SWIFT Pushes Blockchain Company Action Pilot to the Next Stage

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

I. Introduction
– Brief explanation of reports on SWIFT’s latest blockchain pilot
– Importance of the success of the pilot
II. Six Organizations Involved in the Experiment
– Explanation of the role of American Century Investments, Citi, and Northern Trust
– Details on the other three organizations
III. SWIFT Messaging Standard and Blockchain Networks
– Explanation of SWIFT messaging standard
– How data sharing across blockchain networks was achieved
IV. Creation of Recommended Shared Version
– How the shared version is created when there is enough data matching
– Benefits of the recommended shared version
V. Incorporation of Machine Learning in the Matching Process
– Explanation of the integration of machine learning
– Advantages of using machine learning in the matching process
VI. Complex Behaviors Involved in the Experiment
– Explanation of the types of behaviors tested in the pilot
– Importance of testing for complex behaviors
VII. Conclusion
– Summary of the success of the pilot
– Future plans for the advancement of the work
VIII. FAQs
– What is SWIFT messaging standard?
– What is blockchain networks?
– How can machine learning assist in the matching process?

According to Reports, SWIFT’s Latest Enterprise Blockchain Pilot is a Success

In a recent report, SWIFT announced that its latest enterprise behavior blockchain pilot was successful, and it plans to advance this work. The experiment involved six organizations, namely American Century Investments, Citi, and Northern Trust, among others. The main objective of the pilot was to use the SWIFT messaging standard and support participants to share data across blockchain networks. If there is enough data matching, the pilot creates a recommended shared version. In the next phase, machine learning will be added to assist in the matching process. These tests do not focus on simple corporate behaviors such as dividends, but involve complex behaviors such as tender offers and share splits.

Six Organizations Involved in the Experiment

The experiment involved six organizations globally, including American Century Investments, Citi, and Northern Trust. These organizations were responsible for testing the pilot’s feasibility and providing feedback on its shortcomings. The feedback from these institutions was used to enhance the performance and address all the outstanding issues for successful completion.

SWIFT Messaging Standard and Blockchain Networks

To achieve data sharing across blockchain networks, the experiment used SWIFT messaging standard- a protocol used by banks and financial institutions to exchange information securely. Blockchain networks work by sharing information with multiple nodes at a time, making data sharing fast and reliable.

Creation of Recommended Shared Version

When there is enough data matching in the pilot, the system creates a recommended shared version. This version serves as a reference point to all involved parties, allowing for the detection of divergence and the necessary corrections.

Incorporation of Machine Learning in the Matching Process

In the next phase of the pilot, machine learning will be integrated to assist in the matching process. Machine learning will be used to ensure that the matching process is efficient and effective. It will also help to detect any potential errors.

Complex Behaviors Involved in the Experiment

Unlike other similar tests, the experiment was designed to test for complex behaviors, such as tender offers and share splits. By doing so, the project owners aim to demonstrate the extent to which blockchain networks can handle complex processes.

Conclusion

SWIFT’s latest blockchain pilot was a success, and the project owners intend to proceed with further advancements. Through the experiment, the use of the SWIFT messaging standard, and support for data sharing across blockchain networks was achieved. In the next phase, machine learning will be incorporated, providing more support for efficient data matching. The project tested complex behaviors to demonstrate the blockchain networks’ capabilities in handling complicated processes.

FAQs

Q: What is SWIFT messaging standard?
A: SWIFT messaging standard is a protocol used by banks and financial institutions to exchange information securely.
Q: What is blockchain networks?
A: Blockchain networks allow information to be shared with multiple nodes simultaneously, making data sharing fast and reliable.
Q: How can machine learning assist in the matching process?
A: Machine learning can help to ensure that the matching process is efficient and error-free.