The report, which was the result of research and development between SWIFT and Accenture, includes new details on SWIFT’s proofs-of-concept focused on the technology. These include how it working on transaction settlement and identity management concepts that incorporate blockchain elements.
Notably, the paper outlines SWIFTs intention to create distributed ledger technology platform focused on financial applications, that it suggested it will build in collaboration with industry peers.
Further, the paper argues that applications among financial institutions hinge on development in the areas of governance, data control, compliance, standards, identity, security, scalability and overall reliability.
To date, some of SWIFT’s most visible work on blockchain applications comes as part of the Hyperledger project, the open-source initiative led by the Linux Foundation.
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