Former US president Donald Trump, along with his sons and business partners, made an announcement on Monday about the launch of a cryptocurrency platform.
However, very few details were provided during the two-hour online presentation..
The main feature mentioned was the opportunity for people to purchase digital “tokens” that would give them a voting right on platform decisions.
Despite an apparent assassination attempt against Trump on Sunday at his golf club in West Palm Beach, Florida, the event proceeded as scheduled.
The new venture, named World Liberty Financial, aims to provide decentralized finance services. This innovative approach eliminates the need for a middleman, such as a bank, in transactions with third parties.
The discussion suggested that World Liberty Financial would be based on decentralized finance, also known as DeFi, which operates on blockchain technology.
This technology ensures transparent and secure transaction records.
The platform will allow users to lend or borrow cryptocurrencies to or from each other, offering a new way to engage in financial transactions.
The former president’s son Donald Trump Jr. touted this as “the start of a financial revolution,” during a session streamed on X, formerly Twitter.
