RabbitVectorStory
Taurus co-founder says Swift's new blockchain needs more internal tech layers
No clear lean
Technical critique of bank infrastructure, not a market-moving event.
What happened
Swift, the messaging system banks use to move money internationally, has been testing its own blockchain-based ledger. A co-founder of Taurus, a crypto infrastructure company, says this ledger still needs several additional internal technical layers (things like security, compliance checks, and connections to other systems) before it can really work at scale.
Why it matters
This is about traditional banks experimenting with blockchain tech behind the scenes, not a change to any coin or token you might hold, so it doesn't directly affect your crypto holdings.
Should I do anything?
Nothing to act on here, this is industry infrastructure talk, not a signal about prices or security risks to your own funds.
Terms used
- blockchain ledger
- A shared digital record-keeping system where transactions are logged in a way that's hard to alter after the fact
- custody
- Safely holding and managing crypto assets on behalf of someone else, similar to how a bank holds your money