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

The next significant turning point for the crypto industry is expected to come from advancements in artificial intelligence, according to Joseph Lubin, CEO of Consensys and co-founder of Ethereum. In a conversation with CoinDesk, Lubin expressed his belief that autonomous agents can facilitate transactions, coordination, and verification on decentralized networks, utilizing crypto infrastructure as the foundation for machine-driven activities. He will be speaking at Consensus Miami 2026 next month. Lubin is sympathetic to the idea that blockchain technology is suited for machine intelligences but does not envision humans being replaced. Instead, he foresees 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 also comes with risks, as the concentration of AI infrastructure among large technology firms could pose significant problems. Lubin emphasized the importance of decentralized systems and cryptography in ensuring accountability and enabling machines to verify one another 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 manage assets, execute transactions, and navigate a growing decentralized economy on behalf of users. The rise of corporate chains on Ethereum is another significant development, with Lubin expecting companies to seek higher throughput and greater control over their infrastructure. He believes assets are best issued on Ethereum's base layer to ensure durability. Stablecoins are part of this transition but not the endpoint, serving as a stepping stone toward more fully decentralized financial systems. Over time, Lubin expects growth in decentralized collateral to enable more robust, crypto-native forms of money. On tokenization, he 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. Regarding 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.