Ethereum Co-Founder Warns of AI Risks if Controlled by Big Tech Firms

The next significant turning point for the crypto industry is anticipated to come from advancements in artificial intelligence. According to Joseph Lubin, CEO of Consensys and co-founder of Ethereum, autonomous agents can facilitate transactions, coordination, and verification on decentralized networks, utilizing crypto infrastructure as the foundation for machine-driven activities. Lubin, set to speak at Consensus Miami 2026, expressed sympathy for the idea that blockchain is suited for machine intelligences but does not envision humans being replaced. Instead, he foresees increasingly intelligent interfaces simplifying complexity, allowing users to interact with crypto systems through intent rather than manual inputs, with AI acting as the intermediary layer between people and protocols. However, if AI infrastructure remains concentrated among large tech firms, it could pose significant risks. Lubin emphasized the importance of decentralized systems and cryptography in ensuring accountability and enabling transparent, verifiable environments where machines can 'check on one another.' In line with this shift, products like MetaMask are evolving to become more like personal, user-controlled neobanks, part of a transition toward a 'personal money operating system' where AI-powered agents can manage assets, execute transactions, and navigate 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. He advocated for issuing assets on Ethereum's base layer for durability, even if they are later used across other networks. Stablecoins, while part of the transition, are seen as a stepping stone toward more fully decentralized financial systems, with growth in decentralized collateral expected to enable more robust, crypto-native forms of money. Lubin suggested that traditional and decentralized finance are converging, combining centuries of financial innovation with newer blockchain-based systems to create a more granular and programmable global economy. Regarding quantum computing, Lubin adopted a measured tone, stating that Ethereum developers have been preparing for the potential risks over the years, viewing it as part of the natural evolution of Ethereum.