Electronic Payments
1. (Visa/Mastercard) Fast, convenient digital transactions, but still using traditional bank-based money.
• Allows a shift away from cash for most spending while banks control flows.
• Doesn't address cross-border frictions, settlement lag, or interchange fees.
2. Sovereign Money: (USD/GBP/EUR)
Traditional fiat currencies still used domestically within countries.
• Central bank digital currencies may emerge to supplement physical cash.
• Backing currencies with gold could restore confidence, stabilization.
Still no fix for international payments between sovereign monies.
3. Digital Assets: (XRP/Crypto)
Used for settlement of cross-border transactions and contracts.
Near-instant clearing between currencies, asset classes, markets.
Avoid third-party intermediaries; use common neutral asset (XRP).
Can balance trade surpluses/deficits.
4. Gold & Silver: Valuable commodity with long-history creates trust.
• Backing for fiat currencies could limit inflation, increase redeemability.
• Pricing goods in gold terms simplifies international trade.
• Physical gold offsets trade imbalances between countries.
The combination of these components fosters a more secure and transparent financial system.
The electronic payment methods leverage digital technologies for efficiency, while the incorporation of precious metals and digital currencies brings intrinsic value and transparency.
The adherence to Basel 3, ISO-20022, and Comex 589 standards further ensures a fair and balanced global financial environment by setting regulatory frameworks and fostering international cooperation.
No one will be forced into Digital Currency if you have no need for it in your daily transactions. No different than you having cash in your account without using credit or debit cards. Digital coins will be supported by ISO-20022 which is a anti money laundering tool. Here is a list of some of the crypto.
Quant (QNT)
Ripple (XRP)
Stellar (XLM)
Hedera (HBAR)
IOTA (MIOTA)
XDC Network (XDC)
Algorand (ALGO)
Cardano (ADA)
Verge (XVG)
SWIFT Implementation of The Standard.
The coexistence of SWIFT and ISO 20022 for cross-border payments and reporting (CBPR+) began on March 20, 2023, initiating a significant phase in the global payments industry. During the coexistence period, extending until November 2025, SWIFT will support MT (Message Type) and ISO 20022, allowing financial institutions to migrate to the new standard at their preferred pace.
This development represents an essential milestone in adopting ISO 20022, as it allows for a smooth transition period and accommodates the varying readiness of different institutions. SWIFT, the global provider of secure financial messaging services, will offer continued support throughout this coexistence phase, facilitating the integration of ISO 20022 and its structured data within the financial community.
__________________________
[FOLLOW THE SIGNAL]
Christian B. Wallace
Tier 4B
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