Banks Must Adopt Crypto or ‘Be Extinct in 10 Years,’ Eric Trump Says
Eric Trump, son of U.S. President Donald Trump and executive vice president of the Trump Organization, said banks will need to utilize blockchain technology if they want to survive the next decade.
“The modern financial system is broken, it’s slow, it’s expensive,” he said in an interview with CNBC on Wednesday. “There’s nothing that can be done on blockchain that can’t be done better than the way that the current financial institutions are working. SWIFT is an absolute disaster.” The Society for Worldwide Interbank Financial Telecommunication, or SWIFT, is the banking industry’s international system for messaging and payments instructions.
Trump, who will take the stage at CoinDesk’s flagship Consensus 2025 event in…
