#Trump100Days Eric Trump: Without blockchain, banks will disappear in 10 years. In an interview with CNBC, Executive Vice President of Trump Organization Eric Trump called the interbank messaging system SWIFT an 'absolute disaster'. In his opinion, the traditional banking system operates slowly and inefficiently. Over time, it becomes obsolete, while the crypto industry is rapidly evolving. He noted that decentralized finance (DeFi) eliminates the need for intermediaries. DeFi platforms allow for quick P2P transactions with minimal or no fees, unlike regular banks, for which fees are one of their sources of income. 'Right now, you can open any DeFi app and instantly send money from wallet to wallet without unnecessary expenses, independent of the volatile policies of banks,' Trump said.