{"id":492827,"date":"2022-09-14T00:45:00","date_gmt":"2022-09-13T21:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/swift-and-symbiont-announce-corporate-data-blockchain-pilot\/"},"modified":"2022-09-14T00:45:00","modified_gmt":"2022-09-13T21:45:00","slug":"swift-and-symbiont-announce-corporate-data-blockchain-pilot","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/swift-and-symbiont-announce-corporate-data-blockchain-pilot\/","title":{"rendered":"# SWIFT and Symbiont announce corporate data blockchain pilot"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a301fea450be\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a301fea450be\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/swift-and-symbiont-announce-corporate-data-blockchain-pilot\/#%E2%80%9D_SWIFT_and_Symbiont_announce_corporate_data_blockchain_pilot_%E2%80%9C\" >&#8221; SWIFT and Symbiont announce corporate data blockchain pilot &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_SWIFT_and_Symbiont_announce_corporate_data_blockchain_pilot_%E2%80%9C\"><\/span>&#8221; SWIFT and Symbiont announce corporate data blockchain pilot &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvYjY0ZDkyZjAtNjE5Yi00YmU2LThlOTgtZDY3NjRhMzg1ZmJiLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-71846793>The Society for Worldwide Interbank Financial Telecommunication (SWIFT)\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.swift.com\/news-events\/news\/swift-innovates-remove-friction-corporate-actions\">disclosed<\/a> on Tuesday a partnership with fintech company Symbiont to provide more accurate data for financial firms through blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>.\u00a0<\/p>\n<p>Vanguard, Citigroup, American Century Investments, and Northern Trust are among the companies participating in the initiative.<\/p>\n<p>According to the announcement, the pilot project &#8220;could help providers distribute data in near real time to global custody clients.&#8221; Through Assembly, Symbiont&#8217;s proprietary technology platform, smart contracts will be used &#8220;to create a network effect that leverages the 11,000+ institutions connected to SWIFT globally.&#8221;<\/p>\n<p>In 2017, Symbiont partnered up with Vanguard to improve price index data distribution through blockchain, consuming data from funds worth $1.3 trillion at the time.<\/p>\n<p>\u201cBy bringing Symbiont\u2019s Assembly and smart contracts together with SWIFT\u2019s extensive network, we\u2019re able to automatically harmonize data from multiple sources of a corporate action event,\u201d said Tom Zschach, chief Innovation Officer at SWIFT, adding that Assembly&#8217;s smart contract would allow to &#8220;compare information shared between participants and flag discrepancies, contradictions or inconsistencies across custodians.\u201d<\/p>\n<p>Due to the rise of Central Bank Digital Currencies (CBDC), the company has been making efforts to maintain its relevance in the international economic order. In 2017, the interbank cooperative launched its global payments&#8217; innovation, gpi, seeking to enhance payments tracking and fee transparency, allowing customers to send cross-border payments 24 hours per day.<\/p>\n<p>In February, the European Commission\u00a0decided to deactivate the SWIFT network for several Russian banks due to the war in Ukraine. Recently in a panel session at the Blockchain Central Davos conference, Michael Miebach, Mastercard&#8217;s CEO,\u00a0said that he does not expect SWIFT is unlikely in five years. Founded in 1973, SWIFT handles over five billion financial messages a year and has a presence in 200 countries.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/swift-and-symbiont-announce-corporate-data-blockchain-pilot\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; SWIFT and Symbiont announce corporate data blockchain pilot &#8220; The Society for Worldwide Interbank Financial Telecommunication (SWIFT)\u00a0disclosed on Tuesday a partnership with fintech company Symbiont to provide more accurate data for financial firms through blockchain technology.\u00a0 Vanguard, Citigroup, American Century Investments, and Northern Trust are among the companies participating in the initiative. According to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":492828,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvYjY0ZDkyZjAtNjE5Yi00YmU2LThlOTgtZDY3NjRhMzg1ZmJiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,80179,82570,133244,74355,117],"class_list":["post-492827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-citi","tag-swift","tag-symbiont","tag-adoption","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/492827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=492827"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/492827\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/492828"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=492827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=492827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=492827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}