SWIFT Global Bank Messaging Network Announced That It Is Planning to Launch a CBDC Platform in 12-24 Months
SWIFT envisions that in as early as one year it's platform could be launched, and by 2030, assets will be “‘tokenised’ - transformed into digital chips that can be issued or traded in real time.
Revelation 21:7-8 (KJV)
7 He that overcometh shall inherit all things; and I will be his God, and he shall be my son.
8 But the fearful, and unbelieving, and the abominable, and murderers, and whoremongers, and sorcerers, and idolaters, and all liars, shall have their part in the lake which burneth with fire and brimstone: which is the second death.
SWIFT Global Bank Messaging Network Announced That It Is Planning to Launch a CBDC Platform in 12-24 Months
On March 26, 2024, Reuters reported that “Global bank messaging network SWIFT is planning a new platform in the next one to two years to connect the wave of central bank digital currencies now in development to the existing finance system, it has told Reuters.”
“SWIFT's head of innovation, Nick Kerigan, said its latest trial, which took 6 months and involved a 38-member group of central banks, commercial banks and settlement platforms, had been one of the largest global collaborations on CBDCs and "tokenised" assets to date.
It focused on ensuring different countries' CBDCs can all be used together even if built on different underlying technologies, or "protocols", thereby reducing payment system fragmentation risks.
It also showed they could be used in highly complex trade or foreign exchange payments and potentially be automated so to both speed up and lower the costs of the processes.”
Kerigan also said in the interview, “‘We are looking at a roadmap to productize (launch as a product) in the next 12-24 months … It's moving out of experimental stage towards something that is becoming a reality.’"
To understand the gravity of this announcement, one needs to understand what is SWIFT, the scope and breadth of SWIFT’s reach, and what is the SWIFT Banking System. According to Investopedia:
“What is the SWIFT Banking System? The Society for Worldwide Interbank Financial Telecommunications (SWIFT) system powers most international money and security transfers. SWIFT is a vast messaging network used by financial institutions to quickly, accurately, and securely send and receive information, such as money transfer instructions. … Financial institutions use SWIFT to securely transmit information and instructions through a standardized code system. Although SWIFT is crucial to global financial infrastructure, it's not a financial institution. SWIFT does not hold or transfer assets but facilitates secure, efficient communication between member institutions.
“As well as the advance towards CBDCs, Kerigan pointed to a forecast from Boston Consulting Group (BCG) that by 2030 around $16 trillion worth of assets could be ‘tokenised’ - a process where assets like stocks and bonds are transformed into digital chips that can then be issued and traded in real-time.
‘If we can plug in any number of networks (into the SWIFT system) it becomes a much more scalable option for the industry,’ he said.”
In July 2023, I wrote about the Bank of International Settlements’ (BIS) plan to tokenize all privately held assets on a global unified ledger (see below). If the SWIFT CBDC platform is as compatible with different payment systems’ protocols and settlement platforms, as Nick Kerigan says it is, it will not be long before they have many different ledgers, feeding into one global ledger. Once they reduce all the ledgers into just one ledger, or feed all ledgers into once centralized global ledger, as the BIS laid out in their plan to tokenize all assets on a unified global and programmable ledger, then they control everything, all assets, even our privately held assets.
Like Nick Kerigan said in the interview, our assets (car, house, bank deposits, stocks, bonds or any other asset) will be “‘tokenised’ - a process where assets … are transformed into digital chips that can then be issued and traded in real-time.”
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