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I thought swift was just a protocol that banks used to talk to one another. If so how can it be used to cut russia? I’m guessing I’m missing a part where it is
by baby 5y ago
I thought swift was just a protocol that banks used to talk to one another. If so how can it be used to cut russia? I’m guessing I’m missing a part where it is some centralized server somewhere?
- sealthedeal 5y agoIt’s just how banks tell one another money is coming to them. Without Swift money would just be showing up and no one would know wtf was going on.
- baby 5y agoI'm not sure I understand, how does "money show up"? Do you mean that bank A doesn't have an account at bank Z, so they must take another route A -> B -> Z, and thus at some point bank B might credit bank Z account and bank A needs to tell that to bank Z?