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

The next significant milestone in the crypto space is expected to emerge from advancements in artificial intelligence, according to Joseph Lubin, CEO of Consensys and co-founder of Ethereum. In a recent conversation with CoinDesk, Lubin emphasized that autonomous agents can execute transactions, coordinate, and verify each other 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 intelligences but does not foresee humans being replaced. Instead, he envisions increasingly intelligent interfaces simplifying complexity, allowing users to interact with crypto systems through intent rather than manual inputs, with AI serving as an intermediary layer between people and protocols. However, this vision comes with risks, as Lubin warned that if AI infrastructure remains concentrated among a few large tech firms, it could pose significant problems. He stressed that decentralized systems and cryptography are crucial for ensuring accountability and enabling machines to transparently verify each other's actions. 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 within a growing decentralized economy. Lubin also pointed to structural changes in the Ethereum ecosystem, including the rise of 'corporate chains' as companies seek higher throughput and greater control over their infrastructure. Stablecoins are seen as a stepping stone toward more fully decentralized financial systems, with Lubin expecting growth in decentralized collateral to enable more robust forms of crypto-native money. On tokenization, Lubin suggested that traditional finance and decentralized finance are converging, combining centuries of financial innovation with newer blockchain-based systems. While acknowledging 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.