| | OCTOBER 26th, 2016
“The street finds its own uses for things.”
- William Gibson
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Swift is defending its turf.
The bank-owned cooperative is the ultimate middleman, processing billions of cross-border payments a year. The advent of the blockchain is calling this role into question.
But rather than dig in and fight off the newcomers, Swift’s approach is itself innovative. Not only is it working to get ahead of the technology curve with a new blockchain-like payments initiative. It also is trying to learn from the startup culture by hosting hackathons and running incubators.
If it succeeds, it will have blurred the distinction between disruptor and disrupted, making it a participant in rather than a victim of the ongoing reshaping of the world of finance. And given its experience and reach, it could become a significant player in the implementation and spread of financial innovation. Watch this space. (Read the full story.)
More stories:
· The Monetary Authority of Singapore is working on blockchain with the governments of South Korea and an Indian coastal state. Talk about high-level deals.
· Civic demos a new type of blockchain-based identity service. Who are you?
· Overstock shares to start trading via blockchain in December. Read more.
· IBM and Sumitomo are working on blockchain applications for finance, real estate and asset custody. More projects.
· ABN Amro joins forces with Delft University of Technology to develop blockchain prototypes. Stronger together.
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