in , , , ,

SWIFT vs RIPPLE: Rivals not Partners

Ripple enthusiasts around the world have been debating on the possibility of Ripple and Swift partnering with each other but it could eventually turn false.
Ripple enthusiasts around the world have been debating on the possibility of Ripple and Swift partnering with each other but it could eventually turn false.

Ripple enthusiasts around the world have been debating on the possibility of Ripple and Swift partnering with each other. Earlier, we had analyzed how they are surely going to partner with each other considering the different perspective. Recently, however, it seems that the following possibility could eventually turn false as both of these companies are working hard, not for a partnership but to rather compete with each other.

 

Swift clearly says ‘No’ for a partnership with Ripple

According to an article published on the Finance Magnates, a spokesman of Swift clearly denied any future partnership with Ripple by stating that he does not know where the rumors are coming from and that the upcoming new releases or software updates in the Swift network is not related to RippleNet at any cost. The upcoming standards will ensure the use of tracking reference (UETR) in all payments or transactions allowing backs to track their GPI payments in real-time.

 

Ripple denies too:

Ripple’s chief market strategist, Cory Johnson clarified that the aim of Ripple is to offer a product to directly compete with Swift and eventually replace it. This was revealed by Steven Diep in a tweet on January 3rd this year about his interview video with Cory Johnson stating that Ripple is meant to replace Swift and that the customers of Ripple are using both Ripple as well as Swift at the moment.


Do you think Ripple can replace Swift in the near future keeping in mind the massive amount of customers that Swift already has? Tell us your thoughts in the comments section below.

Avatar

Written by Nadja Eriksson

Education will be essential to increasing Bitcoin’s acceptance and usage by merchants, institutions, and individuals. Start accepting Bitcoin for business.

How Accepting Bitcoin Can Help Your Business

Ethereum is having the Constantinople hard fork on 16th January. Ethereum Nova is basically fishing for people's private keys and stealing money.

Ethereum Hard Fork: Constantinople Explained, Beware of Scams.