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15708114 No.15708114 [Reply] [Original] [archived.moe]

First lets observe some fundamental truths

SWIFT started a proof of concept on January 30 in collaboration with r3, to bring gpi payments to DLT and blockchain based platforms
source: https://www.swift.com/news-events/news/swift-to-bring-benefits-of-gpi-to-dlt-and-trade-ecosystems

"To support the growing demand amongst trade ecosystems for secure and reliable settlement, SWIFT has launched a proof of concept (PoC) to trial a new gateway to interlink trade and e-commerce platforms with gpi – the new standard in cross-border payments."
GPI is currently used by hundreds of banks across the globe, and it settles over 300 billion dollars in payments every single day

The goal of this POC was to bring gpi payments to dlt, this is what they call gpi Link

“With the gpi Link, banks will be able to provide rapid, transparent settlement services to e-commerce and trading platforms, opening up whole new ecosystems to the speed, security, ubiquity and transparency of gpi and enabling them to grow and prosper in the new digital economy.

“Given the adoption of the Corda platform by trade ecosystems, it was a natural choice to run this proof of concept with R3.”

"While the PoC initially addresses R3’s DLT-based trade environment, it will be extended to support other DLT, non-DLT and e-commerce trade platforms."

Now what the fuck even is gpi Link? What are the details of its implementation?
SWIFT has intentionally kept the details of gpi Link under wraps, but with some digging we can uncover the secret.

There is a very educational webinar between SWIFT and r3 that requires email registration to gain access (anyone can register, feel free to do so)
Here is the link to the webinar: https://info.r3.com/corda-settler-webinar

Skip to 13:40: "The SWIFT gpi box is actually manifested as an oracle service on a Corda DLT network, they would have access to the gpi Link"

>> No.15708117
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15708117

>>15708114
So now we know officially and undoubtably that SWIFT gpi Link is an oracle service and its DLT/blockchain agnostic since they plan on being available to all sorts of platforms, lets try to find out who could be providing this service.

Navigating to https://www.smartcontract.com/ we see the image in pic related.

"We're proud to be working with SWIFT on their own SWIFT Smart Oracle. Allowing smart contracts on various networks to make payments, send governance instructions, and release collateral with over 11,000 banks."

Okay, so we know gpi Link is an oracle service and SmartContract.com is currently working with Swift on a so called "Smart Oracle"

The only question that remains is, how do we know the Proof of Concept was successful?

Well, it was very successful, confirmed by SWIFT themselves: https://www.coindesk.com/swift-gives-blockchain-platforms-access-to-instant-gpi-payments-following-r3-trial

From June 25, 2019: "Global interbank messaging giant SWIFT has revealed it will allow blockchain firms to make use of its Global Payments Innovation (GPI) platform for near real-time payments."

So there we have it, GPI Link is an oracle service that was piloted with the Corda DLT platform and will be rolling out for wider use in the near future, but when do we find out?

Here's a direct Quote from SWIFTs program manager Wim Raymaekers: "We will demonstrate the conclusions of the proof of concept at SIBOS in London in September of this year" (source: https://www.swift.com/news-events/news/swift-to-bring-benefits-of-gpi-to-dlt-and-trade-ecosystems)

Also note how familiar the logo for the "oracle service" looks in this R3 demo: https://info.r3.com/corda-settler

>> No.15708130

>>15708114
>>15708117
Overhyping tranny

>> No.15708143

>>15708114
Stop hyping this shit. Nothing is going to happen. The team weren’t even invited ffs

>> No.15708169

>>15708130
but OP is right.

>> No.15708210

>>15708114
>>15708117
Great conjecture. I think we're past this point. If they were using it they wouldn't need to be coy. Like Oracle. They had the LINK logo and everything. KYS tranny.

>> No.15708214

What session tomorrow will be the one that may or may not mention Chainlink?

>> No.15708221

>>15708169
Fuck off.

>> No.15708226

>>15708114
XRP is going to be the standard.

>> No.15708231

Team isn’t there, OP is full of shit. This will dump hard tomorrow

>> No.15708241

>>15708231
Manvinder Madness Manifests Mumbai Meltdown.

>> No.15708247

>>15708214

SWIFT gpi link: Linking SWIFT gpi with trade platforms – The results

https://www.sibos.com/conference/sessions

>> No.15708253
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15708253

>>15708241
PANIC at the DISCORD

>> No.15708256

>>15708241
Dilate

>> No.15708260
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15708260

>>15708247
Protip the results have nothing to do with stinkies

>> No.15708267

>>15708241
i can smell your poo

>> No.15708271
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15708271

when the tranny shills for link give up this place is going to be fucking boring

>> No.15708282

>>15708247
thanks, anon

>> No.15708291

>>15708114
Why do you lie?
Are your bags getting heavy?
Corda is a plug and play, not exclusively to LINK or XRP
https://www.finextra.com/blogposting/17188/blockchain-corda-settler-ripple-and-swift-a-mariage-a-trois

>> No.15708315
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15708315

>>15708291
>After they make the payment, an oracle service will ensure the validity of the payment and settle the obligation.
>“Settlement Oracle” will broadcast the actual settlement notification. It can be operated through different entities like exchanges, banks, and others.
Gee I wonder who could be the oracle. I'm sure they'll let some randos with a centralized oracle trigger their million dollar contracts.

>> No.15708326

>>15708315
Unless the Roth’s show their blood.

>> No.15708331
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15708331

>>15708315

>> No.15708348

>>15708315
Not LINK
There was one FUD that was always true, the most ridiculed of them all, shadow LINK. What might be announced is the partnership between smartcontract.com and SWIFT, this isn't bullish for Chainlink, quite the opposite. It will dump to 30 cents and never recover, together with the rest of the crypto market. The dream is over, exit all markets

>> No.15708358

>>15708260
Dumb nigger

>> No.15708360
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15708360

>>15708348
Holy shit I did not think of that. It's unironically all over. Just market sold all my LINK. Thanks for the help buddy, I would've lost everything!

>> No.15708369
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15708369

>>15708358
going down!

>> No.15708374

You can explain it hundreds of times to the brainlets and they still refuse to listen. The retarded linkies still claiming that gpi is related to link don't even understand their own investment, they're hopeless. Yet they'll still act smug in their replies. Unironically mongoloid tier.

>> No.15708393
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15708393

>>15708374
explain it to me again senpai

>> No.15708425

>>15708374
who are you responding to?

>> No.15708447
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15708447

>>15708425
He's criticizing everyone and no one.

>> No.15708449

>>15708393
gpi is for instant settlements
the poc was for smart contracts focused on bonds
completely different use cases, the whole point of gpi is that it takes one second to do cross border payments whereas the purpose of link is to add connectivity and security to complex smart contracts on decentralized networks
do you understand speed isn't the focus of chainlink at all? how decentralization adds more security but slows things down?
corda is centralized

>> No.15708465

>>15708449
No one can refute this. Lmao these fuckers are so stupid

>> No.15708478

>>15708449
Thanks for the suicide fuel, anon.

>> No.15708492

>>15708449
>but slows things down?
depends what happens on/off chain

>> No.15708494

>>15708449

you had two years

>> No.15708509

>>15708494
Pls just give him a well thought out response.

>> No.15708513

>>15708494
I'm all in on LINK and he's right.

>> No.15708516

>>15708509

two fucking years

>> No.15708520

>>15708449
This anon is correct, I have no doubt SWIFT will eventually utilize the Chainlink network but GPI Link has nothing to do with smartcontracts, it is a completely different usecase.

>> No.15708524

>>15708449
also furthermore, the whole swift connection is that chainlink will eventually connect the swift API to one oracle or adapter
when sergey talks about inputs and outputs for smart contracts, that's what the outputs are, means of payments, it means transfering your eth or btc or whatever to an exchange and then transfering it on an exchange after x happened and then sending the fiat payment to your bank account or whatever
it's for defi and gambling and insurance and other crypto scams etc, not for banks doing cross border payments, jesus fucking christ
that's what the paypal adapter is already for
it's a connection to the swift api to create a payment output for smart contracts
the swift api is public, any other oracle competitor will also be able to implement it, it's not exclusive to chainlink, do you understand this? the swift api is not exclusive to chainlink
similarily all the retards getting excited about psd2 don't understand open data means any competitor will also have the same access to the data

>> No.15708525

>>15708449
Speed isn't the focus of Link, but there's nothing preventing you from choosing to use one single oracle on the Chainlink network for speed over security. Stuff like threshold signatures is a way to maintain speed and security in a world where lots of oracles exist. At the beginning of the network's life (we are here) one would expect a few trusted oracles to be the focal point of most of the network's transactions, the Pareto principle in effect.

>> No.15708529

>>15708516
That’s how you win discussions?lmao

cope

>> No.15708558

>>15708449
>On average, 40% of SWIFT gpi payments are credited to end beneficiaries within 5 minutes. 50% are credited within 30 minutes; 75% within 6 hours; and almost 100% within 24 hours.
not all payments are credited in seconds

>the poc was for smart contracts focused on bonds
cordapps are smart contracts on corda, a smart bond could exist there whose settlement happens off chain via gpi but is recorded on chain (corda ledger)

>whereas the purpose of link is to add connectivity and security to complex smart contracts on decentralized networks
yea for example cordapps
>corda is centralized
it's a distributed ledger, yes it is less decentralized than fking bitcoin or ethereum but by definition there is a measure of decentralization too it: independent node operators participate in consensus of the network state to publish new blocks and to prevent double spending, not that this point even matters, it's still a smart contract platform that needs external data via a secure oracle

>do you understand speed isn't the focus of chainlink at all?
PoW is slow because each of the thousands of nodes strewn across the earth have to respond to the publishing of a new block and update their chain state, chainlink doesn't work like this

>how decentralization adds more security but slows things down?
depends on consensus mechanism

>> No.15708801

>>15708558
That doesn’t change the fact that smart contract.com poc with swift was for bonds. Not gpi

I see the slide threads are getting made now so going to keep it bumped

>> No.15708823

>>15708801
gpi is a fast borderless payments technology offered by swift, i dont see why coupon or principal repayment wouldn't be made using gpi

>> No.15708851

>>15708801
Bumpp

>> No.15708860

Third party fintechs will be able to connect to swift banks via gpi link/psd2 or something

>> No.15708896

>>15708860
>>15708524

>> No.15708952
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15708952

>>15708114
BAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH

AHHHH OH NO NO NO NO

THEY'RE CORRELATING A FUCKING VIDEO GAME WITH THEIR FINANCIAL FUTURES AND BARGAINED WITH THE TEAM TO "BUY IN EARLY"

THINKING THAT A PAJEET POTTERY SHIT FLINGING FORUM WOULD MAKE THEM RICH. NOT REALIZING THAT THEIR MEME POTENTIAL WAS WASTED ON A KNOWN FAILURE, FRAUD AND SOON-TO-BE EXTRADITED RUSSIAN SCAMMER.

>>THE PRICE
TRUST ME, INSIDER. SOURCE, TRUST ME

>>THE MEMES
ANYTHING, LITERALLY ANYTHING AT ALL

>>THE BULL
YOU AND YOUR NEET MONEY. JUST THROW INTO THE FUCKING TRASH

>>THE COPE
WHAT THEY USED TO MAKE FUN OF US WITH. YOU LITERALLY FELL FOR A PAID FUCKING SCAM WITH A NON-AMERICAN RUSSIAN NATIONAL OPERATING IN THE US, WITH A FUCKING DREAM PERPETUAL MOTION MACHINE BULLSHIT TOKEN

>>BAHAHAHAHAHA

>> No.15708956

>>15708114
Imagine writing all that wall of text when gpi link isn't even about chainlink lmao

>> No.15708972

Why's everybody so excited about tomorrow? We're all going to make it, this might just at best be a small little bump in the price.

>> No.15708980

>>15708449
but has anyone really been far even as decided to use even go want to do look more like?

>> No.15709102

>>15708114
was a PoC using public Swift APIs. No special relationship. And literally nothing since. It's been 3 years, desperate linkers need to stop clutching to this fake partnership, it's pathetic.

>> No.15709106
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15709106

>Based in the cayman islands
>Gives same presentation past 3yrs
>Nothing is intellectually patented
>>nothing burgers starting with sibos 2017
>JSON Parser
>Countless "insiders"
>Confirmed security by law group
>Manipulated price action (You are here)
>Rest of the year = same presentation
>SEC launches investigation
>Sergey Disappears
>Dev wallet dumps all tokens
>Team freaking out
>Confirmed edit scam all over the news

Master, please binance me again

>> No.15709123

>>15708449

Swift GPI is using an oracle to connect to the R3 platform. No one knows what oracle they're using though.

>> No.15709192

>>15709106
So ChainLink is a meme?

>> No.15709195

Bumping the highest quality discussion thread we've had about link in months.

>> No.15709251
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15709251

>>15708114
>The goal of this POC was to bring gpi payments to dlt, this is what they call gpi Link
Still doesnt make sense to me why they would call it link if for no other reason than it being ChainLink.

>> No.15709337

Trannies cant slide this thread.

>> No.15709344
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15709344

>>15709192
>>15709195

"Some faggots on a mongolian horse fishing competitive forum are tired of chainlink. Clearly they are bag holders and not just tired of the constant paid promotion that I was caught doing with literal indians to get this thing up. And it's not like I saw airdrops took off on 4chan and quietly plotted to create my own with my coworkers and came up with the first idea that popped into my head... I am a genius... arghhhhh"

"Another 700k master! Thank you, I will await September $10, October $10, November $10 and on and on. September$10 is right, 42 is right, every other namefag is right, I just have to keep waiting, just keep waiting, just keep waiting, just keep waiting, just keep waiting, just keep waiting, just keep waiting, just keep waiting..."

"Yeah and the fucking SEC is on my ass but they can kiss my ass"

"no master I will kiss your ass and make dumb founded accusations at all the partnerships that are possible because you came up with some vague notion of data inter-weaving with smart contracts despite the fact that real time blockchain data aggregation is either impossible, will leave room for error or a reputation based system will endorse corruption thus rendering the entire idea of decentralized oracles entirely moot."

"No you idiot! No company will ever conceive their own oracle for their real-time needs, they're going to use our massively inflated shittoken linked to a bloated ethereum blockchain protocol to try and float open public transactional volume that will allow for data corruption or worse yet, middlemen attacks because I said so. You're the dumbass NEET and your money belongs to me... meee..meee!!! arghhhh!"

"Another 700k Master!" By now, the dumps are covering your chest and slipping onto the cellophane beneath your back. The gassy farts have made you delirious with joy. "Name me one other token that has it's marketing done for it by NEETs"

"Arghhhhh! Another 700k!"

>> No.15709353
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15709353

>>15708114
>>15708117
Thanks OP.

Fudders eternally btfo

>> No.15709360

>>15709344
tl;dr

>> No.15709362
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15709362

>>15709337
>if I call him a tranny, it will hide from the fact that im coordinating with a dozen other people to vigorously defend the scam ive invested my entirety into even though we're insistent that it doesnt matter whether or not it's shilled on /biz/
Yeah, I've already answered your questions sufficiently. You know damn well that your kind hijacks everything and tries to make it about your scam and your cult. You just don't like that you're incapable of manipulating the answers I've given you towards your favor so you'll keep denying them and doubling down on your brand of sad, desperate childish namecalling to try and come out on top.

>> No.15709366
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15709366

>>15708348
>What might be announced is the partnership between smartcontract.com and SWIFT, this isn't bullish for Chainlink, quite the opposite.

>> No.15709372
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15709372

>>15709360
>>15709353


It's all fake. It's the google cloud thing all over again, it's just one developer who probably bought some LINK bags acting like the whole fucking enterprise is going to make use of LINK. There is literally nothing to indicate that SWIFT is going to integrate LINK into their system. It's just one random company presenting some shiny new technology that'll eventually go nowhere. Big fat nothingburger and now the LINK shills are out in full force acting like they all made it, because they are trying to pump their bags off of the hype.
Once the dust settles it'll be glaringly obvious. It's all fake. In fact, if you google chainlink you'll see it's just a scam. Please reddit don't get duped into this. Don't buy this, DYOR, google it and you'll see what I'm talking about. Remember the google cloud thing, it's fake. Just check its price after the pump-and-dump from that news and you'll know what I'm talking about

>> No.15709419

>>15709362
Im on your side fucktard

>> No.15709428
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15709428

Let's make this ultra clear. SIBOS and swift have had and will never have anything to do with link. They are transactional data payment layers running on ancient code known as Cobolt. This transaction data layer consists of balances and balances payable, debt to senders and is a simple decentralized blockchain if you will, in that it acts as a database between large intermediary big banks. you don't own the balance sheet, the big bank does. the purpose of blockchain is to decentralize this control to create separate nodes to prevent corruption and bail-ins with the option to hard-fork and much more importantly, prevent quantitive easing through printing by restricting monetary control and particularly inflation (tl;dr: printing of money).

NOWHERE! ABSOLUTELY NOWHERE DOES CHAINLINK HAVE ANYTHING TO DO WITH DISTRIBUTED BALANCE SHEETS AND TRANSACTIONAL PROTOCOLS.

It is only and only a supposed and if-that, data aggregation for real-time input into blockchains, supposedly ethereum shitcoins. It acts as a half ass API, it is not the google maps, but rather the input google maps would recieve from people having visited a restaurant and rated it. what you faggots are doing here is plain and simple deception. this is why the chainlink team is not invited again, because they managed to squeeze one little meeting next to some toliets and claimed partnership and the people at SWIFT were so god damn offended, they absolutely refused to even touch this two-bit pajeet filled russian national jew backed kiked up scam company. Chainlink will never, work as intermediary between banks, if anything ripple might and i say might. chainlink's best hope is for it's practical day to day dev use for inputting random inputs into a blockchain, weather, prices, news, etc, etc which also it has failed anything closely to achieve. suck my ass nigger.

>> No.15709575
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15709575

>>15708214
https://www.sibos.com/conference/sessions/2019/swift-gpi-link-linking-swift-gpi-with-trade-platforms-%E2%80%93-the-results-2188

>> No.15709766
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15709766

>>15708801
>swift is using link for bond payments
>that means they can't use link for gpi

>> No.15709927

>>15708449
>>15708524
no one can refute this lol

>> No.15710343

>>15709428
Awww. Looks like someone thinks they're an engineer. You should STFU because you don't understand shit.

Chainlink can act as an escrow and custody layer. Swift seems redundant at first, but then you realize Chainlink can process transactions based on Swift protocols and hit the Swift API to validate. Sort of like a sidechain or childchain for Swift.

This isn't for speed. This will always be slower. But the escrow mechanics DO allow for certain entities that deal in tokens to circumvent very specific security token SEC custody rules.

Now, if you have a platform that can circumvent some dealbreaker SEC regulations around security tokens + integration with payment processors like Swift (people are focusing on this alone way too much), and an active network with smart contract functionality, then what you get is liquidity.

As more entities with ATS licenses and brokerages that can do best execution order books integrate with the platform, you will start to see more variety in token and token type conversions. Eventually, it will be the place to covert any token or fiat you have to something else for payment. As liquidity grows, micro-conversions become possible and even faster.

It will probably start with stable coins though. Since the volatility of tokens in general might be too much for payment processors to stomach. And using levers to adjust a static price for use of the service is a janky solution that will probably fuck the internal economy.

The integrations and business logic isn't hard here. In fact the actual code isn't hard. Success is really about:

- establishing liquidity by getting payment processors, brokerages, and entities with ATS licenses to buy-in on the platform

- "controlling" the economy

>> No.15710475

>>15709366
That's actually neutral news. And and no one gives a shit either way.

>> No.15710485

>>15708558
This

Now kys fudders

>> No.15710700

>>15708114
link is gonna be close to $40-60 on halloween.
fucking "psychic" jew fed larpers come up to me in real life.. they act like theyre fucking psychics or mediums and they literally start spelling out H A DOUBLE L OH DOUBLE YOU DOUBLE E SPELLS LINK FOR HALLOWEEN!

then they fucking run off.

fucking feds..

>> No.15710715

>>15708558
>PoW is slow because each of the thousands of nodes strewn across the earth have to respond to the publishing of a new block and update their chain state, chainlink doesn't work like this
this is why middleware is superior to oracles that use their own chain

>> No.15711214

>>15709428
>SIBOS and swift have had and will never have anything to do with link.
Swift themselves have literally said they are working with Link. I stopped reading there because the rest of your post is obviously false.

>>
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