With all the blockchains and infrastructures debuting in the market, it could mean only a matter of time before archaic existing platforms will be replaced. One of the latter ones to find its end could be SWIFT.
The Society for Wordwide Interbank Financial Telecommunication or SWIFT is around and close the same for over 40 years. Created in Brussels, Belgium 1973.
It has done its part of allowing cross-border transactions to happen, but with no change of development. That is why a new, best be, blockchain solution is needed to be implemented.
One of the crypto-startups that aims the above-purpose is the firm Ripple with its blockchain tech advancements. To explain why SWIFT is best to be replaced and what issues it is presenting to get the job done swiftly, we will use a company owner as an example.
The owner has a company that imports items from countries like China or Australia, which then sells them around the world. This is his business for 25 years and has dealt with transactions in foreign currencies. Read more from ethereumworldnews.com…
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