Blockchain Pilot Conducted by SWIFT: A Step Forward Towards Enterprise Behaviors

According to reports, SWIFT shared the results of its latest enterprise behavior blockchain pilot, announced that the pilot was successful, and planned to advance this work. The latest experiment involves six organizations, including American Century Investments, Citi, and Northern Trust. This experiment uses the SWIFT messaging standard and supports participants to share data across blockchain networks. If there is enough data matching, a recommended shared version is created. In the next phase, machine learning will be combined to assist in the matching process. These tests do not focus on simple corporate behaviors such as dividends, but rather involve complex behaviors such as tender offers and share splits.

SWIFT Pushes Blockchain Company Action Pilot to the Next Stage

As per reports, SWIFT has announced the successful completion of its latest enterprise behavior blockchain pilot and has revealed plans to further advance this work. The latest pilot program included six organizations, including American Century Investments, Citi, and Northern Trust. The SWIFT messaging standard was used in this experiment, which allowed the participants to share data across blockchain networks.

Overview of the Experiment

The pilot program was designed to test the functionalities of blockchain technology in enterprise behavior. Rather than focusing on simple corporate behaviors such as dividends, the experiment involved complex behaviors like tender offers and share splits. The primary objective of the pilot was to examine whether blockchain could increase the efficiency and transparency of the processes involved in complex enterprise behaviors.

The SWIFT Messaging Standard

The SWIFT messaging standard is widely known for its security and reliability, and it is commonly used for financial transactions between banks and other financial institutions. With this latest experiment, SWIFT aims to utilize the highly secure and reliable messaging standard to support blockchain technology.

Sharing of Data Across Blockchain Networks

The participants in the pilot program were able to share data across blockchain networks through the SWIFT messaging standard. If there was enough data matching, a recommended shared version was generated. This approach allows for better communication and transparency between participants in a secure and immutable environment.

The Role of Machine Learning in The Next Phase

The next phase of the project will involve the combination of machine learning to assist in the matching process. This advancement is expected to create a system that can learn from experience and customize itself when new situations arise. With the integration of machine learning, the process will be more efficient, more accurate, and more valuable.

Conclusion

The successful completion of the enterprise behavior blockchain pilot program by SWIFT is a significant step forward for the adoption of blockchain technology in enterprise behavior. This experiment has shown that blockchain can increase the efficiency and transparency of complex enterprise behaviors. The integration of machine learning in the next phase is expected to bring about more significant improvements.

Frequently Asked Questions

Q1. Why is the SWIFT messaging standard significant in the latest blockchain experiment?

The SWIFT messaging standard is commonly used for financial transactions between banks and other financial institutions. With its secure and reliable nature, this messaging standard is expected to support blockchain technology in increasing the efficiency and transparency of complex behaviors in the enterprise.

Q2. How does the sharing of data across blockchain networks work in the latest experiment by SWIFT?

Participants in the pilot program share data across blockchain networks through the SWIFT messaging standard. If there is enough data matching, a recommended shared version is created. This system allows for better communication and transparency between participants in a secure and immutable environment.

Q3. What can be expected in the next phase of the SWIFT enterprise behavior blockchain experiment?

The next phase of the project aims to integrate machine learning into the matching process, which is expected to create a system that can learn from experience and customize itself when new situations arise. This advancement is expected to bring about more significant improvements in the efficiency and accuracy of the process.