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

According to Joseph Lubin, CEO of Consensys and Ethereum co-founder, the next significant milestone for crypto is likely to come from advancements in artificial intelligence. Lubin shared his insights with CoinDesk, explaining how autonomous agents can interact, coordinate, and verify transactions on decentralized networks using crypto as a foundation for machine-driven activities. He expressed sympathy for the idea that blockchain is suited for machine intelligences but does not foresee humans being replaced. Instead, increasingly intelligent interfaces will simplify complexity, enabling users to interact with crypto systems through intent rather than manual inputs, with AI acting as an intermediary layer between people and protocols. This vision, however, comes with risks. If AI infrastructure remains concentrated among large tech firms, it could lead to trouble, Lubin warned. He emphasized the importance of decentralized systems and cryptography in ensuring accountability and enabling machines to verify each other in transparent environments. Products like MetaMask are evolving to reflect this shift. Lubin described the wallet as a new kind of neobank that users own and control, part of a transition toward a personal money operating system. AI-powered agents could manage assets, execute transactions, and navigate the growing decentralized economy on behalf of users. Lubin also pointed to structural changes in the Ethereum ecosystem, including the rise of corporate chains. He expects companies to seek higher throughput and greater control over their infrastructure, but argues that assets are best issued on Ethereum's base layer for durability. Stablecoins are part of this transition but not the ultimate goal. Lubin views them as a stepping stone toward more decentralized financial systems, noting that current models rely heavily on centralized issuers. He expects growth in decentralized collateral to enable more robust, crypto-native forms of money over time. Lubin also discussed the convergence of traditional finance and decentralized finance through tokenization, combining centuries of financial innovation with newer blockchain-based systems. This convergence is expected to result in a more granular and programmable global economy. Regarding longer-term technical risks like quantum computing, Lubin adopted a measured tone, stating that Ethereum developers have been preparing for years and see it as part of the natural evolution of Ethereum.