It became clear that SWIFT (International Banking Communication Association) , a competitor of Ripple (Ripple), announced trial of electronic payment system using block chain technology.
In this newly announced system, it is necessary for banks to access each other’s data via API (application programming interface) , check the validity of the bank account and reduce the delay before making remittance You will be able to.
SWIFT survey seems that nearly 10% of payments on the platform have been postponed due to errors. Luc Meurant of SWIFT ‘s CMO (Chief Marketing Officer) said, “ Instead of fixing the delay in the second half of the chain, trying to predict as many problems as possible and handle payments more quickly “There is.
Through this trial, SWIFT aims to compete with JP Morgan’s block chain project and companies that start payment such as Revolut and TransferWise.
SWIFT was rumored to have a tie-up with Ripple (ripple), but in November of last month the two denied it, furthermore ripple CEO said “I will overtake SWIFT” and it became a hot topic .
Future SWIFT and Ripple (ripple) company’s attention will gather attention.
Ripple (Ripple) CEO “Overtake SWIFT”, denied alliance rumors
Article Source: electronic payments international
Author: Yush [Coin Desk News] – Source Post: https://crypto-times.jp/swift-blockchain-ripple/
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