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.
https://youtu.be/cLnNedcVgcU?si=wS2MAylU7I2LFfhCWhat is your opinion about this.
He speaks correctly. But it's not about cryptocurrency. The very system of financial speculative capitalism has exhausted itself. That's what he's talking about. It is impossible to produce money from money forever, which is what banks do, being in fact the largest moneylenders. This system of economic organization will be replaced by some other one, in which money probably will not be a form of debt, since this is the root of the problem. The bike is stable while it is in motion, but then the pedals no longer turn and the bike falls. The financial system is also falling, because there is no perpetual motion machine, which was mistakenly considered monetarism.
P.S. By the way, cryptocurrency is currently embedded in the existing financial system relative to fiat (a form of debt), but cryptocurrency itself is not a form of debt.