If you do traditional banking, then you may be aware of #SWIFT, the Society for Worldwide Interbank #FinancialTelecommunication, which is a vast messaging network used by #banks and other #FinancialInstitutions across the world to send and receive information, (quickly, accurately, & securely) such as #MoneyTransfer instructions.
In the recent past, the centralized SWIFT system has been used to shut down banks in #NorthKorea, and has been used as a threat, to shut down banks in #Russia.
In today’s video, we review the #Russian banking system announcement, that they have a “#SWIFTalternative” ready to go.
And separately, we also have SWIFT Completing new #BlockchainTrials to advance their network position with the emerging #FinancialTechnology.
So, let’s review: What is SWIFT and #Blockchain? What is happening in Russia? And Let’s discuss!
=== Show Links ===
► http://www.coindesk.com/swift-completes-blockchain-smart-contracts-trial/
► https://en.wikipedia.org/wiki/Society_for_Worldwide_Interbank_Financial_Telecommunication
► http://www.reuters.com/article/us-northkorea-banks-swift-idUSKBN16F0NI
► https://www.rt.com/business/382017-russia-swift-central-bank/
► http://www.investopedia.com/articles/personal-finance/050515/how-swift-system-works.asp
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