Today topic is very interesting one. We saw what is happening with our beloved banks and how they are on the verge of collapsing. That was always the plan few banks that will have the most concentration of our money. But don't worry blockchan have a solution for that. That is why I prepered a nice long reading about crypto projects which have similar infrastructure to banks. In this article you can read about what is ICO20022, ICO20022 compliant coins, I will briefly introduce you to the projects and give you some entry levels for this assets. I already prepared an arricles about Ada and Xrp earlier so that is why I will not introduce them in this article but you are welcome to read adout them after reading this one
Ok lets start
What is ICO 20022ISO 20022 is a messaging format that allows adopters to define tags and data through messages. Through this system, the current payment message limit of 100 characters will be increased to around 9000 characters. With this increase, messages will provide information on business processes, payment roles, and business activities to the parties involved. Data is now considered the new form of currency. Data standards typically help to govern what type of data is collected, how the data is structured, and what the data means. In essence, when these data standards are widely adopted, they play a critical role in assisting users in achieving a higher level of automation and much more
That is precisely what ISO 20022 is intended to accomplish. This system will increase transaction speed and efficiency. Furthermore, banks and financial institutions that currently use SWIFT as a messaging system have been requested to adopt ISO 20022. Furthermore, by 2025, ISO 20022 will be the global standard for all banking systems
Benefits of ISO 20022End-to-end data transaction that runs smoothly. Data will be richer, better structured, and more granular through ISO 20022. This ensures an efficient end-to-end payment messaging system.Payments for ExcellenceAnother major benefit of ISO 20022 is that it provides customers with more transparency and remittance information. This will result in a more positive customer experience and service. However, more customers will tend to be drawn toward these payment systems.Better AnalyticsThis system also provides improved analytics while requiring less manual intervention. That means the system can run without any human intervention, increasing the process's accuracy. More importantly, ISO 20022 introduces high-level resilience and fraud-prevention measures.Entire supportOnce the adoption of ISO 20022 is complete, the entire financial market will use a single standard that covers all business domains and the end-to-end business process. Furthermore, ISO 20022 facilitates the creation of new servicesModern TechnologyThis new network makes use of modern XML technology, so it is well supported and can integrate flawlessly with existing systems
2. Top ISO 20022 compliant coins and tokens
Various digital assets, known as ISO 20022-compliant coins and tokens, have significantly impacted cryptocurrency. These virtual currencies not only adhere to a universal global financial standard but also lead the way for transforming how we perceive token transactions within financial systems.
From there on I will introduce you to this cryptocurrencies, write a word or two about them and show you where I am going to grab some more of them. As I was saying at the beginning I will exclude XRP and ADA because I already wrote an article about it. If you want to learn more about ISO20022 coins I encourage you to read this article in which you can learn how they actually work
https://www.cryptopolitan.com/iso-20022-compliant-crypto-list/
Before I start with descriptions of coins and entrys let me tell you that my entry levels are in green and my exit strategy is in red. I will leave some coins if my exit strategy exceed my expectations and for full disclosure I am already an investor on most of them in lover levels
What Is Stellar (XLM)?Stellar (XLM) is a peer-to-peer (P2P) decentralized network created in 2014 by The Stellar Development Foundation or Stellar.org. The network officially launched in 2015 with the purpose of connecting the world's financial systems and ensuring a protocol for payment providers and financial institutions. The platform is designed to move financial resources swiftly and reliably at minimal cost. Stellar links people, banks, payment processors and allows users to create, send and trade multiple types of cryptoAs you can see I have a lot of exit points it is because I always pay myself on the move up so I can come back again at lower levels and maximise my end profit. If nothing else try to remember to always pay yourself it is your hard earned money and nobody went broke paying himself!What Is Algorand (ALGO)?Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable performance guarantees to create new forms of trustWhat Is Hedera (HBAR)?Hedera is the most used, sustainable, enterprise-grade public network for the decentralized economy that allows individuals and businesses to create powerful decentralized applications (DApps).It is designed to be a fairer, more efficient system that eliminates some of the limitations that older blockchain-based platforms face — such as slow performance and instabilityFrom all of them HBAR is one of my favourites and I will be a big buyer at this levelsWhat Is Quant (QNT)?Quant launched in June 2018 with the goal of connecting blockchains and networks on a global scale, without reducing the efficiency and interoperability of the network. It is the first project to solve the interoperability problem through the creation of the first blockchain operating systemI am not involved in this project at all because I noticed last bull run some big YouTubers where pompimg this coin to oblivion and dump it after. Be careful don't be cut into hipe and if I will be interested to buy I will try to buy as low as possible just in case some shenanigans from YouTube will happen again. Stay safeWhat Is XDC Network (XDC)?XDC Network (formerly known as XinFin Network) is a hybrid (public / private) blockchain platform that combines the transparency of public blockchains with the speed and security of private networks. With the help of blockchain technology and state-of-the-art infrastructure, the project intends to provide streamlined financial services to its usersYou can buy it on KuCoin ( be careful they have some problems ), Bybit, Bitget, Bittrex and Gateio just to name some What Is IOTA?IOTA is a distributed ledger technology (DLT) that features unique architecture and an open-source product suite for individuals, businesses, and institutions to use in Web3. It is built on a directed acyclic graph (DAG) called the Tangle, which can be pictured as a multi-dimensional blockchain. It enables the exchange of data and value on a decentralized platform through direct and secure transfers, executed on and immutably recorded on the networkI will start paying myself very early. I've been invested in this project since C-19 and haven't took a lot of profits during the previous bull run. That's why this time I will start earlier What Is Verge (XVG)?Verge is a privacy-focused cryptocurrency and blockchain that seeks to offer a fast, efficient, decentralized payments network that improves upon the original Bitcoin (BTC) blockchain. It includes additional privacy features including integrating the anonymity network Tor into its wallet, called vergePay, and providing the option of sending transactions to stealth addresses.To be totally honest I haven't invest in this project yet but while preparing this article I will put a bit of USDT into this project just because if it hits ATH there will be some nice gains
To conclude I see ISO20022 coins are going to be with us in the future. I don't know which one of them will be the winner maybe some more projects of same infrastructure are going to come in next years because people may start losing their faith in our federal and banking sistem
Hope you enjoyed reading learn something new and tell me if you are involved in any of those projects and whats your favourite
Wherever you are in the world stay GOATED
#ISO20022 #XRP #ADA #XLM #HBAR