Countries struggle to build effective alternatives to SWIFT because established financial networks require decades of trust-building, and even major efforts like Russia's SPFS (500-600 institutions) and China's CIPS (3% of SWIFT's volume) fail to achieve comparable adoption due to the fundamental challenge of establishing global trust and institutional confidence in new payment systems.
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Why building a new SWIFT is impossible #finance #geopolitics #moneyexplainedAdded:
Why don't countries just build their own Swift? They tried. Russia built SPFS.
500 to 600 institutions. Swift has 11,500 institutions.
China built CIPS.
Handles 3% of Swift's volume.
Worse, still uses Swift's infrastructure.
BRICS talks about alternatives, but can't agree on who controls it. Which currency backs it? How to make the world trust it? Trust is the product. Trust takes decades. America built Swift's trust over 50 years. Nobody's catching up. Do subscribe and like for more videos like this.
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