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Getting ISO2022 Over The Line
July 14, 2023
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The ISO 20022 migration weekend of 18–19 March came and went with minimal disruption for clients. Behind the scenes, however, a major internal project was in progress. flow reports on how Deutsche Bank tackled the Herculean task, and the lessons learnt along the way.

Over the past five years, banks, corporates and other major financial stakeholders have been hard at work preparing for the migration to ISO 20022 – the new global messaging standard for high-value and cross-border payments. The project, which provides the foundation for enhanced customer experience, streamlined compliance procedures and a host of innovative services, has been billed as the most impactful payments industry undertaking since the introduction of the Single Euro Payments Area (SEPA) more than a decade ago.

The enormity of this change cannot be overstated; the entire payments industry, including 11,000 banks worldwide, is being rewired so that valuable payment data can be captured in the new fields within the ISO 20022 standard and serve multinational corporate clients and payment services providers – and their customers – with improved speed, information, security and financial crime prevention.

Following various delays along the way, the ISO 20022 era has now successfully begun.

 

The journey begins

Over the ‘migration weekend’ of 18–19 March 2023, the global banking community started the process of moving to the new standard. This date marked a significant milestone not only for the correspondent banking space, but also for communities in Australia (RITS), Canada (LYNX), Europe (EURO 1 and T2) and New Zealand (ESAS), whose Payment Market Infrastructures also migrated to the new standard for high-value payments.

As part of this transition, the European Central Bank’s Target 2 market infrastructure took a step forward in its consolidation journey (RTGS, TIPS and Securities) and introduced central liquidity management, resulting in a completely new account structure being needed for Deutsche Bank AG Frankfurt and all EUR-currency branches.

Migration activities continued on 19 June 2023, when the Bank of England (BoE) began its transition process. From this date, all direct participants of CHAPS – the BoE’s high-value payment system – needed the ability to receive enhanced ISO 20022 payment messages using only the enhanced XML message schemas. The BoE is also working on a new RTGS core settlement engine, which is set to go live in summer 2024.

Antonios-Tzouvaras-310x167“The introduction of ISO 20022 has been a massive change for Deutsche Bank” Antonios Tzouvaras, ISO 20022 Business Tribe Lead, Deutsche Bank

Further migrations, such as those in the US, lie ahead, as well as the end of the coexistence period in the cross-border space in November 2025, but now is an opportune moment to reflect on what has gone well so far, and to identify lessons for the future.

 

A Herculean task

“The introduction of ISO 20022 has been a massive change for Deutsche Bank, not least because we took this opportunity to architecturally transform internal payment processing front-to-back, to add business value and set up the bank for the future,” says Antonios Tzouvaras, the bank’s ISO 20022 Business Tribe Lead.

 

“As with any project of such magnitude, the post-migration days have been no walk in the park, with teams continuing to work around the clock to limit the risk for negative cash management and client implications,” adds Christopher Gardner, ISO 20022 Technical Tribe Lead, Deutsche Bank.

The project involved hundreds of colleagues across numerous locations and functions, including technology, business, operations, treasury, AFC, country managers and more. For the migration weekend, Deutsche Bank established its #OneTeam onsite command centre with operations, technology, data and innovation (TDI), product and treasury in Eschborn, Germany, working borderless with strong collaboration front-to-back across all functions and a proactive flow of information between local cash operations and the central hub.

In summary, Deutsche Bank accomplished the following:

  • Introduced changes to more than 100 impacted applications within the bank
  • Performed high-volume testing with more than 20 industry partners before the migration start
  • Implemented the new standard ahead of the official start date as part of the “early adoption phase”
  • Trained more than 3,000 colleagues and implemented external communication channels, including a series of guides, dedicated website, video tutorials, webinars, blogs, etc.
  • Migrated 36 Deutsche Bank countries to the new Swift ISO 20022 messaging standard.
Christopher-Gardner-310x167“The industry migration to ISO 20022 has been a story of success”Christopher Gardner, ISO 20022 Technical Tribe Lead, Deutsche Bank

Post-migration learning points

“Looking back to 2019, when the project was first conceived, to where we are now, having processed millions of client transactions in the new standard, it is fair to say that the industry migration to ISO 20022 has been a success,” says Gardner. “That is, however, not to say that it was without a few teething issues in the early days.”

He explains that although the switch-over was smoother than anyone in the industry might have expected, the remaining issues have become lessons for the future:

1) Unexpected data received:
Incorrect formatting of incoming payment instructions hindered straight-through processing of transactions, although quick diagnosis of the problem and recapturing of such payments has proved helpful.

2) Interoperability concerns:
Given that ISO 20022 will be used alongside the legacy messaging standard until November 2025, the bank can handle both standards. However, the procedures for these two standards are not interchangeable, leading to various issues in payments processing. Industry alignment and collaboration on this topic has been important for the creation of workarounds.

3) Internal processing issues:
Complexity of infrastructure has created several challenges in payments processing, but the end-to-end view of a transaction across the systems has proved invaluable in this exercise.

Looking forward, further migrations need to be addressed, such as the migration of The Clearing House’s (TCH) high-value payment system CHIPs in April 2024. Further focus is also needed on the implementation of the additional message types and processes to complete the transition, which will be tackled on the SWIFT network later this year or in 2024.

“After the huge initial implementation effort, now is the time for institutions and market participants to continue to pick up the pace by adopting enhanced data requirements and implementing new capabilities,” Tzouvaras concludes. “Only then can the full promise of ISO 20022 be unlocked.”

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The Quiet Revolution in Bittensor

This past week (April 13–19, 2026) wasn’t just another cycle of subnet drama and $TAO price noise.

Three major developments landed almost back-to-back that, when viewed together, paint a far bigger picture than most participants are seeing right now.

Bittensor is steadily transitioning from a speculative incentive network into production-grade decentralized AI infrastructure that enterprises, researchers, and real users are beginning to plug into directly.

Most eyes remain fixed on emissions, governance changes like BIT-0011, or short-term token flows. But the deeper shift happening underneath is structural. These three developments show Bittensor subnets creating tangible value across enterprise physical AI, frontier training scalability, and consumer-facing uncensored models in ways that can compound over years, not hype cycles.

  1. Score (Subnet 44) + Manako Labs Secures PwC France & Maghreb Alliance:

 

This was one of the clearest institutional validation moments the ecosystem has seen so far.
@manakoai, the commercial product layer built on @webuildscore decentralized computer vision network, took first place at Start in Block, beating more than 1,000 startups at the Louvre during
 
Around the same time, @PwC_France & Maghreb announced a strategic alliance to integrate Manako’s Business Operations World Model into its AI and digital advisory practice. PwC isn’t some small crypto-friendly firm. They are a $57B revenue global giant serving 82% of the Fortune Global 500. Reports indicate they spent months on technical and legal due diligence before deciding to move forward with deployment opportunities across retail, manufacturing, logistics, energy, and infrastructure.
 
The key capability is powerful: transforming existing enterprise camera systems into real-time physical AI decision networks without requiring companies to rebuild their entire operational stack.
 
The Bigger Picture Most Aren’t Seeing: This does not look like a one-off pilot or marketing headline. It could represent one of the first real on-ramps for Big Four consulting firms to distribute decentralized AI infrastructure to enterprise clients at scale. If successful, this creates:
 
▫️Recurring enterprise demand
▫️Regulatory credibility
▫️Higher-quality commercial usage
▫️Long-term trust in Bittensor infrastructure
 
That type of adoption cannot be replicated by retail hype alone.
 
2. Macrocosmos (Subnet 9 / IOTA) Releases ResBM: 128x Activation Compression
 
 
While enterprise headlines captured attention, @MacrocosmosAI quietly released its ResBM (Residual Bottleneck Models) research paper. The breakthrough demonstrated state-of-the-art 128x activation compression in pipeline-parallel training while maintaining near-zero loss in convergence, memory efficiency, or compute overhead. This is highly relevant because it is designed for low-bandwidth, internet-scale distributed training, the exact type of environment decentralized networks must solve for.
 
Why This Matters Long-Term:
 
The biggest barrier to truly decentralized frontier model training is not only GPU access. It is bandwidth and communication cost when massive models are split across many machines. Centralized labs solve this using expensive proprietary interconnects inside hyperscale data centers. ResBM attempts to attack that problem directly. What many miss is that this tech moat positions Subnet 9 (@IOTA_SN9), and Bittensor’s pre-training layer more broadly, as a viable alternative for the next wave of open-source models. As training demands continue to rise, the ability to scale efficiently without centralization could become a compounding strategic advantage.
 
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• Vision support
• 4x larger context window
• Stronger tool use
• Minimal refusal behavior after extensive testing
 
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The Underappreciated Angle Targon’s confidential compute layer is showing it can support real model training workloads for production applications.
 
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▫️End-user demand
▫️Subnet emissions
▫️Compute utilization
▫️TAO-linked ecosystem value
 
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▫️Technical scalability (SN9): Solving the hard physics of decentralized training.
▫️Product-market pull (SN4): Shipping usable AI to everyday users who value freedom and privacy.
 
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▫️ Growing consumer usage
 
This week showed resilience and forward momentum.
 
Big Four validation, meaningful research breakthroughs, and live products all point to one thing: The vision is becoming real.
 
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The pieces are moving.
 
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📈Bittensor ($TAO) Staking📈
Learn how to stake your TAO and earn potential rewards.

Decentralized staking

Staking TAO tokens lets you earn rewards by supporting the Bittensor network. In return, you receive a share of the staking rewards.

Source: Taostats

In the Bittensor (TAO) ecosystem, there are two main ways people can stake their tokens: Root staking and Alpha staking. These represent two different strategies, with different levels of risk and reward.

Root staking was the first method introduced when Bittensor launched. It allows users to lock up their TAO tokens in the core part of the network (now called Subnet 0) to earn steady, “predictable” rewards. It's straightforward and carries less risk, making it a good fit for early users or anyone who prefers a more passive, steady approach. In essence, this is the “traditional” form of token staking seen in many crypto projects. Rather than simply holding your tokens, you delegate them to validators who help run and secure the network on your behalf.

Source: Taostats.io

Later, on February 13, 2025, Alpha staking was introduced as part of a major network upgrade called Dynamic TAO (dTAO). This upgrade created subnet-specific tokens called Alpha tokens, which users receive when they stake TAO into subnets. If you’re not familiar with the concept of subnets and Bittensor infrastructure, please check out Bittensor project reviewAlpha tokens can go up or down in value, but they also offer a chance for much higher rewards, especially in new or fast-growing subnets. It has more complex staking dynamics and comes with more risk, but also more opportunity if you're actively involved.

Source: Taostats.io

In both Root and Alpha staking, there’s no fixed lock-up period—you can stake or unstake your TAO tokens at any time. However, while your tokens are staked, they’re temporarily locked, which means you can’t trade or transfer them until you unstake.

In Root staking, staking rewards are simple and “stable”. However, the reward amount (APY) is slowly going down over time. It’s because the network is moving more rewards toward Alpha staking.

In Alpha staking, things work differently. You first change your TAO into special tokens called Alpha tokens, which are connected to subnets. When you hold Alpha tokens, your balance grows as and when the subnet earns daily rewards. The more TAO is staked into a subnet, the more rewards it gets. If you want to exit, you must convert your Alpha tokens back to TAO. This process can be affected by market prices and might give you less TAO back than you put in, depending on the timing. This method can earn you more than Root staking, but it depends on how well your chosen subnet performs and how much activity it gets.

With Root staking, your rewards are based on how well your validator performs in the network. In Alpha staking, you stake your TAO into a subnet, and your rewards depend on the overall performance of that subnet. Subnets that provide more value to the network receive more emissions, which increases your Alpha token balance.

Centralized staking

Centralized TAO staking, offered by platforms like Coinbase, is a simple and beginner-friendly option where the exchange handles the staking process for you. You earn a fixed reward rate of around 17.3% APY. While your tokens are temporarily locked during staking, there are no additional lock-up periods beyond what the network requires. The main trade-off between centralized and decentralized staking is convenience versus control.

Staking is a great way to put your TAO to work while contributing to the network's security. But, it's important to understand the terms before participating, as rewards and conditions may differ depending on the platform you choose.

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🧬VINDICATED! The Epstein Files Connect Gates, Pandemics & Censorship to a Globalist Blueprint for a Biosecurity State🧬

Every warning. Every documentary. Every article. Every post that got us banned. All of it was true. Now what? What can we do? Read on, share this Substack, help us save lives! The Light is shining! ✨

Well, well, well… look what the cat dragged in.

Actually, scratch that. Look what the Department of Justice finally dragged out of Jeffrey Epstein’s email inbox and dumped on the world’s doorstep like a rotting corpse nobody wanted to claim. Yep, that’s right. The Epstein files. It’s hilarious how the “Democratic hoax” and “fantasy” client list we were all told didn’t exist suddenly became a very real, very unsealed document.

For years—years—they called us conspiracy theorists. They slapped “misinformation” labels on our posts faster than Pfizer could print liability waivers. They kicked us off platforms, lied about us in the media, and shadow-banned our reach. Meanwhile, the real conspiracy—the one typed out in black-and-white emails between billionaires, bankers, and a convicted pedophile—was sitting in a government vault, waiting to prove us right.

And now? Now the receipts are public.

The release of Jeffrey Epstein’s files has done far more than expose a network of elite pedophilia and blackmail—it has vindicated truth-tellers like us and countless others who were smeared, censored, de-platformed, and persecuted for warning about the sinister agendas of the globalist elite. The documents reveal shocking connections between Epstein, Bill Gates, pandemic planning, and the systematic suppression of anyone who dared to connect the dots.

We weren’t crazy. We were just early. And they hated us for it.

Epstein, Gates, and the Pandemic “Business Model” They Built Together

One of the most damning revelations from Epstein’s files is his partnership with Bill Gates. Forget the carefully crafted PR spin about “regretting” those meetings. These weren’t casual dinners. These were planning sessions.

Back in 2015, Gates and Epstein exchanged emails about “preparing for pandemics” and strategies to “involve the WHO.” Gates wrote: I hope we can pull this off.”

How’s that for a chill down your spine?

This eerily foreshadowed the 2019 Event 201 simulation—a pandemic exercise hosted by the Gates Foundation, Johns Hopkins, and the World Economic Forum that just happened to model a global coronavirus outbreak… just months before COVID-19 ”mysteriously” emerged in Wuhan. Funny how that works, isn’t it?

But let’s rewind even further, to the real blueprint—the financial architecture that made the pandemic response not just possible, but profitable.

The story crystallizes in a chilling 2011 email exchangeJuliet Pullis, a JPMorgan executive under then-chairman Jes Staley, emailed Jeffrey Epstein with a list of detailed questions. The source? “The JPM team that is putting together some ideas for Gates.

The questions were precise: What are the objectives? Is anonymity key? Who directs the investments and grants? This wasn’t JPMorgan consulting an expert; it was a trillion-dollar bank asking a convicted felon to architect a billion-dollar philanthropic fund for Bill Gates.

This wasn’t JPMorgan consulting a philanthropic expert. This was a trillion-dollar bank asking a convicted felon to architect a billion-dollar philanthropic fund for one of the richest men on Earth. Let that marinate for a moment.

Epstein’s reply was fluent and commanding. He described a donor-advised fund with a “stellar board” and ties to the Gates-Buffett “Giving Pledge.” He noted the billions already pledged and identified the gap: “They all have a tax advisor, but have no real clue on how to give it away.” His solution? JPM would be an integral part. Not advisor… operator, compliance. Staley’s response: We need to talk.

By July 2011, the plan evolved. In an email to Staley, copying Boris Nikolic (Gates’ chief science advisor), Epstein laid out the core pitch: A silo based proposal that will get Bill more money for vaccines.”

Not “more research for pandemics.” Not “better public health infrastructure.” More money for vaccines.” This is the unambiguous language of capital formation, not charity. It reveals the structure’s intended output planning reached the highest levels.

In August 2011, Mary Erdoes, CEO of JPMorgan’s $2+ trillion Asset & Wealth Management division, emailed Epstein (while on vacation) with additional operational questions.

Epstein’s reply was breathtaking in scope:

  • Scale: “Billions of dollars” in two years, “tens of billions by year 4.”

  • Structure: Donors choose from “silos” like mutual funds.

  • The Kicker: However, we should be ready with an offshore arm — especially for vaccines.”

An offshore arm. For vaccines. For a charitable vehicle. Let that sink in.

So, by the time the world was panicking in March 2020, the financial machinery was already built. The investment vehicles, the donor-advised funds, the reinsurance products at places like Swiss Re, and even the simulation playbooks were dusted off and ready to go.

The pandemic wasn’t an interruption to their business—it was the Grand Opening.

Epstein’s role extended far beyond trafficking; he was a facilitator and blackmail operative for the global elite. The same forces that orchestrated the COVID-19 power grab—the mask mandates, lockdowns, censorship, and coercive mRNA push—are the ones who silenced critics like us.

Gates, despite his documented ties to Epstein (multiple flights on the “Lolita Express” after Epstein’s 2008 conviction), walks freely. He’s on TV. He’s advising governments. He’s still funding “global health initiatives” and pushing digital IDs, vaccine passports, and climate lockdowns.

Meanwhile, people like our friend, Joby Weeks, are under house arrest without charges, and voices like ours were de-platformed, demonetized, and destroyed for saying this very thing.

We told you. You knew it in your gut. Now you have the emails.

Censorship: The Elite’s “Misinformation” Label to Cover Their Crimes

The Epstein files expose not just criminal behavior, but the playbook for the systematic suppression of truth. While Epstein’s powerful friends were being protected by the FBI, the DOJ, and the media, platforms like Facebook (Meta), YouTube (Google), and Twitter went to war against anyone talking about it.

Think about the sheer audacity.

We were banned from social media for calling COVID-19 a “fake pandemic” and exposing the vaccine injury data that’s now undeniable.

Below is a screenshot of the first Facebook post that was taken down and then used as “Exhibit A” in their “reports” about how bad we were, naming us the 3rd most dangerous people on earth after Dr Joseph Mercola and Bobby Kennedy in the digital hit list they called the “Disinformation Dozen.” They attacked us, lied about us, and pressured the media, social media, and population at large to do the same: attack, threaten, and cast us out.

We were labeled “dangerous” for sharing emails, documents, and research that the DOJ and the CDC have now confirmed.

It was never about “safety.” It was about narrative control.

The same institutions that turned a blind eye to Epstein’s crimes for decades—the same ones that let him “commit suicide” in a maximum-security prison with cameras conveniently malfunctioning—suddenly became the ruthless hall monitors of “acceptable discourse,” ensuring only their approved stories could be told.

Big Tech, Big Media, and Big Government are all part of the same protection racket. They shielded Epstein’s client list, and now they shield the architects of the pandemic debacle. Independent journalists, researchers, and health advocates like us, who connected these dots, were systematically de-platformed, demonetized, and destroyed.

Why? Because we were right, and that was the greatest threat of all.

When you’re over the target, that’s when the flak gets heaviest. And brothers and sisters, we were getting shelled.

They Lied About Us While Protecting the Real Criminals

Let’s be crystal clear about what happened here.

We have spent decades exposing the cancer industry, Big Pharma’s corruption, and the suppression of natural health solutions. We produced The Truth About Cancer docu-series, reaching millions worldwide. We warned about vaccine injuries, censorship, and the coming medical tyranny years before COVID-19.

And what did they do? They called us “Conspiracy Theorists,” “Anti-Vaxxers,” and “Killers.” Dangerous.

They said we were killing people with “misinformation.”

Facebook banned us. YouTube deleted our videos. Legacy media ran hit pieces. PayPal froze our accounts.

All while Bill Gates—a man with documented ties to Jeffrey Epstein, who flew on his plane multiple times after Epstein’s conviction, who got STDs from Russian girls Epstein provided for him for which Gates asked Epstein’s help getting him antibiotics to slip secretly to his then wife, Melinda, so that she would not know about his inexcusable and perverted escapades—yes, THAT Bill Gates—was at the same time, being platformed on every major news network as the world’s health oracle.

All while Anthony Fauci—who funded gain-of-function research in Wuhan through Peter Daszak and EcoHealth Alliance, who lied under oath to Congress, who flip-flopped on masks, lockdowns, and vaccines—was treated like a saint. Time Magazine’s “Guardian of the Year.”

All while Pfizer—a company with a $2.3 billion criminal fine for fraudulent marketing, bribery, and kickbacks—was given blanket immunity from liability and billions in taxpayer dollars to produce a vaccine in record time with no long-term safety data.

Were we the dangerous ones?

No.

We were the truthful ones. And that made us the enemy.

The Weaponized Institutions: From Epstein’s Blackmail to Your Digital ID

Epstein’s operation was never just about blackmail for perversion; it was blackmail for control. The files show his cozy ties to intelligence agencies (Mossad, CIA), financial giants like JPMorgan and Deutsche Bank, and political leaders across the globe.

This is the same cabal now pushing:

  • The Great Reset

  • Digital IDs

  • Central Bank Digital Currencies (CBDCs)

  • 15-minute cities

  • Carbon credit social scoring

  • Vaccine passports

Let’s connect the dots they desperately don’t want you to see:

Financial Control:

JPMorgan banked Epstein for years despite clear red flags—over $1 billion in suspicious transactions flagged internally and ignored. They knew. They didn’t care. They paid a $290 million fine and moved on.

Now, banks like Bank of America, Chase, and PayPal de-bank conservatives, truckers, health freedom advocates, and anyone who questions the narrative. Canadian truckers. Gun shops. Crypto entrepreneurs. The goal is the same: punish dissent and control economic life.

CBDCs are the endgame—a digital leash on every citizen. Programmable money that can be turned off, restricted, or expired. Social credit by another name.

Medical Tyranny:

The FDA, CDC, and WHO—utterly captured by Big Pharma—lied about:

  • COVID origins (Wuhan lab leak dismissed as conspiracy theory)

  • Vaccine efficacy (”95% effective” turned into “you need boosters forever”)

  • Natural immunity (ignored despite being superior)

  • Early treatments (ivermectin, hydroxychloroquine, vitamin D censored and mocked)

They attacked natural health advocates just as they’ve done for decades with cancer cures, detox protocols, and anything that threatens Big Pharma profits. They are not health agencies; they are profit-enforcement arms dressed in lab coats.

Political Corruption:

Epstein’s blackmail ensured elite immunity. His client list includes presidents, princes, CEOs, scientists, and media moguls.

Meanwhile, true dissidents—Julian Assange (tortured in prison for journalism), Edward Snowden (exiled for exposing mass surveillance), and journalists like us—face persecution, imprisonment, debanking, slanderous hit pieces, and/or constant character assassination.

Two systems of justice: one for them, one for you. One for Epstein’s friends, one for truth-tellers.

The Way Forward: They’re Exposed. Now It’s Time to Build.

The Epstein files are more than proof; they are a declaration that the system is rotten to its core. But here’s the beautiful part: they vindicate us completely.

Every warning. Every documentary. Every article. Every post that got us banned. All of it was true.

The globalists’ grip is weakening. The truth—the real, ugly, documented truth—is erupting from the very files they tried to hide. They labeled us liars, but the emails show they were the architects. They silenced us, they censored us, but that only made our voices more necessary.

Epstein did not kill himself. COVID-19 was not natural. The vaccines were not safe or effective. The censorship was not about protecting you—it was about protecting them.

And now? Now it’s time to use this vindication as fuel. Not for revenge, but for revolution. A revolution of truth, health, freedom, and justice.

They tried to bury us. They didn’t know we were seeds.

The Epstein files are a smoking gun. A paper trail. A confession written in emails, financial structures, and offshore accounts.

They prove what we’ve been saying all along:

  • The system is rigged.

  • The elites are criminals.

  • The pandemic was planned.

  • The censorship was coordinated.

And we were right. 👍

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