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/biz/ - Business & Finance

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3713647 No.3713647 [Reply] [Original]

https://www.swift.com/our-solutions/global-financial-messaging/payments-cash-management/swift-gpi/the-technological-transformation-of-cross-border-payments

As part of the technology evaluation in the SWIFT gpi roadmap, SWIFT launched a Proof of Concept (PoC) in 2017, to test distributed ledger technology (DLT) and determine if this new technology can be applied to reconcile banks’ nostro accounts more efficiently and in real time, lowering costs and operational risk. While DLTs are currently not mature enough for broad use on cross-border payments, this technology may provide solutions for the associated account reconciliation.

'''SWIFT will leverage its key assets''' to bring the technology in line with the financial industry’s requirements

>> No.3713669
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3713669

We have absolutely no reason to think that it isn't referring to link it looks extremely likely right now
things like this are the reason why LINK is all that people talk about on this board right now, all the signs are there for this to be a interstellar fucking moon mission over the next two weeks

>> No.3713682

>>3713669

But what's the difference between link and SWIFT's Hyperledger?

>> No.3713771

If I was to take a guess it would be Eris with the added functionality of ChainLink external triggers. Or I am just talking shit, who knows.

>> No.3713803
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3713803

1/

>> No.3713814
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3713814

2/
Are these related? Fuck, like trying to put together a puzzle without the final picture.

>> No.3713835

Eris is a services company that targets banks to deploy private blockchains. They employ Ethereum and have forked it but also seem to include some other technology and wrappers that provide additional tools for private companies to leverage blockchains. You can see a lot of Eris' git-hub projects are related to ethereum.

https://ethereum.stackexchange.com/questions/1012/what-is-the-difference-between-ethereum-and-eris

>> No.3713846

>>3713835
So do you think this is the DLT they will be using with ChainLink? And how do we get in on Eris?

>> No.3713855

>>3713803
>>3713814
>>3713835

SO the Smart Contracts must be utilizing chainlink right? Chainlink already has a working proof of concept, and Swift invited them to demo it in combination with Swift messaging.

>> No.3713863

>>3713855
I would guess so, but fuck knows

>> No.3713879

>>3713855
Here's the rest of the article if you want to read further.
https://www.finextra.com/newsarticle/29813/sofe-berlin-swift-unveils-blockchain-proof-of-concept

>> No.3713900

>>3713682
Hyperledger is a blockchain developed by major industry players.
LINK is designed to work on Hyperledger (as well as Bitcoin and ETH, etc.).

LINK isn't a blockchain, it's a decentralized node network that provides the input of external data so smart contracts can be executed/recorded regarding non-crypto transactions.

>> No.3713905

bullish...fundamentals don't change. im stocking up

>> No.3713932

not bullish enough going to buy FAPcoin instead

>> No.3713937
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3713937

>>3713879
NOOOOOOOOOOO ALL MY LINK IS GONE!!!!!!
AAAAAAAAAAAAAAAA

>> No.3713947

>>3713937
Lol yeah righto mate

>> No.3713992

>>3713803
Notice that this "internal PoC" demo deals with bonds and coupon payments.

These two elements just happen to be the exact things Chainlink is demoing, as seen here: >>3713814

The article talks about "smart contracts written in solidity", which Chainlink/Smartcontract also supports, see: https://create.smartcontract.com/#/contracts/4e5f3876a3a315e9fd66a2ecb54ac6f9

This "finextra" article about the internal PoC was from late 2016, and Chainlink was already heavily involved with SWIFT at that time, as they were part of SWIFT's "industry challenge" throughout 2016.
Also know that Chainlink/Smartcontract was explicitly mentioned in WEF documentation in 2015 already.

This all heavily implies Chainlink/Smartcontract functionality is being embedded into SWIFT's project.
Especially when you know that the Chainlink project has been going on longer than ETH.

Here SWIFT also explicitly states that the financial industry will be automated by way of two pillars:
1) Distributed Ledger Technology (i.e. Hyperledger)
2) "Smart Contracts"

So you know this is something they are very serious about.
And from what we know, a plug&play add-on network developed by a company that owns the domain "smartcontract.com" is the closest to providing the smart contract solution for them.

>> No.3714001

>>3713992
>Here SWIFT also explicitly states that the financial industry will be automated by way of two pillars
And by "here" I mean here: https://www.swift.com/node/39911
(this is a PDF download of an official SWIFT doc. If you don't trust my link, google "Information paper Distributed Ledgers, Smart Contracts, Business Standards and ISO 20022")

>> No.3714019

>>3714001
It's all starting to come together! Fuck I need more monies!

>> No.3714026
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3714026

>>3714001

AHHHHHHHH ALL MY LINK STOLEN MODS MODS

>> No.3714043

I fucking sold half my Links during the dump for fucking eBoost. Fuck everything.

>> No.3714055

>>3714026
Don't be a hater, Link's cheap right now mate. Pick some up already and join us in Lamboland

>> No.3714061

>>3714043
thanks for taking the bullet friendo?

>> No.3714081

>>3713992
Great analysis,
I would buy 100k if I could

>> No.3714095

brought the dip!

>> No.3714106

If you sold at the top, good timing, if you're selling right now, you're a moron. This project has had barely any exposure outside of /biz/ yet. Look up chainlink on youtube for example, some people have been posting videos about it (cryptocrush for example), but the combined views of those are minuscule.

>> No.3714131

>>3714106
Honestly I hope it stays low until SIBOS.
That would keep retards from "selling the news" even though there is no news to sell at SIBOS, only exposure to buy.

>> No.3714158

>>3714131
>That would keep retards from "selling the news

that's inevitable anyway...

>> No.3714223

Yep sold near the top... wont go lower than it is now... bought all i could anyone else is lucky if they get now. no-one knows just how massive this is. look at reddit it hasn't even been realised by the community there. when people start hearing about it after the conference this shit is going up

>> No.3714237

Look what happened to walton when reddit got hold of it... ive been watching linked in on reddit and its been growing by a few hundred members or so a day. it was only 600 2 days ago

>> No.3714513

https://www.youtube.com/watch?v=WRv-Oy6rUDo

>> No.3714556

>>3713937
this is the best meme

>> No.3714571

>>3714513
big if true