So SWIFT completed its Proof of Concept blockchain testing for interbank settlement.
https://www.ft.com/content/966f5694-22c6-11e8-ae48-60d3531b7d11'While Swift said the test “went extremely well” it concluded that “further progress is needed” on the blockchain — or distributed ledger technology (DLT) — “before it will be ready to support production-grade applications in large-scale, mission-critical global infrastructures”.
“Although the proof of concept demonstrated DLT could improve Nostro liquidity management and reconciliation processes, it also revealed that the prerequisites will have to be met before banks can enjoy the full benefits of switching to a DLT process,” said Damien Vanderveken, head of research and development at Swift.
Mr Vanderveken told the Financial Times that the test had showed there would be significant “operational challenges” to using blockchain technology for all of its 11,000 members.
This is not least because the 28 banks that ran tests on the system required the creation of 528 sub-ledgers to avoid confidential information being seen by rival banks. To roll it out to all of Swift’s members, Mr Vanderveken estimated it would require 100,000 sub-ledgers to be created, making them extremely unwieldy to maintain, upgrade or configure.'
Jeeeeez. Ummmmmm..... so they haven't heard of obfuscated blockchains, then?
Seems like Dero could solve this problem quite easily