Eric Trump, executive vice chairman of the Trump Organization and son of US President Donald Trump, has warned that traditional banks could disappear within the next decade if they don't adapt to the blockchain technology revolution. In an interview with CNBC during the TOKEN2049 conference in Dubai, he described the modern financial system as "broken, slow and expensive," noting that blockchain technology offers more efficient solutions.
“There is nothing that can be done on blockchain that can’t be done better than the way current financial institutions operate,” said Eric Trump.
Eric Trump has been particularly critical of SWIFT, the global messaging network for financial transactions, calling it an “absolute disaster” due to its slow and expensive nature. He has also said that the US banking system favors the super-rich and has been used as a tool against ordinary citizens, which has prompted him to turn to cryptocurrencies.
Trump's presence in Dubai underscores the region's importance as an emerging hub for cryptocurrency adoption. The TOKEN2049 event drew about 15.000 attendees, including executives from major firms such as BlackRock and Goldman Sachs. The development of blockchain technology and cryptocurrency adoption in the Gulf, centered on Dubai, is expected to significantly impact the global financial landscape.
For more information, you can watch Eric Trump's interview on CNBC:
Rank Higher with Better SEO
From the journalistic team of Greek news and Radio Fl
photo https://michiganadvance.com/2024/10/29/eric-trump-rallies-the-faithful-at-wyandotte-rally/
