eric Trump Warns Banks: Adapt to Blockchain or Face Obsolescence
Eric Trump, during a visit to Dubai, issued a stark warning to banks. He believes they have roughly a decade to embrace blockchain technology or risk becoming obsolete. Trump, the executive vice president of the Trump Organization, sees the traditional financial system as slow, expensive, and outdated.
In an interview with CNBC, Trump criticized the current banking system, calling it “broken.” He argued that blockchain offers better solutions then traditional financial institutions. “Blockchain can do everything current banks do, but better,” he stated.
Trump also slammed SWIFT, the global financial messaging network, calling it an “absolute disaster.” He believes the banking system is antiquated and favors the ultra-wealthy. “Our banking system is weaponized against most people, especially those without significant wealth,” he added.
As the UAE aims to become a global crypto hub, Trump’s comments reflect his growing interest in cryptocurrencies.He predicted Bitcoin (BTC) could reach $1 million,seeing it as a bank alternative.Trump also showed interest in Ethereum (ETH), previously encouraging people to invest in it.
However, his prediction didn’t hold. ETH’s price dropped by over 30%, leading Trump to quietly remove part of his earlier post. Despite this, his warnings about the banking system’s future remain clear.
