Trump launches new crypto platform with scant detail

AFP | New York, United States

The Daily Tribune - www.newsofbahrain.com

Email: editor@newsofbahrain.com

Former US president Donald Trump along with his sons and entrepreneurs late Monday launched a cryptocurrency platform but provided few details. Little was revealed about the Trump family crypto project during a two-hour online presentation other than an offer to let people buy digital “tokens” giving them a vote in platform decisions.

The event went ahead as planned despite an apparent assassination attempt against Trump on Sunday at his golf club in West Palm Beach, Florida.

World Liberty Financial intends to offer services based on so-called decentralized finance, a mechanism that eliminates the need for an intermediary such as a bank to carry out transactions with a third party, the politics-laced discussion indicated.

Decentralized finance, or DeFi, is based on so-called blockchain technology, which keeps a theoretically open but tamper-proof record of transactions.