As an analyst with a background in technology and finance, I find Balaji Srinivasan’s perspective on the future of money and its relationship with AI and cryptocurrency intriguing. His argument that “money after AI is crypto” resonates with me for several reasons.
Known investor and ex-CTO of Coinbase, Balaji Srinivasan, boldly declared that “after artificial intelligence (AI), the next stage is cryptocurrency.”
In his latest update on social media, Srinivasan shared his perspective that cryptocurrencies will serve as the preferred method of transaction in a future society heavily influenced by artificial intelligence and robotics.
In an era where generative AI and robotics are prevalent, what form does money take? Essentially, it transforms into crypto. The very concept of currency evolves to become digital currencies, mirroring how intelligence becomes an abundant resource akin to electricity.
Reason being:
1) To begin with, in this age of AI surplus, cryptocurrency represents the scarcity.…
— Balaji (@balajis) June 15, 2024
Furthermore, Srinivasan advocated for a new perspective on money’s role and application in a technologically advanced society. He argued that cryptocurrencies would hold significant value in an upcoming era dominated by AI and robotics producing vast wealth, owing to their inherent scarcity.
In the era of artificial intelligence surplus, cryptocurrency represents the one thing that is verifiably limited in supply. This scarcity plays a pivotal role in differentiating authentic human activities from AI-generated ones. Notably, Srinivasan underscores the significance of economic transactions between humans and robots.
Srinivasan stresses that although AI and robotics can eliminate certain types of scarcity, others will persist. He pointed out that even a robot belonging to another entity would require payment in the form of money to rent. In such a situation, bitcoins could serve as a means of exchange to gain access and utilize these robots.
He points out that the production of robots’ supply chains and the energy needed to run AI data centers will continue to be in short supply. As a result, money will maintain its importance.
In the era of sophisticated machinery, the power to operate them will be held with secure digital access codes. According to Srinivasan, in this AI-dominated time, the scarcest resource is the exclusive keys that govern robot control. The former Coinbase executive emphasized the significance of Web3 technologies, including Bitcoin and Ethereum, for managing these keys safely and efficiently.
“He pointed out that AI represents digital wealth, yet it doesn’t ensure abundance in all areas. On the other hand, crypto embodies digital scarcity and enhances the value of AI’s abundance. Consequently, post-AI economics may revolve around crypto.”
Srinivasan argues that AI generates an overflow of digital content, whereas cryptocurrencies introduce a limited supply in the digital economy to preserve equilibrium.
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2024-06-15 20:06