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<p>Eric Trump, son of American President Donald Trump, recently expressed his belief that traditional banking systems are outdated and that crypto and blockchain technologies will soon surpass them. In a recent interview, Eric Trump emphasized that blockchain technology can fulfill all the functions of modern banking systems, but in a more efficient, faster, and cost-effective manner.</p> 
<h2 id="h-the-traditional-banking-system-is-obsolete-in-the-face-of-crypto">The traditional banking system is obsolete in the face of crypto!</h2> 
<p>During an interview with CNBC in Abu Dhabi, before his keynote speech at the <a href="https://www.cointribune.com/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a> conference, Eric Trump criticized the slow processes of traditional banking, citing the example of obtaining a mortgage loan, which can take up to 90 days in the United States. According to him, this inefficiency is unacceptable in the digital age where crypto and blockchain technology can offer faster and cheaper solutions without the usual paperwork.</p>
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<p>Furthermore, he mentioned that his father, the elected President Donald Trump, is aware of the growing importance of crypto worldwide. However, he warned that if the United States does not take the lead in regulation, they risk being left behind, and other nations like China could seriously overtake them. For according to Changpeng Zhao (CZ), China might even <a href="https://www.cointribune.com/en/china-and-bitcoin-cz-unveils-an-inevitable-scenario/" target="_blank" rel="noreferrer noopener">secretly accumulate a reserve of bitcoin</a>, giving it a strategic advantage over the global financial system.</p> 
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<h2 id="h-a-clear-regulation-to-become-a-leader-in-the-sector">A clear regulation to become a leader in the sector</h2> 
<p>Eric Trump <a href="https://youtu.be/ZGEFGZnoI1I?si=dmOs72ShAhEJdmkN" target="_blank" rel="noreferrer noopener">expressed</a> his hope that the United States will become a global leader in the crypto space by establishing clear and transparent regulations. The recent election of many pro-crypto candidates to Congress could lead to a more favorable regulatory environment for the cryptocurrency industry. Moreover, influential figures like Elon Musk will play a key role in the new administration to promote innovation and reduce bureaucratic obstacles for businesses.</p> 
<p>In conclusion, Eric Trump is convinced that crypto and <a href="https://www.cointribune.com/blockchain/" target="_blank" rel="noreferrer noopener">blockchain</a> technology are the future of financial systems. He calls for rapid adoption and sensible regulation to ensure that the United States remains at the forefront of this technological revolution.</p>

One Of Donald Trump’s Sons Predicts The End Of Traditional Banks

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