Sergey Nazarov , CEO of Chainlink, is talking with SWIFT again.
What is Swift?
SWIFT is the way the world moves value. We do this every single instant of every single day, right across the world. No other organisation can address the scale, precision, pace and trust that this demands. Continued… Need to transfer money overseas? Today, it is easy to walk into a bank and transfer money anywhere around the globe, but how does this happen? Behind most international money and security transfers is the Society for Worldwide Interbank Financial Telecommunications (SWIFT) system. SWIFT is a vast messaging network used by banks and other financial institutions to quickly, accurately, and securely send and receive information, such as money transfer instructions. More than 11,000 SWIFT member institutions sent over 35 million transactions per day through the network in 2020. The organization recorded an average of 42.5 million messages per day on a year-to-date (YTD) basis in March 2021. Traffic grew by 9.8% compared to the same period of the previous year.
Swift is the way banks communicate to each other. Sending billions of dollars around the world every day; trillions per year.
You can find the video of Sergeys chat with Swift here….
Scroll down to “Shaping the Future of Securities”
So…what is Sergey doing talking with Swift?
It is possible that Swift is looking to bring their technology forward into a more autonomous and transparent state. Using Chainlink they could implement smart contracts and take millions of back office expenses off of their balance sheet. It does seem unlikely that a corporation of this caliber would adopt Chainlink but keep in mind from what I can tell Sergey is the only person on these “Smarter Securities” panel that has any relation to a cryptocurrency project.
Furthermore, their recent marketing hints at efforts to bring the SWIFT platform forward into a “smarter” world.
It is entirely speculation if SWIFT will adopt Chainlink but there certainly seems to be some discussions going on behind the scenes.
I know the prices are coming down quickly but keep in mind there are real fundamental developments going on. This may not pan out but even just having a seat at the table puts Chainlink in a special spot. Best case scenario? It does pan out and SWIFT adopts Chainlink to some degree. The price would react dramatically of course, but lets not get ahead of ourselves.