Eric Trump, a well-known businessman and the son of US President-elect Donald Trump, has made a bold prediction about the future of banking. Speaking at a Bitcoin conference in Abu Dhabi, he claimed that blockchain technology is on track to outperform the present global financial systems, which he described as obsolete and inefficient.
Trump highlighted the limitations of traditional banking, citing significant wait periods for activities such as obtaining a home loan. “In America, obtaining a mortgage might take up to 90 days. “By the time it’s approved, the house you wanted is probably sold, and your dream is over,” he said. According to Trump, blockchain technology can streamline such processes, providing faster, cheaper, and more effective solutions without the need for extensive paperwork.
Trump believes blockchain can surpass the banking sector in every way, including speed and cost-efficiency, making it a game changer in the financial business. He also emphasized the importance of the United States playing a leading role in the global adoption of cryptocurrency and blockchain technologies. Failure to do so, he cautioned, may give other countries a competitive advantage in this burgeoning field.
Under his father’s administration, Trump expects transparent and rational cryptocurrency rules, paving the path for the United States to become a global leader in blockchain innovation. “We need a clear road map for the crypto space,” added the CEO. American should lead and become the world’s crypto superpower.”
Trump also implied that entrepreneurs such as Elon Musk would play key positions in the next administration. He stated that Musk is expected to co-lead efforts to remove bureaucratic inefficiencies and promote innovation. “We want to get government out of the way of great businesses,” Mr. Trump said.
As blockchain technology gains pace, Trump sees it as a vital driver for a more efficient and decentralized financial system, providing a vision of progress that has the potential to transform the global economy.
