XLM or XRP, Which Is Best SWIFT Replacement? ChatGPT and Grok Make Shocking Statement

Artificial intelligence models from xAI and OpenAI have independently assessed which blockchain networks are best positioned to replace or complement the Society for Worldwide Interbank Financial Telecommunication (SWIFT), a system that has long served as the backbone of international financial communication. Their evaluations consistently highlight the XRP Ledger and Stellar (XLM) as standout candidates. SWIFT connects over 11,000 financial institutions across the globe, but it faces criticism for high transaction fees, slow processing times, and its centralized infrastructure. As interest in blockchain-based alternatives grows, both Grok AI and ChatGPT examined the capabilities of several platforms based on essential metrics such as transaction efficiency, interoperability, adoption rates, and regulatory compatibility. XRP Ledger Named Leading Option by Grok AI According to Grok’s analysis , the XRP Ledger ranks as the most practical blockchain to serve as a SWIFT replacement. It cited XRPL’s rapid settlement times, typically between three and five seconds, and extremely low transaction costs, which are just a fraction of a cent. This marks a significant improvement over SWIFT’s average processing time of one to five business days and its fees, which can range from $15 to $50 per transaction. Additionally, Grok highlighted XRPL’s processing capacity of approximately 1,500 transactions per second, supported by Ripple’s growing payments ecosystem. RippleNet currently includes over 300 financial institutions such as Santander, Standard Chartered, and American Express, suggesting real-world traction in cross-border finance. Grok also emphasized XRPL’s compatibility with legacy financial systems and its decentralized validation system, which reduces the risks associated with centralized control. Nonetheless, it noted that unresolved regulatory issues, especially in the United States, along with a smaller institutional user base compared to SWIFT, may present short-term limitations. Stellar Recognized as a Strong Secondary Option Stellar (XLM) received recognition as a viable alternative, particularly for regional and remittance-focused applications. Transactions on the Stellar network typically settle within two to five seconds, and transaction costs are negligible, averaging around 0.00001 XLM. The network handles about 1,000 transactions per second and has been integrated into several prominent initiatives, including IBM’s World Wire and MoneyGram. Grok pointed out that while Stellar’s institutional reach does not yet rival Ripple’s, the platform’s adoption in emerging markets and among fintech firms, such as Lightnet, which aims to modernize payments in Asia, underscores its potential. Other Blockchain Platforms Considered Grok also identified Hedera Hashgraph, Ethereum (with Layer-2 scaling), and the XDC Network as supplementary technologies rather than full replacements. Hedera offers impressive transaction throughput (up to 10,000 TPS) and utilizes an asynchronous Byzantine Fault Tolerant (aBFT) consensus mechanism. It is supported by organizations like Google and IBM. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Ethereum was acknowledged for its smart contract capabilities, especially in Layer-2 environments like Arbitrum and Optimism, though concerns were raised about its higher transaction fees and latency. The XDC Network was noted for its alignment with ISO 20022 standards and focus on trade finance. ChatGPT Also Endorses XRPL OpenAI’s ChatGPT reached a similar conclusion, noting that any platform aiming to replace SWIFT must excel in areas such as global interoperability, security, speed, compliance, privacy, and reliability. It identified the XRP Ledger as a frontrunner due to its integrated messaging and settlement functions, as well as its ongoing use by institutions such as Santander and SBI Holdings. ChatGPT acknowledged that XRPL is already demonstrating its capabilities as an operational alternative to traditional systems, citing its widespread financial network and performance under real-world conditions. Stellar and Other Solutions Highlighted Stellar was again acknowledged for its strengths in facilitating quick, affordable international transfers. ChatGPT emphasized its active use in remittances and currency exchange but noted its more limited institutional reach compared to Ripple. Other technologies that ChatGPT mentioned include Quant’s Overledger, which enables interoperability between blockchains and legacy systems, as well as private Ethereum implementations like ConsenSys Quorum, currently being tested by institutions including JPMorgan . Corda by R3 and Hyperledger Fabric were also referenced for their enterprise-level applications, though ChatGPT categorized them more as complementary systems. Both AI models concluded that the XRP Ledger is the most suitable blockchain platform to replace or enhance SWIFT, with Stellar standing as a credible secondary option. While other technologies offer specialized capabilities, XRPL’s current adoption, transaction efficiency, and alignment with institutional needs place it at the forefront of potential blockchain-based alternatives for cross-border financial messaging. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post XLM or XRP, Which Is Best SWIFT Replacement? ChatGPT and Grok Make Shocking Statement appeared first on Times Tabloid .

Source: TimesTabloid