The Society for Worldwide Interbank Financial Telecommunication (SWIFT) has proposed an international payments system based on unified ledger technology and its resources.
The Society for Worldwide Interbank Financial Telecommunication has been watching the development of fintech carefully, with a focus on its own future. After a variety of projects using new technologies, the pillar of the current international payments system has thrown its weight behind a unified ledger payment model.
SWIFT looked in particular at tokenization and the shared ledger model, according to a post on its website. Common infrastructure could provide real-time balance to all of the participants in the shared ledger, it said. That’s not to say messaging is unneeded, SWIFT was quick to “Shared ledgers are not well suited to carrying and storing high volumes of data due to the way data is synchronised across parties and the computing power required. This is where a messaging layer fits in.”
“For transactions to be frictionless, additional types of data also need to be transferred to enable value-added services such as AML, compliance, sanctions screening, trade and accounts receivable reconciliation,” it continued.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Members of the Relief Society encouraged to bring others relief in worldwide devotionalIn a devotional watched in local congregations around the world before local testimony meetings, the Relief Society presidency and President Russell M. Nelson spoke to the women of the church. The event marks the 182nd anniversary of the founding of the Relief Society.
Read more »
Taylor Swift’s rep addresses assault accusations involving Swift’s dad, photog: 'Individuals were aggressively pushing'New South Wales police said they were investigating an 'alleged assault.'
Read more »
Taylor Swift's Concert Film 'The Eras Tour' to be Released on Disney+Taylor Swift's hit concert film Taylor Swift: The Eras Tour, directed by Sam Wrench and produced by Swift, will be released on Disney+. The movie chronicles Swift's highly successful 2023–2024 concert tour and earned over $260 million at the box office. It features a new name, Taylor Swift: The Eras Tour (Taylor's Version), and includes new songs not featured in the theatrical version.
Read more »
One in eight ski resorts worldwide could have no snow by 2100All major skiing regions worldwide are predicted to see a severe drop in snow days by the end of the century, with Australian resorts the worst affected
Read more »
Airbnb bans indoor security cameras in the platform’s listings worldwideAirbnb expects the policy update to impact a small number of hosts because the majority of its listings do not report having indoor security cameras.
Read more »
Airbnb is banning the use of indoor security cameras in the platform's listings worldwideAirbnb says it's banning the use of indoor security cameras. Under the new policy, hosts will still be allowed to use doorbell cameras and noise-decibel monitors.
Read more »