Causing A Ripple … The Cryptocurrency Competing Against SWIFT
Published in
7 min readAug 26, 2018
The current infrastructure for transferring payments across borders is the SWIFT (Society for Worldwide Interbank Financial Telecommunication) network. Often, though, the SWIFT infrastructure is slow and can involve transfers between several intermediate banks (each taking a transaction fee). The recent hacks of the SWIFT network [$81 million hack], too, has also shown that it is…