Some back story and missing pieces…
Back in 2014 it was announced about the BRICS system.. (Brazil, Russia, India, China, and South Africa) announced they were officially putting their own financial and banking system together. Which had already been in the works for about a decade. This was not to oppose the central banking system. It was to create an alternative from all the fuckery that is the Central Banking system. Basically the Central
Banks would pull some shenanigans. And the BRICS countries would create a different option…
Yes they are all in cahoots with one another,, however the notable thing about the BRICS nations is they seem to consistently make their financial choices with some maturity… They also consistently use defensive tactics. For instance where they want to make move forward, its announced, the central banks pull their shenanigans, and the BRICS make a move that the Central Banks cannot stop because its outside of the capacity to compute or understand.. Somebody in the BRICS has done some serious study of Lau Tsu’s book the art of war, and done the translations so the tactics work for big finances..
Around about 2015 China came up with their own version of a payment card called Union Pay. In China they have also developed an extensive system to pay with a phone, so virtually no cash or a card is needed. In Russia they came up with the MIR card, with is the same type of payment or debt card system as China is using. Both cards were implemented as an alternative to Visa and Master card. How much involvement Visa and Master card have in the Union Pay and MIR cards,, I do not know.. But am guessing the Union Pay and MIR card are convertible with the VISA and Master Card systems.
However when all the articles and data that came out about the BRICS financial system and the payment cards, were about them creating a payment system. There was speculation, but no specific information about the alternative to the SWIFT system. It was thought that the central banks were just morphing into the same drunk party girl with a different dress.. That the BRICS talked a lot but only came up with an alternative payment system.
Well,, there is more to the story that has just manifested..
While China has been busy creating an alternative system allowing for the transactions between Gold, Oil, and the Yuan to be convertible with one another. Also that cross border payments can take place between countries that does not involve the US dollar (do some research on what the petrodollar, or the global default currency system is if you are not aware of this piece).
Two other things happened. First: Russia got a seat on the board of the SWIFT system in 2015. There was a connected Russian entity that was created in the SWIFT system called the ROSSWIFT. Remember the structure of the SWIFT system is a Star networked system.. Meaning there is a central entity and all branches connect to the central entity. One note: Russia gained a seat at the 25 member SWIFT board, AANNDD Hong Kong lost one seat..
Second: Russia has been quietly developing an alternative swift system internally and behind the scenes called ED503 starting in 2014. At some point it was either renamed or transitioned to a system called SPFS. It looks like this was being developed and used internally within Russia for their interbank transaction messaging system (SWIFT alternative).
There is another system called CyberFT (that I just found out about), which kind of looks like will be connected to or replace the SPFS system. I do not have a lot of data about the CyberFT system, but am guessing it will allow for using the Blockchain. As well as the Hybrid Quantum communication devices that are currently being rolled out in Russia. One of the features of CyberFT system is that “Transmitted data is not accessible to the network provider”. There are some really big implications in all of this.
One of which is that if this new CyberFT system is what it seems it is,, it is going to be using the Blockchain. That means it is not just going to be handling the financial transactions.. It is going to be handling the non-securities being put on the blockchain. Like property and land titles, inspections for big equipment like Offshore drilling rigs or large ships, and tracking cargo.. This is still speculation at a behind the scenes look of continuing and significant changes happening..
So if you think things are not looking interesting,, guess again..!
This a comparison chart between SWIFT, SPFS, and CyberFT.
http://cyberft.com/about/comparison