During 4 days in October top international financial players gathered at Metro Toronto Convention Center for SIBOS2017—one of the biggest annual events for the industry, organized by SWIFT. However, at the same time another conference took place in the city: SWELL2017 by Ripple.
With banks, tech firms, corporate treasurers and speakers of the caliber of Dr Ben Bernanke, 7th chairman of the US Federal Reserve System, participating in the three-day Swell event in the Distillery District of Toronto, it could be seen as a potentially rivalrous gathering.
Hermes bank representatives, who took part in SIBOS2017, were also invited to participate in a number of Swell events as well:
«One of our goals at Toronto was to establish working contacts with two major providers of blockchain technology for banks: Ripple and Stellar. We will be exploring their current capabilities and talking to their current network of banks to gain their insights»—said Hermes bank deputy general manager Jeanelle Williams.
Hermes bank VP, Mr. Pantelis Pierides took part both in SWELL2017 event, as well as in series of meetings with what widely believed to be a more feasible and technologically advanced alternative to both SWIFT and Ripple—Stellar, headed by non other than Jed McCaleb, it’s co-founder. Over two days they have discussed co-operation possibilities, as well as further role of Stellar as potential SWIFT substitute in conjunction with IBM currently running its HyperLedger-based RTGs project through a number of pacific islands, including Vanuatu, Fiji, etc.
At the moment Stellar and IBM partnership is fully operational and covers major transactional needs of banks in Australia, New Zealand as well as small island-states like Fiji, Tonga, Vanuatu, including cross-currency operations.
Hermes Bank Limited
1 Bella Rosa Road,
Rodney Bay
BW Box 332, Gros Islet
Saint Lucia, W.I.
Tel: +1 758 451 2265
Tel: +44 121 740 0128
Fax: +44 131 464 0321