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XRP or XLM, Which is Best to Replace SWIFT? Grok AI and ChatGPT Share Shocking Results ...Middle East
AI models from xAI and ChatGPT, developed by OpenAI, suggest that the most suitable blockchain networks to replace SWIFT are the XRP Ledger and Stellar (XLM), securing mentions. Notably, proponents already see blockchain as a potential alternative to SWIFT, the long-standing cross-border messaging system that connects over 11,000 financial institutions worldwide. SWIFT, despite its reliability and vast network, suffers from high fees, slow transaction times, and centralization vulnerabilities. Recently, we asked AI chatbots Grok and ChatGPT to present what they believe could be the best blockchain to replace or complement SWIFT. Grok AI Picks XRP Ledger In response, Grok evaluated multiple blockchains using important criteria such as transaction speed, cost, scalability, security, interoperability, adoption, and regulatory compliance. Notably, Grok concluded that the XRP Ledger is the most suitable blockchain to replace SWIFT. Grok AI Picks XRP LedgerGrok AI Picks XRP Ledger It highlighted the network's strengths. According to the chatbot, transactions on the XRP Ledger complete in 3 to 5 seconds, far quicker than SWIFT's 1 to 5-day processing window. In addition, costs are minimal, with fees amounting to just fractions of a cent compared to SWIFT's $15 to $50 per transaction. Moreover, Grok noted that the network processes around 1,500 transactions per second. Importantly, the Ripple Payments service, boasting over 300 institutions including Santander, Standard Chartered, and American Express, also shows massive traction in the finance scene. Grok also stressed that the XRPL is interoperable with traditional banking systems, with a reduced risk of central point failure due to its decentralized validator network. However, the AI chatbot cautioned that ongoing regulatory scrutiny, particularly the SEC's lawsuit in the U.S., and Ripple's smaller institutional network compared to SWIFT could be potential hurdles. However, the lawsuit might be close to an end at press time. Stellar, a Close Second Meanwhile, Stellar (XLM) came in a close second, with Grok noting its impressive transaction speeds (2–5 seconds) and near-zero fees (around 0.00001 XLM). Stellar supports around 1,000 transactions per second and has secured integration into projects like IBM's World Wire and MoneyGram. Grok Mentions StellarGrok Mentions Stellar Further, fintech startup Lightnet, backed by $31.2 million in funding, is leveraging Stellar to build a SWIFT alternative for Asia. According to Grok, while institutional adoption lags behind Ripple's, Stellar's push into emerging markets and remittance channels makes it a strong complementary or regional alternative. Other Platforms Grok also highlighted three other platforms, Hedera Hashgraph, Ethereum with Layer-2 scaling, and the XDC Network, as complementary technologies. For instance, Hedera boasts high throughput (10,000 TPS), strong security through aBFT consensus, and backing from giants like Google and IBM. Also, it noted Ethereum's smart contracts and institutional pilots using Layer-2s like Arbitrum and Optimism, though its high base fees and slower speeds are concerns. Grok also identified XDC, with ISO 20022 messaging compatibility and a trade finance focus, as a potential complement for niche financial systems. Grok SummaryGrok Summary ChatGPT Also Chooses XRPL Responding to the question, ChatGPT clarified that SWIFT is not a payment system but a secure messaging network. However, to replace or enhance SWIFT, the AI chatbot said a blockchain must meet six critical standards: global interoperability, high security, speed, regulatory compliance, privacy, and operational reliability. ChatGPT Mentions XRPL and StellarChatGPT Mentions XRPL and Stellar Interestingly, the XRPL again emerged as the top candidate in ChatGPT's assessment. According to ChatGPT, the Ripple Payments network is already functioning globally, connecting hundreds of banks and financial institutions. Its messaging layer and instant settlement via XRP make it uniquely suited to replace SWIFT's legacy infrastructure. It pointed to live implementations through major institutions like Santander and SBI Holdings as proof that the XRPL technology is already showing how it could replace SWIFT. Stellar Secures Honorable Mention Meanwhile, Stellar also emerged as an option for its ability to facilitate fast, low-cost international payments. ChatGPT noted Stellar's strong performance in remittances and real-time currency exchange, with IBM's World Wire and select banks actively using the platform. However, ChatGPT acknowledged that Stellar's presence among large institutions is still relatively modest compared to Ripple. Overledger, Ethereum, and Corda Interestingly, ChatGPT also noted Quant's Overledger Network as a potential SWIFT replacement due to its focus on interoperability. Quant's role in bridging blockchain with legacy systems made it stand out in banking-grade deployments. It noted Quant's engagement with central banks and financial enterprises as a sign of its real-world relevance. Further, ChatGPT recognized Ethereum's private and permissioned variants, such as ConsenSys Quorum, as strong complements to SWIFT. For context, JPMorgan and others are already exploring these setups for cross-border payments and tokenized asset transfers. ChatGPT SummaryChatGPT Summary In addition, ChatGPT mentioned Corda (by R3) and Hyperledger Fabric for their enterprise-grade capabilities. However, it mentioned them primarily as complementary solutions rather than full replacements. Essentially, while both AI chatbots evaluated multiple blockchains, they identified XRP Ledger as the most viable replacement for SWIFT.
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