SWIFT successfully completes SmartContract trials

The interbank payment service provider SWIFT has concluded a block-based proof-of-concept together with the Startup SmartContract.

The Proof-of-Concept uses Smart Contracts, which enable users to connect Smart Contracts with data streams, APIs, and various payment methods.

The Startup SmartContract won a SWIFT competition last year. In addition to the Startup SmartContract, SWIFT also works with other blockchain startups. SmartContract is currently preparing for a pre-sale for its own crypt diet called LINK. The token should be used to pay for the ChainLink Node operators who maintain or operate the network.

Smart Contracts should allow all data, whether from exchanges, banks or companies, to be processed by creating new interfaces that allow a link between the individual actors. The blockchain solution is thus trying to bridge the gap between the blockchain ecosystem and the traditional financial sector.