Swift cross-site block-chain experiment into the next stage

nnnTrap: A test performed by Swift on the test of the block chain has now completed the proof of concept and will proceed to the next stage. Several well-known banks will further verify the results of the test. But it is worth noting that, although the research and development in the chain, but to a large extent on its function or skeptical. The block chain R u0026 D person in charge that this technology is limited, can not promote immediate payment.n
nnTranslated by: Inan
nSwift distance is a step closer to the block chain.n
nAfter months of effort, a group of developers at Swift has completed the proof of concept on the chain of superblogging fabric blocks. The purpose of the project is to test whether the transfer of bank accounts to distributed books can help Swift to be reconciled in real time and is now ready for the next phase.n
nAccording to Damien Vanderveken, head of the Swift distributed book technology research and development department, ANZ, BNP Paribas, New York Mellon, DBS, Royal Bank of Canada and Wells Fargo are now able to use the platform for further testing.n
nSwift believes that if these tests succeed, they will release billions of dollars of dormant funds in the bank’s accounts, which are distributed around the world and hold all kinds of currencies to prepare for contingencies. This test confirms whether the practice can be eliminated by transferring funds to a shared book to release the capital that can be used to invest in other businesses.n
nNext, these banks are expected to complete their work next month, when the test results will be verified by 22 other banks (including ABN AMRO, Deutsche Bank, JP Morgan and Standard Chartered Bank).n
nStill skepticaln
nThe test will continue to move forward, the Swift and block chain in the banking industry in a wider range of applications have a significant impact.n
nHowever, despite the Swift on the block chain for a variety of different degrees of development, but the organization still claims to question the role of the technology.n
nEspecially when it comes to real-time payments, Swift is using traditional payment channels to expand this service, and Ripple is prepared to use its distributed books to help existing financial institutions to achieve real-time payment.n
nIn response to this, Vanderveken’s response is consistent with Swift’s external attitude, which he believes does not necessarily cause the organization’s attention.n
nVanderveken concludes:n
nn”The block chain is clearly fried too hot about whether it can drive innovation, and I think it can only push for innovation in terms of payment, but does it push for immediate payment?n

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