The largest banks have created the "ChineseTrack" settlement system for transactions with Chinese counterparties in order to bypass SWIFT and accounts in Western banks and protect themselves from blockages. The essence of the system is that mutual obligations are summed up and offset, and as a result, only one net payment is made, rather than many separate ones.
What is "known": • the system works through a network of intermediaries • intrabank offsets are carried out instead of international transfers • there are financial guarantees and insurance to protect against defaults and delays • The system is already functioning smoothly
It sounds like a closed loop of trust in which the rules are set by the participants themselves. A kind of intranet for international trade, thanks to which banks can offer lower fees due to a simplified architecture.
A successful case for scaling to other destinations: Turkey, Iran, the EAEU and BRICS countries for trading in currencies not pegged to the dollar.
The largest banks have created the "ChineseTrack" settlement system for transactions with Chinese counterparties in order to bypass SWIFT and accounts in Western banks and protect themselves from blockages. The essence of the system is that mutual obligations are summed up and offset, and as a result, only one net payment is made, rather than many separate ones.
What is "known": • the system works through a network of intermediaries • intrabank offsets are carried out instead of international transfers • there are financial guarantees and insurance to protect against defaults and delays • The system is already functioning smoothly
It sounds like a closed loop of trust in which the rules are set by the participants themselves. A kind of intranet for international trade, thanks to which banks can offer lower fees due to a simplified architecture.
A successful case for scaling to other destinations: Turkey, Iran, the EAEU and BRICS countries for trading in currencies not pegged to the dollar.
The initiatives announced by Perekopsky include monitoring the content in groups. According to the executive, posts identified as lacking context or as containing false information will be flagged as a potential source of disinformation. The content is then forwarded to Telegram's fact-checking channels for analysis and subsequent publication of verified information. Telegram channels enable users to broadcast messages to multiple users simultaneously. Like on social media, users need to subscribe to your channel to get access to your content published by one or more administrators. Those being doxxed include outgoing Chief Executive Carrie Lam Cheng Yuet-ngor, Chung and police assistant commissioner Joe Chan Tung, who heads police's cyber security and technology crime bureau. Done! Now you’re the proud owner of a Telegram channel. The next step is to set up and customize your channel. During the meeting with TSE Minister Edson Fachin, Perekopsky also mentioned the TSE channel on the platform as one of the firm's key success stories. Launched as part of the company's commitments to tackle the spread of fake news in Brazil, the verified channel has attracted more than 184,000 members in less than a month.
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