Hasn't Wise (and others) already done this? https://lnkd.in/g97qSQrm What is the BIS doing building and an Instant Payment System? (Well not yet it is only a 'comprehensive blueprint') And why are they building a parallel SWIFT organization? And why does BIS keep ignoring PAPSS? https://papss.com/ PAPSS is live and operational! Uses ISO 20022 and is Cloud base! But Not Invented Here! #BIS
Alan Lloyd
1mo
A bit like x500, 509 Patrick...aligned to the global telco, postal white pages, locations, organisations and national names, jurisdictions,and Telco numbering plans, and cryptographically protected governace hierarchies... deployed now since 1993 globally. Seemingly operational, global id and trust anchors at scale ...pki is not understood by the e.g. SSI and DID initiative... SSI self sovereign identity, but needs a global trusted issuer validation and governance infrastructure.. DID decentralised identity, but needs a global trusted issuer, validation governance function.... and x509 PKI is a global identity based trusted Issuer, validation governance function.... in operation. E.g the theme.seems to be .. "We dont like what is, but dont understand it , so let's invent the same over the next decade.." .
Roderick Mann
1mo
Much like big tech stumbling over each other to be the firstest with the mostest AI products and services, the payment systems space is equally crowded and it isn't clear who will ultimately dominate. But johnny-come-lately's are going to have it toughtest I think... Elon Musk envisions transforming X (Twitter) into a comprehensive payment platform. His goal is to integrate various financial services, making X an “everything app” where users can manage their entire financial lives. Users will be able to send and receive money, similar to services like Venmo. Musk plans to offer high-yield savings accounts to encourage users to keep their money within the platform. A centralized hub for all payment activities, making it convenient for users to manage their finances. Support for creators to monetize their content through features like paywalled videos. Musk aims to launch these services in the US by the end of 2024, with plans to expand globally in the future.
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1moI think BIS must be talking about a higher level integration. But indeed, with Wise et al the functionality is already there.