Ethereum Co-Founder Warns of AI Control by Big Tech Firms

The next significant milestone in crypto is expected to come from advancements in artificial intelligence. According to Joseph Lubin, CEO of Consensys and co-founder of Ethereum, autonomous agents can facilitate transactions, coordination, and verification on decentralized networks, utilizing crypto infrastructure as the foundation for machine-driven activities. Lubin, who is set to speak at Consensus Miami 2026, expressed his support for the idea that blockchain technology is suited for machine intelligence, but does not envision humans being replaced. Instead, increasingly sophisticated interfaces will simplify complexity, enabling users to interact with crypto systems through intent rather than manual inputs, with AI serving as an intermediary layer between people and protocols. However, if AI infrastructure remains dominated by large tech firms, it could pose significant risks. Lubin emphasized that decentralized systems and cryptography will be crucial in ensuring accountability, allowing machines to 'check on one another' in transparent environments. Products like MetaMask are evolving to reflect this shift, with Lubin describing the wallet as a 'new kind of neobank that you own and control,' part of a transition toward a 'personal money operating system.' AI-powered agents could act on behalf of users, managing assets and executing transactions in a growing decentralized economy. The rise of corporate chains on Ethereum is also expected, with Lubin predicting that companies will seek higher throughput and greater control over their infrastructure. He believes assets are best issued on Ethereum's base layer, saying 'the best way to ensure that an asset is durable... is to mint it on Ethereum layer one.' Stablecoins are part of this transition, but not the ultimate goal. Lubin views them as a 'stepping stone' toward more fully decentralized financial systems, noting that current models rely heavily on centralized issuers. Over time, he expects growth in decentralized collateral to enable more robust, crypto-native forms of money. On tokenization, Lubin suggested that traditional finance and decentralized finance are converging, combining centuries of financial innovation with newer blockchain-based systems. The result will be a more granular and programmable global economy. While addressing longer-term technical risks like quantum computing, Lubin struck a measured tone, saying Ethereum developers have been preparing for years and view it as part of the natural evolution of Ethereum.