Hi everyone, > the SWIFT system (international message system for financial > institutions) works quite strangely - instead of wires going from one > bank to another, they first go to your banks correspondent bank, then > to receiver banks correspondent bank and then to receiver bank. There > could be more links in that chain.
It's actually quite logical when you think about it, although it is crazy in this electronic age. If wires went straight from bank to bank then they would be the equivalent of digital cash or e-gold. Either that or it would also mean every bank in the world would have to trust every other bank's word, which is obviously not practical, viz Argentina. SWIFT is a secure telex system based on public key encryption, nothing more. It has exactly the same affect as sending around PGP-signed emails. It doesn't actually allow you to move any money. Nick Fidex --- You are currently subscribed to e-gold-list as: [email protected] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
