- AI-driven DAOs on Ethereum revolutionize the global economy – Arthur Hayes predicts a soaring future.
- Smart contracts empower AI entities on Ethereum, propelling crypto to new heights.
- Bitcoin emerges as the logical choice for AI integration, driving financial solutions.
Co-founder of BitMEX, Arthur Hayes, in a Medium post titled ‘Moai’, described an astonishing AI-driven revolution that would revolutionise the world economy and take Ethereum to new heights in a ground-breaking presentation. Hayes argued that Decentralised Autonomous Organisations (DAOs), enabled by smart contracts on Ethereum’s blockchain, would outperform conventional corporate structures, establishing the groundwork for effective and safe economic growth. Hayes emphasised the crucial role that DAOs play in the AI age.
The driving force behind this transformation lies in the limitations of conventional company structures when dealing with AI-driven entities. As Hayes asserted, an AI possesses no allegiance to laws and cannot be coerced by the state, opening the door for AI-powered DAOs to emerge as natural monopolies in the future. Leveraging smart contracts, these organizations would operate transparently, with cryptographic verification of transactions, rendering third-party intermediaries and cumbersome auditing processes redundant.
Hayes envisions a scenario where AI-powered DAOs raise capital and trade tokens on decentralized exchanges (DEXs) within the Ethereum ecosystem, rather than relying on centralized exchanges. This shift would revolutionize global capital markets, democratizing access for anyone with an internet connection. The advantages offered by DEXs in terms of trust, security, and ease of use are poised to make them natural monopolies in the evolving landscape.
Hayes further advocated for Bitcoin’s role as the logical currency choice for AI-driven ventures. As AI implementation proliferates across various sectors, Bitcoin’s immutable fixed supply, digital scarcity, and status as “energy money” align seamlessly with the inherent qualities sought by these cutting-edge technologies. While fiat currency regimes may falter in the future, AI’s exponential growth is inevitable and would impact humanity profoundly.
Recent developments in computing power, exemplified by the rapid adoption of ChatGPT, foreshadow a hockey-stick moment for AI, making its integration into everyday life and continuous learning an unstoppable force. With AI set to become ubiquitous, financial solutions of the future will pivot towards Bitcoin, embracing its unparalleled attributes for this tech-driven age.
