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SWIFT and Accenture issue position paper outlining the path to Distributed Ledger Technology adoption within financial services

22/04/2016

SWIFT, in collaboration with Accenture, has issued a paper investigating how Distributed Ledger Technologies (DLTs) could be used in financial services. The paper is based on an in-depth technology assessment by SWIFT of DLT usage across financial institutions, highlighting the opportunities as well as the challenges for industry-wide adoption. 

As a result of the technology assessment, SWIFT and Accenture identified gaps between existing DLT solutions and industry requirements, including eight critical factors that need to be addressed for the technology to achieve industry-wide adoption. The paper also highlights SWIFT's research and development plans to build technical, operational and business capabilities with a view to evolve its platform such that DLT-based services could be offered, when the technology matures and business use cases emerge across multiple verticals.

Based on the assessment, the eight critical factors that need to be addressed for industry-wide adoption of DLTs include:

  • Strong governance
  • Data controls
  • Compliance with regulatory requirements
  • Standardisation
  • Identity framework
  • Security and cyber defence
  • Reliability
  • Scalability
The paper can be downloaded here SWIFT Position Paper (DLTs).pdf    


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LC required field 44E: Any port in Thailand Field 44F: Any port in Vietnam Bill of lading presented with the bellowing details: Pre-carriage by and Place of Receipt ITAL BONUS V.0474-113S SAHATHAI, THAILAND Vessel and Voy No. and Port of Loading EVER OBEY V.0444-045N LAEM CHABANG, THAILAND Laden on Board the Vessel: OCTOBER 11, 2025 ITAL BONUS V. 0474-113S AT LAEM CHABANG, THAILAND 1. Can we raise the discrepancy: “B/L ON BOARD NOTATION INDICATED PRE-CARRIAGE I/O OCEAN VESSEL”? According to ISBP 821 paragraph E6 (c) (i) when a bill of lading indicates place of receipt different from the port of loading and there is an indication of a means of pre-carriage, it is to bear a dated on board notation which also indicates the name of vessel and the port of loading stated in the credit. In the presented bill of lading, the “on board” notation refers to the pre-carriage vessel ITAL BONUS, instead of the ocean vessel EVER OBEY, even though the port of loading is stated as LAEM CHABANG, THAILAND. We would like to seek your opinion whether this should be considered a discrepancy, or whether it is acceptable given that both Place of Receipt (SAHATHAI, THAILAND) and Port of Loading (LAEM CHABANG, THAILAND) comply with LC field 44E (“Any port in Thailand”). If it is to be treated as a discrepancy, kindly indicate any relevant ICC Opinion or ICC Official Interpretation (e.g., from ICC Opinions R-series or TA-series) that supports this view. 2. Kindly also confirm whether the following two forms of on-board notation would both be acceptable under ISBP 821 E6(c) (i): + Option 1: Laden on Board the Vessel: OCTOBER 11, 2025 EVER OBEY V.0444-045N AT LAEM CHABANG, THAILAND Or + Option 2: Laden on Board the Vessel: OCTOBER 11, 2025 ITAL BONUS V. 0474-113S AT SAHATHAI, THAILAND