluded that it’s “crucial” that integration with legacy back-office applications and co-existence with existing processes are taken into account.
and
>“Swift needs to bring a solution which minimises investment costs and allows co-existence with existing infrastructure and solutions.”
This screams Chainlink (which is low threshold, plug&play).
SWIFT is feeling the heat from Ripple and IBM (with Lumens), they are adopting blockchain tech, there is no question about it.
The article even says this, but you brainlets can't read two sentences without dreaming off.
This is what i been saying, its a proof-of-concept, which is far away from an alpha, even further away from a beta, insanely far away from a working product and years away after that to integrate into banks.
Was always met with,
> hurr durr u canz make smart contract on their website
Wow...an ERC20 token can execute a smart contract...how revolutionary.
Fucking retards, its almost like linkies thought these "11,000 banks" would just be lining up with contracts in hand after some half-assed presentation.
Delusional, this is going sub 2k sats. Hypes over.
>No it doesn't:
Except it literally does.
>Even if Swift were to pick blockchain to address current inefficiencies, the choice of specific platform that it uses – Hyperledger Fabric – is not set in stone.
>“We selected Fabric as one of the blockchain technologies that we consider is suitable for the financial industry,” said Vanderveken at the demo.
>But he added that Fabric is “not the only one”, and that Swift has not bound itself to a final choice when it comes to platform type.
Go be braindead somewhere else.
The article is about a different PoC.
It's about their project specifically for nostro-vostro accounts.
Chainlink's PoC demo at SIBOS had NOHTING to do with this, it had to do with smart securities/bonds and ISO messaging.
I'm not fucking selling. Smart contracts being able to use external data is a huge deal. Banking is only one of the many applications for chainlink.
>In fact, blockchain may not even be the best solution: Swift has not ruled out that real-time nostro visibility can be addressed using another kind of technology.
>“Is blockchain the right technology to solve that business problem? What we have shown so far is quite encouraging: we believe it is the right fit and could solve the problem. But could we do it in another way? Yes, we could solve the problem by using another technology, and that’s one of the things we will confirm by the end of the year – how we are going to move it forward,” said Vanderveken. “Only then will we confirm whether we will do it with blockchain or actually, for example, to minimise the integration effort for the industry, if it may be better to do it differently.”
It clearly states that SWIFT is uncertain if Blockchain technology is the right solution. This creates uncertainty in the market which the crypto market absolutely hates.
I'M NOT
FUCKING
SELLING
>“Is blockchain the right technology to solve that business problem? What we have shown so far is quite encouraging: we believe it is the right fit and could solve the problem. But could we do it in another way? Yes, we could solve the problem by using another technology, and that’s one of the things we will confirm by the end of the year – how we are going to move it forward,” said Vanderveken. “Only then will we confirm whether we will do it with blockchain or actually, for example, to minimise the integration effort for the industry, if it may be better to do it differently.”
>Swift announced this week that its gpi service is growing at a rapid rate, surpassing 2 million payments in September. More than 120 banks, representing over 75% of all Swift payments, are now signed up to the service. 24 of these banks are currently live and actively using gpi, and Swift expects this number to grow to 40 by the end of the year.
>In fact, blockchain may not even be the best solution
>Is blockchain the right technology to solve that business problem?
This is about the nostro-vostro issue.
LINK's demo had nothing to do with this.
>It clearly states that SWIFT is uncertain if Blockchain technology is the right solution.
... to the nostro-vostro issue.
LINK's demo had nothing to do with this.
This is the nostr-vostro project they're talking about: coindesk.com
LINK was never involved in this.
See It's nice to actually know what you're talking about. You should try it.
I think you might be right actually. Cheers for this.
might as well cash out and thow the money out of your fucking window, at least it will go to your countrymen, you unbelievable cuck.
i've never seen so much delusion as LINK holders.
Also this.
Nigger