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The Swiss Secure Finance Network (SSFN) and its significance for Switzerland - A central bank perspective

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The Swiss Secure Finance Network (SSFN) and its significance for Switzerland - A central bank perspective
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The Swiss National Bank & SIX on SCiON adoption
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16
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CC Attribution - NonCommercial - NoDerivatives 2.5 Switzerland:
You are free to use, copy, distribute and transmit the work or content in unchanged form for any legal and non-commercial purpose as long as the work is attributed to the author in the manner specified by the author or licensor.
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Why is the SSFN crucial for the Swiss financial sector according to the Swiss National Bank? Dr. Andrea Maechler, a member of the Governing Board for the Swiss National Bank (SNB) and head of information technology, describes the SSFN as crucial for maintaining trust in the financial sector, by making transactions secure, flexible, and reliable. The SSFN allows the Central Bank to ensure that every actor in the financial sector, even the smallest banks, communicate in a secure and economically feasible way. For example, how SCiON enables us to pay instantly, as fast as sending a whatsapp message, instead of it taking 2 days. To install such an instant payment system requires incredibly secure cyber infrastructure, which the SSFN can provide.