Swift Sees Value in Reusing Reference Data Standards

Messaging standards body seeks to leverage bread-and-butter activity for distributed ledger and smart contract uses

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Messaging standards cooperative Swift seeks to make inroads into distributed ledger technology

Reusing reference data standards and business content from messaging standards, even without formal methodology for such actions, can provide value, according to an informational paper issued by messaging standards cooperative Swift.

ISO 20022, the global financial messaging standard, and ISO 17422, the standard for legal entity identifiers, enable the creation of robust and interoperable processes between multiple parties, according to the report, entitled "Distributed Ledgers, Smart Contracts

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