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Re:A quick breakdown of what SWIFT is and why it matters by dogman144 on Friday February 25, 2022 @12:11PM (#30469503)
Numbers on a computer paired with account balancing/settlement protocols, one example being: https://en.wikipedia.org/wiki/Nostro_and_vostro_accounts

When people talk about the manual inefficiencies of finance, it's referring to all this happening in the backend behind the abstraction of quick/automated digital payments in fiat currency. It gets especially complex in international finance, hence SWIFT etc.

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