SWIFT’s New Blockchain System to Complete WIth JPMorgan’s

Cryptocurrencies may not be faring well at this moment, but the blockchain scene is as strong as ever, with major banking organizations developing the technology for their own benefit. SWIFT just came out with something it’s piloting that it hopes would supplant current banking models, according to Verdict.

The organization’s aim at this moment is to address problems that come as a result of banking errors. When a customer wires money, there’s always a chance that the transfer will contain an erroneous destination account or other invalid data that makes it difficult or impossible to process the request.

This oftentimes leads to payments being refunded to the sender …

This article appeared first on Cryptovest

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