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10 years ago, cryptocurrency was the tech buzz. However, adoption remained limited. Now that we are in an AI buzz cycle, is crypto a “hidden dragon” that could have profound implications?
I gave a talk a couple of years ago about using blockchain to provide verifiable attestation to generative AI outputs. The other day I read an interesting article about a hypothetical scenario of how AI could pose not only sector risk, but systemic risk. One thing that stood out to me was after commerce (consumer transactions) had been “solved”, that the next target for disruption was the fee structure entrenched by payment processing, and that crypto could become an AI native layer for settlement.
Although US plans for a CBDC are speculative, AI-powered crypto settlement could still become widespread thanks to the regulatory framework (taxes and stablecoins) already in place. Immediate multi-party settlements (e.g. real time tax collection, or variable percentage disbursements, or micro transactions) could change how we view and interact with money.
Digital technology continues to radically transform every aspect of our lives and society and we should look ahead of the curve. The AI revolution is like the internet in that, it is not one discrete “thing” which you can air-gap or turn off; it’s distributed and in the wild. We unambiguously advocate for education, safeguards, and the legitimate use of this technology for the betterment of humankind.