November 2021
I knew it was a scam this whole time
>Following a large scale industry consultation, the SWIFT Board has recommended a migration of #payments traffic to #ISO20022 starting in November 2021.
That’s almost 5 years like the larger said. That’s really huge.
Nice!!! 3 more years to accumulate at under 40 cents! $1 EOY2021!!!!
Don’t be stupid. The moment when it’s all detailed is the moment you won’t be buying at 40 cents. Do you think all of a sudden banks are going to be like . Yes swift net turned on. Right now it’s a closed group. Once we get to stage 2 . Moon if using chainlink.
swift.com
Read this
>twitter.com
what does this actually mean are they gona use a cryptocurrecny or?
Yeah OP i'm gonna wait until LINK hits $10 then I'll start buying.
chainlink isnt working with swift. chainlink paid 2.5k p/y to join their partners program. its a fake partnership just like all the chink cryptos do.
Yes because it's going to reach $10 EOM lmao. It's too early to be in link, the price will drop more.
Your fud is shit tier, no one believes that crap.
Does this kill any chance Xrapid has?
LINK has million other use cases
But with this we know a date for SWIFT migration and know when to expect a nice huge pump for LINK
By then it will of course be like $50 and the pump might bring it to $200 or $300
Bump to counter FUD.
same
>swift.com
Thanks for the PDF. :3
That is a fucking excellent resource, user. s3.2.2 on compliance gets me right in the links. There is so much in that document that will be enhanced with smart contracts and DLT.
>swift.com
Read. It's basic structured data, nothing to do with Blockchain / On Chain / SideChain / Ledger messages.
>The most common format for ISO 20022 is XML, but other message formats are possible (see Annexe 2). ISO 20022 is also designed to adapt to new technologies as they emerge, and can be applied to APIs and other technologies to ensure end-to-end consistency of business processes.
Just for more kids that can't read, ISO 20022 is already in use. It's NOT BLOCKCHAIN.
>The platform used to transmit ISO 20022 messages is already used by a significant part of the community and is at par with the platform already in use for MT messaging6. In 2017, ISO 20022 messages made up approximately 20% of nine billion messages sent and received by 25% of the SWIFT community users.
Build a new blockchain from scratch for compliance.
>7.2 Annex 2: About ISO 20022
There are two key aspects to ISO 20022. It is a methodology, a ‘recipe’ to be followed to create financial messaging standards, and a body of content - the message definitions themselves and other content required by the methodology to define the meaning of message data.
Do you notice how they don’t mention the specifics of how the network works?????? It’s a fucking concept you baboon. It’s like Mercedes explaining how they achieve 703hp inside their engine. They’ll tell you how fast their car is, not what fucking tweak they did to achieve it. These PDFs are for bankers not for IT people. Fuck off with your FUD
>Baboon
Heh !
>nothing to do with / Ledger messages.
>Ledger messages
>messages
>used to transmit ISO 20022 messages
>messages
get rekt retard
No it's really not, since it's an XML standard. Essentially a csv file, very basic data structure. The standard is written so you can download a days transactions at the branch to a csv file and upload it to swift, or have a constantly updating XML feed, or even (gasp) a Json API. None of this is iterating out anything to do with
at all blockchain.
It's actually very clearly documented, like they said 20% of SWIFT tx's are already on ISO 20022. By the lack of effect on any crypto currency trading volume, you can deduce from this simple fact this just a new data format in XML to SWIFT's existing messaging system.
>None of this is iterating out anything to do with
>at all blockchain.
wat
Actually it doesn’t reference ANY detail on HOW they’re doing it. It could or could not use Blockchain. If it was a “simple data structure upgrade” it wouldn’t take years to integrate. It’s an overhaul not a fucking excel document .
>loading counter fud
paymenteye.com
Banks move much slower than a startup. That's why they are still running COBOL. It's a data structure update. Expecting SWIFT to transition to Blockchain while they still have COBOL systems running the ATM's in the next 7 years is dumb. I'll repeat it for the third time, 20% of the SWIFT tx's use the new format, and you are not witnessing any great addition of new volume depth,.
It's not even FUD, it's just suboxone to XRP hopium.
Chainlink aims to be compliant with the ISO20022 messaging standard so that it can be useful for banking messages which use the standard. In spite of the fact that it's 'just' a format, it takes years to implement because there are thousands of backend systems handling trillions of dollars worth of financial messages that need to be switched to the new standard without mistakes. That process is expensive and time consuming, and you are too pinbrained to imagine why that is.
Transmit ISO20022 on an HTTPS connection and call it CRYPTO
>SWIFT will use an ERC shitcoin with 2 lazy developers who can't finish the product nobody cares about.
I hope you guys aren't this deluded
Sounds legit to me, where do I deposit funds to participate in the ICO??
why do you guys still try and argue with these discord retards? everyone here is so obsessed with having some super fucking definitive stance on everything. no wonder no one likes you fucking fat incels.
You rude bitch. Is that why every shirt this morning was xxl?
Would you say that a transition to ISO20022 AND API integration makes XRP irrelevant?
>huurrff hurr discord
I mean, SWIFT is part of the Dollar Industrial Complex. So 5 eyes / EU can spy on any international tx on earth, and freeze an account, person or bank, for purposes of sanctions or counter-terror. This is a lot of centralized power to give up. I don't think XRP's vision of offering sweeties to this machine and hoping that they will voluntarily decentralize will work.
The crypto revolution happens two ways. 1) Voluntary adoption by more citizens, who start pricing their lives in SATs and leave behind the dollar. 2) Dollar / Fiat collapse and a collective recognition that BTC (insert any other crypto) has a higher value.
But expecting the Fiat system to just decide to give up power is frankly crazy.
wise words user
Fiat will always be king.
I actually don't believe that. $22T in debt, the US may be on the verge of a Soviet style collapse. I'm stacking in prediction of option 2.