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

The next significant milestone for the crypto industry is expected to emerge from advancements in artificial intelligence. According to Joseph Lubin, CEO of Consensys and co-founder of Ethereum, AI has the potential to revolutionize the way transactions are conducted on decentralized networks, leveraging crypto infrastructure as the foundation for autonomous and semi-autonomous agents to interact and verify each other. 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 does not foresee humans being replaced. Instead, he envisions increasingly intelligent interfaces simplifying complexity, enabling users to engage with crypto systems through intent rather than manual inputs, with AI serving as the intermediary layer between people and protocols. However, Lubin warned that if AI infrastructure remains controlled by a few large tech firms, it could pose significant risks. He emphasized the importance of decentralized systems and cryptography in ensuring accountability and enabling machines to verify each other in transparent environments. As part of this broader shift, products like MetaMask are evolving to become more sophisticated, 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 potentially act on behalf of users, managing assets and executing transactions within a growing decentralized economy. Lubin also discussed the rise of corporate chains on Ethereum, expecting companies to 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, which are part of this transition, are seen as a 'stepping stone' toward more fully decentralized financial systems, with Lubin noting that current models rely heavily on centralized issuers. Over time, he expects growth in decentralized collateral to enable more robust 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. This convergence is expected to result in a more granular and programmable global economy. While addressing longer-term technical risks like quantum computing, Lubin struck a measured tone, stating that Ethereum developers have been preparing for years and view it as part of the natural evolution of Ethereum.