UK Markets open in 3 hrs 16 mins
  • NIKKEI 225

    29,100.57
    +500.16 (+1.75%)
     
  • HANG SENG

    26,047.85
    -84.18 (-0.32%)
     
  • GOLD FUTURES

    1,805.20
    -1.60 (-0.09%)
     
  • DOW

    35,741.15
    +64.13 (+0.18%)
     
  • BTC-GBP

    45,557.38
    +304.27 (+0.67%)
     
  • CMC Crypto 200

    1,507.08
    +1,264.41 (+521.02%)
     
  • Nasdaq

    15,226.71
    +136.51 (+0.90%)
     
  • ^FTAS

    4,117.93
    +9.02 (+0.22%)
     

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

·4-min read

WM’s ICLM Transfers and TUV Digital Currency Transfers provide two fully operational and globally accessible Alternatives to SWIFT

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 CHARACTERISTIC

SWIFT TRANSFERS

ICLM TRANSFERS

TUV TRANSFERS

Carry out Global Transfers Worldwide

Yes

Yes

Yes

Compliant with Applicable Regulation

Yes

Yes

Yes

Account Holders In Control of Transfer

No

Yes

Yes

Transfer Initiated from any Mobile Phone

No

Yes

Yes

Transfer Initiated from any Location

No

Yes

Yes

Transfer Initiated at any time of any day

No

Yes

Yes

Transfers and Receipt function 24/7/365

No

Yes

Yes

Transferor can do own FX Conversion

No

Yes

Yes

Recipient can do own FX Conversion

No

Yes

Yes

Transfers Instant in 1/100th of a Second

No

Yes

Yes

Receipt is Instant in 1/100th of a Second

No

Yes

Yes

Instant Confirmation to All Parties

No

Yes

Yes

Real-Time Records and History

No

Yes

Yes

Centrally Controlled Worldwide

No

Yes

Yes

Worldwide Uniform Standards & Security

No

Yes

Yes

Functions PP2P with No Intermediaries

No

Yes

Yes

Can be Accessed and Used by Unbanked

No

Yes

Yes

Free to have an Account

No

Yes

Yes

Free of Bank Fees for Transfer

No

Yes

Yes

Free of Intermediary Fees for Transfer

No

Yes

Yes

Totally Free Transfers

No

0.25% 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)


Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting