저자: Kevin · 외국인
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에릭 트럼프의 인터뷰 발언(국제송금·모기지 기간·환전수수료 등 기존 금융 비판)을 반박하며, 블록체인 기반 결제·정산은 빠르고 효율적이라 장기적으로 중요하다고 주장. 다만 크립토 가격 상승은 필연이 아니며, 트럼프 가문의 WLFI 토큰 이해관계와 스테이블코인 규제 수혜 의혹을 비판적으로 짚음. 은행은 소멸하지 않고 블록체인을 도입할 것이라는 견해.
다듬은 글
Hey everyone, me Kevin here. In this video, I want to break down this interview with Eric Trump. And I have to say it was really disappointing and I wouldn't expect this of Eric Trump. So, I'm disappointed in him, but I want to go through it because I think it's important for us to see where there are major misconceptions and what's going on.
And I have a feeling I know what's driving this. A spoiler alert has a lot to do with some insider front running on crypto. In fact, it's almost on a daily basis we see these disclosures that senators are, you know, buying crypto ahead of cryptocurrency legislation and stable coin legislation. Mind you, I think tokenization and stable coins are really good way to conduct banking.
Like blockchain is way faster. It is the future of banking. Does that necessarily mean cryptocurrencies are going to rise in price? Not necessarily. But those built-in factors are coming and they're going to be faster and better than the systems we have today. But this interview right here, I'm a little disappointed by it.
Let's go through some of it. Well, let's actually make it so you can hear it though. How about that? You know, the two and the willingness to to again say yes back to the the first part of our our interview. Um you know, the willingness to actually look forward and realize that the modern financial system is broken.
It's slow. It's expensive. Um, and there's nothing that can be done on, you know, blockchain that can't this. First of all, I agree. We can be faster on blockchain. Totally agree so far. Can't be done better than the way that the current financial institutions are are working. You know, Swift is an absolute disaster.
Um, there's not a week that goes by that I'm neither trying to send out a wire on a Friday afternoon or trying to receive a wire on a Friday afternoon. You're worried if you're going to hit that 4:00 cut off time. Yeah. where you might not hear, you know, whatever funds you're supposed to be receiving in the ordinary course of business, you know, for another 72 hours or whatever it might be.
It's it's it's insane. I mean, it's not really that insane. This this, I think, is just sort of an exaggeration because you're using a Friday example. And why are you sending or trying to receive your wires right before the cutoff? A little bit of pre-planning could avoid this sort of problem because again if you send wires on any day before fe 4 4 pm Eastern they're almost instantaneous.
I'd say they show up within 30 minutes. We do this all of the time with house hack and a real estate business. Not a big deal. Yeah. Okay. Wires don't process on the weekend. So if you miss the Friday cutoff, it's kind of on you. So I think this one's a little bit of an exaggeration. you know, why do banks work 9 to5, you know, with a with a long lunch break, you know, Monday through Friday.
Okay. Wires don't stop because of a lunch break. It doesn't make a whole lot of sense. It's, you know, you could go try and get a, you know, a mortgage in the United States or really anywhere else around the world, but, you know, you and, you know, whoever your spouse is, you could sit there for 90 days, 120 days going through and know your customer with a bank that's literally been your banker for the last 25 years.
Okay, this is this is where I start losing it a little bit. Not only have I been a mortgage loan originator, but I'm still a real estate broker and I've done a lot of loan transactions. KYC takes like five minutes, okay? You can literally like scan your face and your ID on a phone these days and KYC is like automated and done in minutes.
No, like this is not a big deal at all. Like running you through ORFAC takes like 30 seconds. It's not that big of a deal. This is totally normal. But then this idea that it takes 90 to 120 days to get a mortgage. Who's your mortgage lender? Like what are you smoking? I'm seeing loans get done in 21 to 30 days on a consistent basis.
Yes, sometimes someone self-employed, more complex filing might take closer to 45 days. But that also assumes that they haven't been pre-underwritten or you know even in some cases just a pre-approval will get you cleaned up a lot and keep you within 30 days. But some buyers in real estate are, and this is a good strategy if you ever want to buy a property, is you get your pre-approval letter and then you ask your lender, hey, you know, do you think in this more competitive environment, some markets are more competitive right now, uh, it might make sense getting pre-underwritten?
And they actually send your file up all the way through an underwriter, so you don't have to do it anymore when you're in escrow. You just send the property through, you're already approved, basically. Uh, and you can get loans done in less than 21 days. So, um, like I personally don't like it when politicians exaggerate in a nonfactual basis.
This is just rhetoric and opinion and it's disappointing coming from Eric Trump. I feel like you should be smarter than this, you know, and it takes you what, 120 days to get a mortgage to buy a house. You know, by the time you get the mortgage, the house that you want to buy is already gone. And, you know, your dreams already imploded.
Then you like, again, you're you're using the wrong banker. You're not hooked up with the right agent. I I don't know. You're doing something wrong. Like, this isn't modern finance. This is this isn't a lie. You're right. It's a lie. Try and transfer money across the world. You want to go buy a a watch.
You want to go buy a car. You want to go, you know, do whatever it is. You know, the banks take half of that currency conversion rate. No, no bank takes half of your international wire. We pay international folks all the time. Banks are not taking half of the money. They do the currency conversion for you.
Makes it easy. you're usually getting pretty dang close to spot anyway on the conversion and I sent international wires and they show up within you know within 90 minutes often in fact I think the statistic right now is that 90% of crossber payments made over swift which he's bagging on uh clear within an hour now sometimes it takes a little longer half a day to a day depending on you know what's going on with local banks but yes and don't get me wrong blockchain's going to be way faster and we'll eventually get to a blockchain based Swift, but I I I feel like exaggerating to get there isn't the way to go about it.
You have all sorts of things. You have to find a branch bank in a country with a person, a banker you've never spoken to before. You don't even know if they're, you know, a real life banker or they're fraudster. Well, that's that's the point of the receiving entity. That's their job. It's not like you, Eric, you want to buy a watch from Switzerland because you don't know what to do with your money anymore.
It's not like you you need to contact that banker. The Swiss watch maker tells you this is my banker. Whereas you can open up a DeFi app right now. You can open up, you know, any cryptocurrency app and you can send money wallet to wallet instantaneously without This is true blockchain. Fantastic. Big fan of this.
And we're getting there. The expense without the variability. Um our banking system is broken. Our banking system is antiquated. our banking system favors the ultra wealthy. Um, probably. And what actually got me into it is the fact I realized our our banking system, it was weaponized against the vast majority of people in our country, either the people that don't have the the zeros on their balance sheet.
I mean, in fairness, this is where we get probably a little bit more true. Uh, the banking system is a great tool for people who can get financing or businesses who can get financing. Everybody else kind of gets ripped off get ripped off on credit card fees and rates. Uh uh you know, lending is generally unavailable for for folks unless they have significant assets already.
So I I I agree with Eric on this. I I don't know when the last time was that Eric bought a house, but apparently it wasn't anytime recently. So some of this is exaggeration, but I will say there, you know, this is where I want to get bullish on blockchain tech. you know, right now if you buy shares in the stock market, you know, they take a day to settle.
So, it still takes a day where a broker dealer might have to deal with fails to deliver. Might have, in other words, like the shares don't show up. Uh they have to account for all of this nonsense back and forth. It increases the regulatory burden. It increases the costs of broker dealers. If you can move broker dealers in the stock market or banks to blockchain, all of that becomes instantaneous, way better.
So big fan of blockchain and and I think we're going to see a lot of blockchain and real estate coming as well. Uh it's something we're looking into with house hack as well. Uh mostly because in the future we expect uh to be able to trade zero fee real estate. And one of the tools that could actually enable that faster and cheaper is blockchain.
Uh not using cryptocurrencies but using stable coins, right? So it's not like you know making some kind of like memecoin or whatever but using blockchain technology for settlement and custody or dividends. That's going to be a big deal in the future. So, I'd definitely say uh he's right that there is a transformative effect possible, but the way he's trying to get there is is kind of full of lies or just mistruths, I guess we could call it.
Uh but I will agree, you know, there's going to be some excitement around what we could do with blockchain in the future. We're excited at House Hack or people who might have worn that red hat that said make America great again. Um and uh and it forced me into the crypto world and and I'm telling you um if the banks don't watch what's coming, they're going to be extinct in 10 years.
Yeah. So you're still going to have custody banks, right? So even if you're full crypto, somebody's still like people don't want to custody everything themselves. You can, but there's just a greater risk of of potentially you losing your wallet or whatever, right? So people still, especially elderly folks, they still want a banker.
people still want somebody taking that risk and ensuring that risk. And so I think, you know, more FDIC protections will come for uh stable coin wallets. So in the future, banking will probably evolve to where you could actually bank your stable coins with your bank and they're responsible for protecting it.
So if they lose it, you're insured by a governmentbacked entity. That's really where you get blockchain that takes off, right? That's really, you know, where you don't have to so much worry about like you could go to Anchorage Digital today, wallet provider, uh, you know, custody provider. Hey, what kind of insurance do you have?
It's kind of hard to get a straight answer out of it. And it's hard to know how resilient is that insurance policy actually going to be. Whereas when you have too big to fail banks, you can actually ensure and have faith that you know JPA is going to come bail out your stable coin wallet should there be some issues in the financial system in the future.
So as a result, I don't think banks will go extinct, but I do think they will adopt uh blockchain technology and I'm excited about the possibilities for that. But again, I I think Eric Trump may have some bias with their exposure to World Liberty Financial. You know, the Trump family just took control of about what 70% of World Liberty Financial, which is really their their token that uh uh their meme token that they created that so far doesn't really have any utility.
Supposedly, they profited somewhere around half a billion dollars from it. Uh and it's nice to argue that, you know, their token somehow benefits from stable coin regulation, which I think is the implication. That's why he got all in on crypto. But I think when we separate what blockchain can do, we could be really optimistic about blockchain but not necessarily be optimistic on, you know, like a Trump token or some kind of rugpull.
Anyway, uh, thanks so much for watching this video. Hopefully this was insightful, my opinion on why I'm disappointed in what Eric Trump is saying, but also why I'm actually pretty bullish on blockchain. .
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