Thus, the network handling the majority of modern international interbank messages is determined not to be left behind in the wake of the revolution that is unfolding in the finance world with the adoption of blockchain or Distributed Ledger Technology (DLT).
Finance Magnates reported on their website that a SWIFT representative said during an event in Berlin: “SWIFT has been targeted in the press as a legacy incumbent that will be doomed by DLT. But we believe SWIFT can leverage its unique set of capabilities to deliver a distinctive DLT platform offer for the community.”
At the beginning of 2016 SWIFT and Accenture released a paper investigating how blockchain technology could be used in financial services. As a technology assessment, SWIFT and Accenture identified gaps between existing DLT solutions and industry requirements, the site continues.
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