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.
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