Fiat
Government-issued currency that is not backed by a physical commodity like gold.
SWIFT
Definition
SWIFT is the backbone of international banking. When banks wire money between countries, they use SWIFT messages to communicate and settle payments. Because SWIFT is controlled and can be monitored, governments and international bodies can block specific countries or entities from accessing it—a powerful financial sanction that Bitcoin bypasses entirely.
Example
Cutting a country off from SWIFT prevents its banks from processing most international wire transfers.