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

According to Joseph Lubin, CEO of Consensys and co-founder of Ethereum, the next significant milestone in the crypto industry will be driven by artificial intelligence. In an interview, Lubin stated that autonomous agents can engage in transactions, coordination, and verification on decentralized networks, leveraging 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 the intermediary layer between people and protocols. However, this vision comes with risks, as the concentration of AI infrastructure among large tech firms could pose significant problems. Lubin emphasized the importance of decentralized systems and cryptography in ensuring accountability and enabling machines to verify each other's actions in transparent environments. The evolution of products like MetaMask reflects this shift, with the wallet being rebuilt as a user-controlled neobank, part of a transition toward a personal financial operating system. AI-powered agents could manage assets, execute transactions, and navigate the growing decentralized economy on behalf of users. Lubin also discussed the rise of corporate chains on Ethereum, expecting companies to seek higher throughput and greater control over their infrastructure. He believes that assets are best issued on Ethereum's base layer to ensure durability. Stablecoins, a rapidly growing sector, are seen as a stepping stone toward more decentralized financial systems, with decentralized collateral expected to enable more robust forms of money. On tokenization, Lubin suggested that traditional and decentralized finance are converging, combining centuries of financial innovation with blockchain-based systems to create a more granular and programmable global economy. While addressing technical risks like quantum computing, Lubin adopted a measured tone, stating that Ethereum developers have been preparing for years and view it as part of the natural evolution of Ethereum.