SIBOS is over. After 2 years of virtual meetings it was real face to face communication now. It is a pleasure to meet friends from around the globe to exchange ideas, deliver important messages, make plans for the future and talk in person to SWIFT management.
SIBOS was and is the place, where you can meet your colleagues and meet new partners for business. The world became so small place to be that you can meet in Amsterdam your friends and colleagues from Kyiv whom you haven't met for a long time and meet people from the whole globe in person to discuss the future of finance in constantly evolving world.
For Ukrainians now the major challenge is to survive russian genocidal war of terror against Ukrainian people and defend the world from russism. Taking into account all russian public warnings to wage a war against free world using even nuclear weapons, the only way to survive for our planet is to completely destroy russian military, rebuild independent Ukraine, as well as to free all peoples imprisoned in the Russian Federation (RF).
The planned EMEA SWIFT Alliance (ESA) meeting was held in Amsterdam, and I had a privilege to thank ESA members in the name of Ukrainian SWIFT community for continuing support and for expelling Russian Federation from ESA, which followed to the withdrawal of russian representative from the SWIFT Board.
In UkrSWIFT we are always asked: when RF will be disconnected from the SWIFT network? As of today SWIFT, as a Belgium registered cooperative is referring to the SWIFT "neutral" status following strictly European sanctions on Russia. Seven russian banks out of 300 were disconnected from the network. Some new russian banks were connected to SWIFT since large scale invasion of RF in Ukraine.
Russia launched the system SPSF in 2014 to substitute SWIFT, as it was evident for the RF that it will be disconnected from the SWIFT network for the crimes it supposed to undertake. Unfortunately, still majority of russian banks are connected to SWIFT and RF is stealing technologies from SWIFT.
As USA did not consider RF as a terrorist state contrary to all the evidence and did not sanction russia with disconnection from SWIFT, so SWIFT cooperative still has RF as a member country. All progressive people hope that this will change soon.
During SIBOS participants observed with horror how russist terrorists started to methodically kill Ukrainian people and destroy Ukrainian civil infrastructure with Iranian drones. We do not know how RF paid Iran for those drones. Hopefully, SWIFT network was not used for drone deal trade finance of russian terrorist state, but when RF will be disconnected from SWIFT there will be definitely no doubts.
ISO 20022 standard of financial communication is becoming practical reality opening new possibilities to unfold huge potential of rich data and making straight through processing seamless. New technologies making possible to exchange value in seconds as it was possible with handing over banknotes.
Not only speed and reliability of value exchange are increasing, but also ability of financial system to fight terrorism, money laundering, and fend off cyber criminals is vastly expanding with rich and structured data. All these instruments are useful when people lose fear of criminals and terrorists and start using new technology effectively and purposely to stop terrorist activity and prosecute criminals.
ISO 20022, CBDC, API, cloud based open banking solutions are very useful to use in a new reality of the world financial system serving the war economy to isolate criminals and publicly prosecute them to bring peace to our planet as soon as it will be practically possible.
We all are looking forward to meet next year in SIBOS in Toronto with new representatives from the new peaceful countries from the RF's postcolonial space.
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