Fedwire processed over a quadrillion dollars worth of settlement volume last year, at an average pace of about 6 transactions per second.
Technically about 9 transactions per second on business days, and then closed during weekends and holidays.
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I'm sure someone over there will propose bigger blocks of cubicles so that their back office can process more transactions per year.
what of the size of their database?
Sounds like bitcoin could replace that process, considering its tx/sec.
Is there a particular focus of discussion digging into with this? Curious if we’re just saying BTC transactions are fine as is, and/or challenging the need for other systems along side it.
Some 104M transactions during 2023 by ECB Target (
European Central Bank
TARGET Annual Report 2023
The European Central Bank (ECB) is the central bank of the European Union countries which have adopted the euro. Our main task is to maintain price...
That sounds awfully monopolistic
Wow. What was bitcoin's total value USD trades settled in 2023? What would the impact be if the value of those trades had to be settled on bitcoin? If all that fiat had to flow through the bitcoin network using available sats then the value of bitcoin would have to increase dramatically?