Recently, it was reported that the global payment system Swift plans to create a proof of concept for almost instant payments in Europe. Previously, it had launched a system where payments took less than a minute to arrive between Australia and Singapore.
Swift promises to share the details on September 23, at the Sibos 2019 event that starts on 23 September and finishes on 26 September.
A Swift representative touched upon cryptocurrencies by calling them ‘a yoyo’, ‘useless and unstable’.
They go down in value like a yoyo, they’re useless and unstable. And even if crypto companies do make is stable, it’s still a basket of currencies.
The co-founder of the Morgan Creek Digital, a professional investor in both traditional market and Bitcoin, Anthony Pompliano challenges Swift to take its words back, by saying that Swift’s network is ten times smaller than Bitcoin’s and that for BTC this is just a beginning.
Previously, Pompliano also publicly called that Bitcoin has the most secure network in the world. The crypto community responded with skepticism.