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

The next significant milestone for cryptocurrency is emerging in the form of artificial intelligence, according to Joseph Lubin, CEO of Consensys and co-founder of Ethereum. Lubin expressed his views in a conversation with CoinDesk, stating that autonomous agents can seamlessly transact, coordinate, and verify each other on decentralized networks, utilizing crypto infrastructure as the foundation for machine-driven activities. He also mentioned that he will be speaking at Consensus Miami 2026 next month. Lubin is open to the idea that blockchain technology is suited for machine intelligences but does not envision humans being replaced. Instead, he sees increasingly intelligent interfaces simplifying 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, this vision comes with risks, as Lubin warned that if AI infrastructure remains concentrated among a few large tech firms, it could lead to trouble. He emphasized the importance of decentralized systems and cryptography in ensuring accountability, allowing machines to verify each other in transparent environments. Products like MetaMask are evolving to reflect this shift, with Lubin describing 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 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, which he expects to become more common as companies seek higher throughput and greater control over their infrastructure. He believes assets are best issued on Ethereum's base layer, stating that minting assets on Ethereum layer one ensures their durability, even if they are later used across other networks. Stablecoins are part of this transition but not the endpoint, with Lubin describing them as a stepping stone toward more fully decentralized financial systems. He noted that current models rely heavily on centralized issuers and 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, resulting in a more granular and programmable global economy. While acknowledging longer-term technical risks like quantum computing, Lubin struck a measured tone, stating that Ethereum developers have been preparing for years and see it as part of the natural evolution of Ethereum.