SWIFT Confirms Blockchain Integration with ISO 20022 Data Dictionary
Main Idea
SWIFT has confirmed the integration of blockchain technology within the ISO 20022 framework, highlighting its role as a syntax-agnostic standard that enables interoperability across various technologies, including APIs and blockchain.
Key Points
1. SWIFT serves as a registration authority for ISO 20022 and acknowledges blockchain's role within this framework.
2. ISO 20022 is syntax agnostic, allowing adoption across multiple technological formats, including blockchain and APIs.
3. Blockchains are already being developed using the ISO 20022 data dictionary, indicating growing interoperability.
4. SWIFT's remarks suggest a future where financial messaging systems and decentralized networks may increasingly adopt ISO 20022 standards.
Description
In a statement highlighted by crypto researcher SMQKE, a SWIFT representative has openly recognized the role of blockchain within the ISO 20022 framework. During a recorded segment, the SWIFT speaker noted that the organization serves as a registration authority for ISO 20022, carrying out development and maintenance work while emphasizing that the standard is not exclusive to the SWIFT network. The official explained that many market infrastructures and institutions already use ISO 20022 outsid...
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