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This is what russia is doing in response, taking their national system and making it international to end-run around SWIFT https://www.fxempire.com/news/articl

by ck2 5y ago

This is what russia is doing in response, taking their national system and making it international to end-run around SWIFT https://www.fxempire.com/news/article/central-bank-of-russia-launches-swift-replacement-with-399-users-918266 https://www.fxempire.com/news/article/central-bank-of-russia... If China joins it, that's going to be a problem. Then I wonder if the spy agencies are going to be able to monitor those networks like they do SWIFT

RC_ITR 5y ago
>If China joins it, that's going to be a problem. Will it really be, though? China has their own system with CIPS, so if there's any joining, it will be Russia joining that. Then if Russia joins that, the West has a pretty strong political reason not to use it, then what you end up with is a controversial, lower-quality standard in competition with an already established standard. Like sure, Firewire was sort of a thorn in USB's side, but look who won.