Banks need to develop their own blockchain-based infrastructure before they can utilize Swift's tokenized-deposit network, according to Lamine Brahimi, co-founder of Taurus. This includes a permissioned ledger, wallet tools, and smart-contract capabilities.
Source
"Swift Blockchain Ledger Still a Work in Progress, Taurus Co-Founder Warns" — CoinDesk
This article is Bitcoincryptos' summary and analysis of reporting originally published by CoinDesk. Read the full original report at the link above.
Brahimi's comments highlight the complexity of integrating blockchain technology into the traditional banking system. Swift's tokenized-deposit network aims to streamline cross-border transactions, but its adoption depends on the banks' ability to support its underlying infrastructure.
