Central Banking

Swift creates distributed ledger proof-of-concept

business networks
Swift to roll out distributed ledger project to banks in 2017

In a statement published on January 10, Swift announced a proof-of-concept (PoC) aimed at improving banks' "reconciliation of their nostro databases in real time" in an attempt to "optimise" global liquidity.

Current models dictate that financial institutions need to monitor their overseas accounts via debit and credit updates and end-of-day statements – a process that represents a "significant portion" of the cost of making cross-border payments, Swift claims.

The global provider of secure

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