SWIFT partnered with Capgemini to achieve its goal of coexistence between fiat and CBDC. As for cryptocurrency, SWIFT will only accept those who are regulated. What puzzles me is how can the experimentation with decentralized technologies help SWIFT achieve such a goal?
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SWIFT is already part of the fiat financial system so I think it would help Gemini make the payments in and out. So I think in a way, they are trying to connect the stable coins to the CBDC. So anyone converting stablecoins into dollars would get CBDC instead.
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What puzzles me really is the role of decentralized technologies in achieving their centralized goal? 😆
!CTP
To begin with, it was never decentralized, and I think that most decentralized things start off centralized in the start. It's about how they move forward from that point and I don't a company like Gemini will want to fully decentralize as they want the profits and control.
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So basically if you don't obey to the system you can't play Swift's game... I'm not amazed of these things at all.
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Yes, that's how I see it also.
SWIFT is no longer the only game in town, so to speak. Alternatives have been in the works in recent decades. These alternatives don't depend on USD.
Even though dollar hegemony remains staggering, it's not what it used to be even 5 years ago. It will be a long time before dollar hegemony is broken, but that day draws close and closer.
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