all these systems will surely upgrade their underlying technology to improve and be able to continue competing with bitcoin as the serious and only decentralized currency which is threatening their business. so in that process they are testing a lot of different altcoin's technologies to adapt into their own system. they will never use any of the altcoins themselves though.
so no you can't say blockchain will replace SWIFT,... the only thing that will happen is that they will lose the market to bitcoin and then upgrade their systems to try and take some of it back.
so no you can't say blockchain will replace SWIFT,... the only thing that will happen is that they will lose the market to bitcoin and then upgrade their systems to try and take some of it back.
Well, time will tell us if we were wrong once financial institutions start adopting Blockchain technology at a large scale. The old SWIFT system being large in user base, could become bigger than ever if it grasps the benefits of Blockchain tech. So far, Ripple and IBM have been working on payment networks with the purpose of bringing cheap and efficient transactions for the world. They have higher chances of overcoming SWIFT in the future if the latter doesn't adapt to the latest technologies.
Still, it's becoming more evident that Blockchain tech will transform nearly every aspect of our lives in the future. It's not only about finance, but also healthcare, transportation, and more. All of this means that Blockchain will soon replace old traditional systems, bringing everything towards the 21st century. Once that is complete, then physical cash will cease to exist, and Banks will be able to provide their customers with digital money instead.
Powered by either Ripple or IBM's World Wide Network, our economy will flourish in many ways that were never thought possible. Just my opinion
