SWIFT planning launch of new central bank digital currency platform in 12-24 months

[Arkan]

How come mainstream media is not reporting on this?

LONDON, March 25 (Reuters) - Global bank
messaging network SWIFT is planning a new
platform in the next one to two years to connect the wave of central bank digital currencies non development to the existing finance system it has told Reuters.

The move, which would be one of the most
significant yet for the nascent CBDC ecosystem given SWIFT's key role in global banking, is likely to be fine-tuned to when the first major ones are launched.

Around 90% of the world's central banks are
now exploring digital versions of their
currencies. Most don't want to be left behind by bitcoin and other cryptocurrencies, but are
grappling with technological complexities

SWIFT's head of innovation, Nick Kerigan, said it's latest trial, which took 6 months and
involved a 38-member group of central banks, commercial banks and settlement platforms, had been one of the largest global
collaborations on CBDCs and "tokenised"
assets to date.

Loading…

www.reuters.com

SWIFT to connect multiple CBDCs in one platform by 2026

SWIFT aims to launch a new platform in the next two years to connect central bank digital currencies to the existing finance system in a bid to boost the CBDC ecosystem

crypto.news

 

[Arkan]

 

[Idilinaa]

If they do. They will 100% replace crypto currencies because unlike it their digital money will hold real world value backed by assets and have more legal safe guards up to protect/insure people's money

Crypto is basically a non-productive asset, there is nothing backing it and lacks regulation

With the many failures and controversies around crypto, people have begun to lose their trust in it. So it's perfect time and opportunity for the banks to move in and offer more viable replacements.

 

[Arkan]

If they do. They will 100% replace but crypto currencies because they will hold real world value backed by assets and have more legal safe guards up to protect/insure people's money

Crypto is basically a non-productive asset, there is nothing backing it and lacks regulation

With the many failures and controversies around crypto, people have begun to lose their trust in it. So it's perfect time and opportunity to move in and offer more viable replacements.

As far as I'm concerned, it's programmable money.

The shtick is that they will be backed by Fiat current reserves. The same Fiat currencies that are not backed by physical assets like gold or silver, but by the trust and confidence of the government that issues them. Essentially, it's value is not directly tied to any physical asset

For example, the US CBDC will be backed and controlled by the Federal Reserve. It's ironic, the same FR, which prints endless cash that's backed by merely nothing but brute force is backing and controlling the US CBDC?

Crypto is basically a non-productive asset, there is nothing backing it and lacks regulation

This is what they hate and want to capitalise on. Crypto will have paved the way for CBDCs.

 

[Gaandheri]

It’s all part of Agenda 2030 depopulation, disease x, digital currency, one world governance.

 

[Idilinaa]

As far as I'm concerned, it's programmable money.

The shtick is that they will be backed by Fiat current reserves. The same Fiat currencies that are not backed by physical assets like gold or silver, but by the trust and confidence of the government that issues them. Essentially, it's value is not directly tied to any physical asset

For example, the US CBDC will be backed and controlled by the Federal Reserve. It's ironic, the same FR, which prints endless cash that's backed by merely nothing but brute force is backing and controlling the US CBDC?


This is what they hate and want to capitalise on. Crypto will have paved the way for CBDCs.

Also might i add when you are dealing with proper currency like fiat which is government issued money you are also dealing with legal tender . This is the component that makes money money.

Crypto advocates always quick to note that fiat money is not backed by physical commodities such as gold. Make the mistake of believing that means fiat is not backed by anything at all. That's false

The US dollar acts a reserve currency and currencies around the world are pegged to the US Dollar. Rather than direct ties to gold like in the past , the US dollar is backed by faith in the US economy and the other nations using the US dollar as their reserve currency stabilize their own currency through their connections to the US dollar and therefore the US economy.

It's honestly laughable when crypto users tries to say that the US dollar is a Fiat currency not backed by anything when making their case. It's not the case at all. The GDP of the US backs every US dollar in circulation. But nothing backs most of the crypto currencies.

When you are buying a bitcoin or dogecoin you are not buying legal insured backed tender by a national government. You are just buying a digital token for someone else who is taken your real money. To get your real money back you have to sell it someone else. Most places don't take crypto as a payment and for good reason.

 

[Burqad]

If they do. They will 100% replace crypto currencies because unlike it their digital money will hold real world value backed by assets and have more legal safe guards up to protect/insure people's money

Crypto is basically a non-productive asset, there is nothing backing it and lacks regulation

With the many failures and controversies around crypto, people have begun to lose their trust in it. So it's perfect time and opportunity for the banks to move in and offer more viable replacements.

Crypto has no use cases besides crime

 

[Idilinaa]

Crypto has no use cases besides crime

No you don't see the vision. Pump and dump is how you beat the money monopoly by the banks.