Eric Trump, the son of the US president, expressed the opinion that the banking industry could disappear within the next decade if it does not adapt to blockchain technology. In his speech on CNBC, he noted that the traditional financial system is slow and expensive, while crypto applications already allow for instant and inexpensive money transfers.
Blockchain, according to Trump, offers significant advantages: speed, security, and cost reduction. Decentralized finance platforms (DeFi) allow bypassing intermediaries like banks, making them less competitive. For example, the World Liberty Financial (WLF) platform, supported by Donald Trump, actively promotes DeFi solutions, particularly in Pakistan.
Eric emphasized that banks that do not implement blockchain risk being left out of the market. The surge in popularity of cryptocurrencies and tokens, despite market volatility, only confirms this trend. For instance, by 2025, the number of new tokens reached 7 million, although many of them have no real value.
Blockchain technology is already changing the financial system, and banks must act quickly to remain relevant. The future of finance lies in decentralization and innovation.
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