Comparing the messaging-based transfer models of SWIFT with the state-transition atomic settlement models of DLT networks.
| Feature | SWIFT Messaging Network | DLT / Blockchain Networks |
|---|---|---|
| Transfer Model | Messaging-based (instructs bank to debit/credit) | State-transition (asset moves on a shared ledger) |
| Settlement Speed | T+1 to T+3 days (requires correspondent banks) | Atomic, T+0 (settles in seconds 24/7/365) |
| Reconciliation | High (each bank maintains its own ledgers) | Zero (single shared record of truth) |
| Standards | ISO 20022 XML, legacy MT formats | Smart Contract standards (ERC-20, Canton API) |