Two Fully Operational and Globally Accessible Alternatives to the Swift System Now Available Worldwide

Thursday, 23. September 2021 13:05

ST PETER PORT, Guernsey and NEW YORK, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Global Telephony Provider Webtel.mobi (“WM”) – whose TUV Digital Currency potentially renders current Cryptocurrencies redundant and potentially supersedes CBDCs – has also recommenced the unrestricted global operations of its two alternative systems to SWIFT.

These two WM Facilities – its ICLM Transfers and TUV Digital Currency Transfers – are geared for a 21st Century Digital Economy, and not hamstrung by the multiple technical constraints and layers of intermediaries which plague the decades-old legacy systems. An overview of some of their characteristics is as follows:

REQUIRED CHARACTERISTICSWIFT TRANSFERSICLM TRANSFERSTUV TRANSFERS
Carry out Global Transfers WorldwideYesYesYes
Compliant with Applicable RegulationYesYesYes
Account Holders In Control of TransferNoYesYes
Transfer Initiated from any Mobile PhoneNoYesYes
Transfer Initiated from any LocationNoYesYes
Transfer Initiated at any time of any dayNoYesYes
Transfers and Receipt function 24/7/365NoYesYes
Transferor can do own FX ConversionNoYesYes
Recipient can do own FX ConversionNoYesYes
Transfers Instant in 1/100th of a SecondNoYesYes
Receipt is Instant in 1/100th of a SecondNoYesYes
Instant Confirmation to All PartiesNoYesYes
Real-Time Records and HistoryNoYesYes
Centrally Controlled WorldwideNoYesYes
Worldwide Uniform Standards & SecurityNoYesYes
Functions PP2P with No IntermediariesNoYesYes
Can be Accessed and Used by UnbankedNoYesYes
Free to have an AccountNoYesYes
Free of Bank Fees for TransferNoYesYes
Free of Intermediary Fees for TransferNoYesYes
Totally Free TransfersNo0.25% to 1%Yes

To construct a working and compliant Digital Currency that functions on a global basis, it is not sufficient to create only the Digital Currency itself. A Digital Currency without the means or capacities for global accessibility, acceptability, transferability, receipt, security, multicurrency convertibility, real-time multicurrency gross settlement, total transaction recording and multicurrency redemption is useless in and of itself.

To achieve these capacities, WM has constructed not just a Global Digital Currency similar to the “Bancor” proposed by English Economist John Maynard Keynes, but also a Global Clearing System – similar to the International Clearing Union as also proposed by Keynes.

A prerequisite for any Global Clearing System is the capacity for international transfers that includes all the capacities as previously listed, and many more. Consequently, as part of its Global Clearing System, WM constructed its ICLM Transfers Facility – a multicurrency instant global transfer system for its Members’ Stored Credit; and its TUV Transfer system – that facilitates instant global transfers of its Members’ TUV Digital Currency.

As with the TUV Digital Currency – WM’s Facilities are not new or untested. They have been fully tested in operational usage worldwide for nine years, and fully due diligenced on multiple occasions during that time. The only material change in Q3 2021 is that WM is making these facilities available for unrestricted global operations – as opposed to being available to a restricted user group only.

SWIFT – and all other legacy International Transfer systems that primarily run off the SWIFT System – are, like WM, in the Telecommunications Sector. The difference between them is that the legacy systems were built many decades ago, and attempt to keep up with technological advances by continuously patching their ageing systems, and relying on increasingly larger layers of costly intermediaries to function.

In contrast, WM’s Platform 2 is built to 21st Century specifications, and is powered by an Artificial Intelligence system. It consequently carries out transfers in 1/100th of a second, at ultra-low to zero costs, 24/7/365, as a unitary global system with no intermediaries.

Moreover, in 60% of countries worldwide, National transfers within countries are as slow and as costly as legacy system International transfers. The cumulative volume and value of National transfers is also higher than the several Thousand Trillion Dollars per annum volume of SWIFT and all the other legacy International transfer systems combined.

As WM’s ICLM Transfers and TUV Digital Currency Transfer Systems are able to be used for National transfers within countries in the same way and with the same advantages as for International transfers, both International and National transfers markets are seen as growth markets for WM.

Media Contact:
Nick Lambert: wm@thoburns.com

Interview of Professor Kregel including comments WM’s transfers capacity:
https://youtu.be/XYBrCikUhn8 

Research Reports by Professor Kregel on the WM Global Clearing System:
https://tinyurl.com/TUVresearch

Professor Kregel’s Background and Biography
https://www.levyinstitute.org/scholars/jan-kregel
https://inctpped.ie.ufrj.br/internationalconference2018/Jan_Kregel_cv.pdf

WM’s urls
https://webtel.mobi/pc (Tablets / Laptops / Desktops)
https://webtel.mobi (Smart Phones)
https://webtel.mobi/wap (Pre-Smart Mobile Phones)


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