5 ms·
> What you are implying here is that SWIFT ban is not that big of a deal as there are alternatives. I don't think it's so much that, but the UK and US bans on
by Mindwipe 5y ago
> What you are implying here is that SWIFT ban is not that big of a deal as there are alternatives.
I don't think it's so much that, but the UK and US bans on dollar clearance for banking which happened a few days before the SWIFT block actually did 90% of the work that the SWIFT ban is getting the credit for.
It's like turning off the metadata layer two days after putting an axe through the ethernet cable.
- sam_lowry_ 5y agoSWIFT is a stone-age blockchain. Its messages have non-repudation properties. The ban makes it much harder to make settlements.
- dariusj18 5y agoI imagine the idea being that without SWIFT, any bank will require the funds to have actually moved before they are made available.