Ethereum Co-Founder Joseph Lubin Highlights the Risks of AI Control by Major Tech Firms

The next significant turning point for crypto is expected to come from advancements in artificial intelligence. According to Joseph Lubin, CEO of Consensys and co-founder of Ethereum, autonomous agents will be able to transact and verify each other on decentralized networks, utilizing crypto 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 intelligences, but he 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 serving as the intermediary layer between people and protocols. However, if AI infrastructure remains controlled by a few large tech firms, it could pose significant risks. Lubin emphasized that decentralized systems and cryptography are crucial in ensuring accountability and enabling machines to verify each other in transparent environments. The evolution of products like MetaMask, a Consensys product, reflects this shift. Lubin described the wallet as being rebuilt 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 navigating a growing decentralized economy. Lubin also pointed to structural changes in the Ethereum ecosystem, including the rise of corporate chains, which are expected to become more common as companies seek higher throughput and greater control over their infrastructure. He argued that assets are best issued on Ethereum's base layer to ensure durability. Stablecoins are seen as a stepping stone toward more decentralized financial systems, and Lubin expects growth in decentralized collateral to enable more robust forms of money. The convergence of traditional finance and decentralized finance is expected to result in a more granular and programmable global economy. While Lubin acknowledged the potential risks of quantum computing, he struck a measured tone, stating that Ethereum developers have been preparing for this scenario for years.