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... It takes days to send money with SWIFT and the costs are much higher. Bitcoin is a superior technology that provides substantial benefits to banks. That's
by Avalaxy 12y ago
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It takes days to send money with SWIFT and the costs are much higher. Bitcoin is a superior technology that provides substantial benefits to banks. That's why the 3 biggest banks in the Netherlands are seriously looking at using Bitcoin for their payments.
- kolev 12y agoNo, SWIFT is not slow. I move money from US to EU in 12 hours thru wires and pay a flat fee of $20. SWIFT is fast, it's just a messaging system, but slowness comes from elsewhere, for example, going thru correspondent banks. "Seriously looking" is a gross exaggeration. Banks always look at alternatives, but are very careful about changing their proven methods!