This is fantastic - I wish I could've been there, watching people in expensive suits and silk ties squirm a bit when the live feed updated, some with the distinct feeling that they've just seen the premonition of their own demise.
The concluding sentiment doesn't surprise either -- "Oh sure, it will do something in the next few years or so - but we're perfectly okay with our large fee transaction scheme... (we think)."
Yeah, sure you are guys. Just wait until most international transfer bypasses you like a crowbar thrown on the third rail of the subway. No power coming to you down the line, I'm afraid - Bitcoin has shunted it all, or soon will.
Couldn't happen to a better group of overpaid bit-shifters.
Topic: 2013-05-20 Forbes : Bitcoin Comes To SWIFT (Read 1590 times)
Very nice article.
Matonis is always a good read.
"This European Union approach to money and payments sits in stark contrast to events currently unfolding in the United States where a still-evolving payments exchanger recently had account funds seized via court order on dubious legal grounds. The EU tends to view futuristic payments as a framework opportunity rather than a target-rich environment for arrogant enforcement."
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