The son of Donald Trump, Eric Trump, also the executive vice of the Trump Organization said banks can extinct in 10 years if they do not watch what is coming. I think what he meant is that if banks do not support cryptocurrencies.
He said modern financial system is broken. It is slow. It is expensive. There is nothing on the blockchain that can't be done better than the current financial institutions is working. Banks not working during weekends also not working more than 8am to 4pm which can be a disadvantage to those that is not able to pay money early before 4pm on Friday.
Well he's the son of Trump, a family that says lots of things.
I don't see the banks going extinct anytime soon especially with their desire to keep up with current world changes.
They should realise that Bitcoin is an alternative not a replacement to the current system
The banks still have their use to assist the government in pushing it's monetary policy.
Like Father Like Son, eh?
They do sure say lots of things and thats why it comes into a point that people wont be that trying out to listen up anymore on what they do say on which this isnt that limited to Trump and family but also in other known people or who do have the power in correlation into the things that come out into their mouth. Its true that there's no way that current monetary system or simply banking system would be gone anytime soon just because of cryptocurrencies existence. Crypto might gained up that attention and recognition but it wont be enough to replace the current banking system. Even myself wanting or being positive with cryptocurrencies development but not into the point that I've been thinking that it could be able to replace or make banks wont be able to exit.
We do hate centralization but cant be able to deny that when it comes to functionality that brings up convenience and comfort then this is something that we do prefer. Just like on what everyone else been talking that despite of being positive towards cryptocurrencies but coming into a point that we've been thinking about on replacing bank anytime soon then this is something which is that impossible.