Blockchain to replace SWIFT? In order to completely circumvent the American dominated SWIFT money transfer system, Russia just announced it will create its own blockchain based system.
The new Russian system will be used for international trade settlement for imports and exports. China, India, Southeast Asia, Africa, and Latin America are expected to embrace the new system.
US and EU sanctions on Russia have apparently spurred Russia to create the world's first blockchain money transfer system for banks.
submitted by /u/Extremely-Bad-Idea
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