SWIFT sucks and is a ripoff. Blockchain is far more efficient and cheaper. It will probably replace SWIFT in the near future.
Let the Eurotrash keep SWIFT.
You Sir, are correct. Blockchain systems already exist and have since at least 2018 that will allow much faster (seconds over day) and much cheaper (pennies instead of percentages) foreign transactions to occur on a decentralized platform.
Many banks, including bank f America, are using these platforms for their intra-bank transfers.
All the market is waiting on is regulatory guidance from the U.S. as the dollar is the “coin of the realm”. Trump is seeing too that right now.
SWIFT will either transform to blockchain technology or become a thing of the past.