The SWIFT system is nothing but a giant antiquated fax machine.

I recently watched a documentary called billion dollar heist about the bangladesh central bank being robbed of one billion dollars.

https://youtu.be/4zv56MUXgw8?feature=shared

Its an interesting account of the events of that robbery, but the funniest thing was when they showed how the SWIFT system for transferring money around the world is nothing but a giant antiquated printer that literally prints out paper messages of money transfers.

The central bank system we use for transferring money around the world is nothing but a giant fax machine that sits in the office of a central bank.

How is it 2023 and we live in a world where bitcoin can transfer money anywhere instantly and for free, but central banks use an antiquated fax machine to send money around the world that takes days if not weeks to arrive.

Banks are a joke at this point.