Trump's Son: Traditional Banks Urgently Need to Change Their Operations, Blockchain Technology Is More Efficient Than Current Traditional Financial Operations

BlockBeats News, April 30th, Eric Trump, the son of former U.S. President Donald Trump, issued a warning to the banking industry: Change your ways or face extinction. "The modern financial system has collapsed, with slow speeds and high costs."

"Everything that can be done on the blockchain is more efficient than the current operating methods of financial institutions. SWIFT is a disaster," Eric Trump said on Tuesday, referring to the global financial transaction messaging network.

He harshly criticized the slow and inefficient nature of the traditional banking system, calling it "outdated" — a common criticism held by many, especially cryptocurrency enthusiasts. As the son of the former U.S. President, Eric Trump has made frequent visits to the UAE in recent years, as the Trump brand continues to expand its real estate projects in the country and the wider Gulf region, with the desert emirate rapidly emerging as a global cryptocurrency hub.

As a strong supporter of digital currency, Eric Trump predicted at the Bitcoin MENA 2024 conference in Abu Dhabi last December that the price of Bitcoin would reach $1 million.