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.
The existence of banks has its own relevance too and cannot be neglected with the focus on block chain. Not everyone has the knowledge of the block chain as it's more complicated to understand than the normal banking system and can pose a disadvantage to elderlies and block chain illiterate. The idea of both coexisting should be the best ideology as both provide services necessary for our daily lives.