In a recent CNBC interview during the Bitcoin Conference in Abu Dhabi, Eric Trump, son of President-elect Donald Trump, asserted that traditional banking systems are becoming obsolete and predicted that cryptocurrencies and blockchain technology will surpass them within a decade.
He criticized the inefficiencies of current banking processes, such as the lengthy 90-day period often required to secure a home loan, suggesting that blockchain technology offers faster, more efficient, and cost-effective solutions without the need for excessive paperwork.
Eric Trump emphasized the importance of the United States leading in the adoption and regulation of cryptocurrency to avoid falling behind other nations. He highlighted his father’s commitment to making America the “crypto capital of the world” and expressed optimism about the growing pro-crypto sentiment in Congress, which he believes could pave the way for transparent and sensible regulations.
Both Eric and his brother, Donald Trump Jr., are associated with the decentralized finance platform World Liberty Financial, although they do not hold official positions within the organization. Eric Trump also mentioned Elon Musk’s anticipated role in the upcoming administration, where Musk is expected to co-lead the Department of Government Efficiency, aiming to drive innovation and reduce governmental interference in business.
These statements reflect a broader vision of integrating blockchain technology into the financial system, positioning the United States at the forefront of this digital transformation.
