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

ST PETER PORT, Guernsey and NEW YORK, Sept. 23, 2021 (GLOBE NEWSWIRE) — Global Telephony Provider (“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:

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: [email protected]

Interview of Professor Kregel including comments WM’s transfers capacity: 

Research Reports by Professor Kregel on the WM Global Clearing System:

Professor Kregel’s Background and Biography

WM’s urls (Tablets / Laptops / Desktops) (Smart Phones) (Pre-Smart Mobile Phones)

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