Shift

2024

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SWIFT, the global bank messaging network, announced on Thursday that it will begin live trials of tokenised assets and digital currencies next year. This move is part of a broader effort to integrate these digital assets into the mainstream financial system, which has so far been progressing at a relatively slow pace. 
<h2 class="p1" id="integration-of-digital-assets-into-the-financial-system">Integration of Digital Assets into the Financial System</h2> 
For several years, banks and asset managers have been researching the concept of “tokenising” traditional assets such as bonds. The goal behind this tokenisation is to create digital units, often using blockchain-based tokens that reflect a share of the underlying asset. These digital representations are anticipated to make trading faster, more cost-effective, and efficient, primarily by eliminating intermediaries that are usually involved in many financial transactions. However, despite the potential benefits, these initiatives have struggled to achieve widespread adoption in the broader financial market. 
<a href="https://www.swift.com/">SWIFT has been active in trials of both central bank digital currencies (CBDCs) and tokenised assets</a>. In March, it unveiled a new platform aimed at connecting various CBDCs under development to the existing global financial infrastructure. CBDCs, which are digital versions of traditional fiat currencies, are currently being tested by around 90% of the world’s central banks. These digital currencies could potentially facilitate the trading of tokenised assets, as central banks strive to keep up with the rapid technological advancements that have led to the emergence of <a href="https://insidebitcoins.com/buy-cryptocurrency/buy-bitcoin">cryptocurrencies like Bitcoin.</a> 
<h2 class="p1" id="challenges-in-adoption-of-tokenised-assets-and-digital-currencies">Challenges in Adoption of Tokenised Assets and Digital Currencies</h2> 
The upcoming SWIFT trial will involve testing different types of digital assets across multiple platforms, which is crucial given the current fragmented state of the digital asset market. Nick Kerigan, SWIFT’s head of innovation, said: 
<blockquote> 
 We see industry demand to transition from the trial phase to a point where<a href="https://insidebitcoins.com/buy-cryptocurrency/best-crypto-presales"> digital assets are actively traded</a>, and a counterparty pays in real money against them. 
</blockquote> 
&nbsp;He added that this transition will occur in a controlled manner over the coming year. 
The fragmented nature of <a href="https://insidebitcoins.com/buy-cryptocurrency">the digital asset market</a> remains a significant barrier, with few initiatives advancing beyond the experimental stage within banks’ internal systems. While the potential for digital currencies and tokenised assets is considerable, the market’s lack of cohesion has prevented many projects from reaching practical implementation on a larger scale. 
Central banks are also experimenting with wholesale <a href="https://www.imf.org/en/Publications/fintech-notes/Issues/2024/05/15/Cross-Border-Payments-with-Retail-Central-Bank-Digital-Currencies-547195">CBDCs for cross-border payments,</a> but their testing is usually limited to small, closed groups. The integration of tokenised deposits or wholesale CBDCs is critical for successfully trading and settling tokenised bond transactions. Kerigan emphasized that: 
<blockquote> 
 To execute a tokenised bond transaction successfully, you need both the asset and the cash. It’s not sufficient to have just the delivery or just the payment, you need both to ensure seamless settlement. 
</blockquote> 
The financial industry is eagerly anticipating this new stage of live digital asset transactions, hoping that it will provide the necessary momentum to propel tokenisation and digital currencies into the mainstream financial ecosystem. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 .<a href="https://twitter.com/money2020?ref_src=twsrc%5Etfw">@Money2020</a> has come to a close in Vegas, where we witnessed how institutions are transforming the future of finance. 
 Swift’s <a href="https://twitter.com/cneti59?ref_src=twsrc%5Etfw">@cneti59</a> joined a dynamic panel, sharing insights on how new forms of <a href="https://twitter.com/hashtag/AI?src=hash&amp;ref_src=twsrc%5Etfw">#AI</a> and privacy-enhancing technology can help institutions fight fraud.… <a href="https://t.co/3hYfe29s8J">pic.twitter.com/3hYfe29s8J</a> 
 — Swift (@swiftcommunity) <a href="https://twitter.com/swiftcommunity/status/1852395859213987986?ref_src=twsrc%5Etfw">November 1, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h2 class="p1" id="flockerz-a-prominent-crypto-presale-featuring-a-meme-based-dao-concept">Flockerz: A Prominent Crypto Presale Featuring a Meme-Based DAO Concept</h2> 
<a href="https://insidebitcoins.com/visit/flockerz" rel="nofollow">Flockerz has emerged as one of the standout crypto presales</a> this year, offering a unique approach to popularize the decentralization of the cryptocurrency ecosystem. With a clever concept and an engaging narrative, this project has been generating significant attention within the community. Its humorous style combined with a strong commitment to decentralization sets it apart from other meme coin initiatives. 
The Flockerz project is built around FlockTopia, a decentralized autonomous organization (DAO) with a rich backstory. The lore behind FlockTopia centers on a once-powerful king who ruled over the crypto kingdom. However, when the kingdom faced ruin, the king chose to relinquish his authority, distributing power among his subjects to democratize control over “degen trading.” This imaginative storyline forms the foundation for the community-driven and participatory nature of FlockTopia. 
&nbsp; 
<a href="https://insidebitcoins.com/visit/flockerz" rel="nofollow">The central feature of FlockTopia is its Vote-to-Earn ecosystem</a>, which allows investors not only to vote on decisions related to the project’s future development but also to earn rewards for their participation. This incentive model is designed to encourage active engagement from the community and make governance more rewarding. In addition to this, Flockerz offers a staking option, providing another benefit for long-term holders who wish to support the project while earning passive income. 
Flockerz adopts a witty and eye-catching theme, symbolized by a flock of hens surrounding their king at the center. Each hen is depicted with a lazy-eyed look, reflecting the fluctuating nature of the cryptocurrency market. The imagery of these birds staring anxiously at the market’s ups and downs humorously captures the common investor’s quest for both short-term gains and long-term profits. 
By combining a compelling backstory, engaging mechanics like Vote-to-Earn, and a playful visual style, Flockerz is positioning itself as a distinctive player in the rapidly evolving world of meme coins. With its presale generating buzz and attracting attention, the project aims to leverage community involvement and reward participation, creating a self-sustaining ecosystem that offers benefits to both casual investors and committed stakeholders. 
<a href="https://insidebitcoins.com/visit/flockerz" class="su-button su-button-style-3d" style="color:#000000;background-color:#F9A602;border-color:#c88502;border-radius:9px;-moz-border-radius:9px;-webkit-border-radius:9px" target="_self" rel="nofollow"><span style="color:#000000;padding:0px 24px;font-size:18px;line-height:36px;border-color:#fbc14e;border-radius:9px;-moz-border-radius:9px;-webkit-border-radius:9px;text-shadow:none;-moz-text-shadow:none;-webkit-text-shadow:none"> Visit Flockerz Presale</a> <iframe title="FLOKI IS GOING TO EXPLODE AFTER THIS LAUNCH!! GET READY FLOKI HOLDERS!!" width="640" height="360" src="https://www.youtube.com/embed/daKrhqMyK3s?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe> 
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SWIFT to Conduct Live Digital Currency Transactions Next Year

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