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SWIFT Confirms Blockchain Integration with ISO 20022 Data Dictionary
In a recent statement highlighted by crypto researcher SMQKE, a representative from SWIFT (Society for Worldwide Interbank Financial Telecommunication) has officially acknowledged the role of blockchain within the ISO 20022 framework. This significant development marks a critical milestone in the convergence between traditional financial infrastructure and emerging decentralized technologies.
During a recorded segment, the SWIFT speaker emphasized that the organization serves as a registration authority for ISO 20022, undertaking both developmental and maintenance work while emphasizing that the standard is not exclusive to SWIFT’s systems. It was revealed that many market infrastructures and institutions already utilize ISO 20022 outside of SWIFT’s networks, underscoring its utility beyond any singular platform.
The SWIFT official further clarified that ISO 20022 is syntax-agnostic, a feature allowing for widespread adoption across multiple technological formats, thus fostering broader interoperability. The representative also pointed to the growing trend of APIs and blockchain developments leveraging the ISO data dictionary.
This acknowledgment by SWIFT effectively signifies the convergence of traditional financial messaging standards with emerging distributed ledger technologies.
Source: timestabloid.com
