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From Ripple has a competitor

GPI was a serious rival of the startup.

19.Apr.18 1:20 AM
By Anna Bezrukova


From Ripple has a competitor
A number of online media reported that the blockchain startup Ripple from the United States had a rival. We are talking about the global payment initiative Global Payments Innovation, GPI. The project was developed by employees of the international interbank system of information transfer and payment SWIFT. Thanks to the new technical solution, payments are made more quickly, and transactions have become more transparent.

GPI is a standard for international settlements. It helps to increase the speed and transparency of payments by detailing the information. Thus, the system contains fields about the status of payment (executed/rejected), date and time of receipt of compliance, execution of payment and other information. The GPI is embedded in the running SWIFT schema.

Among other things, the platform offers interbank payment system services. SWIFT has already appealed to banks from Russia to support the project. Today, six credit institutions of our country have joined GPI. In particular, it is Alfa-Bank, which launched client payments using the new standard.

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