The post Interview: TRES CEO Tal Zackon says there is no trust left in traditional finance appeared on BitcoinEthereumNews.com.

Nearly half of American men are clueless about where their money goes once deposited in the bank. A survey by TRES, a Web3 financial data platform, showed that 48% of men believe their bank deposits stay put. Women did better, with 68% understanding that banks lend out a portion of these deposits to make returns through loans and investments. This knowledge gap only highlights deeper issues in the current financial system, one that’s crumbling under a lack of transparency and trust. Tal Zackon, the CEO of TRES, sat down with Cryptopolitan to explain these findings in an exclusive interview. He’s got a lot to say about why the traditional banking system no longer cuts it and why crypto is gaining ground. “People just don’t trust banks anymore,” Tal says. Why the gap? The survey was conducted in August and it sampled 1,032 people, all between the ages of 18 and 60. One major takeaway was the lack of knowledge among men about how banks operate. Over 60% of men aged 30 to 60 think their money is always in the bank. More surprisingly, only one in three Americans understand that if their bank collapses, their money is not fully protected. When asked about this gap in understanding between men and women, Tal had a personal take on it. “I think it’s about how men and women make decisions. I’ll be honest, I’m less thorough when I make decisions,” he says. “My wife, on the other hand, always looks into the details. I think women tend to dig deeper, which might explain why they’re more aware of how banks operate.” The survey also revealed that people are growing tired of the opaque way banks handle deposits. Almost 90% of respondents said they’d be more likely to use a financial service that…

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Filed under: News - @ October 15, 2024 2:28 pm